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NOTE 27
QUARTERLY FINANCIAL DATA (UNAUDITED)
Quarters Ended 12/31
(a)
9/30 6/30 3/31 12/31 9/30
(b)
6/30
(b)(c)
3/31
(Millions, except per share amounts) 2010 2009
Total revenues net of interest expense $ 7,322 $ 7,033 $ 6,858 $ 6,606 $ 6,489 $ 6,016 $ 6,092 $ 5,926
Pretax income from continuing operations 1,477 1,640 1,595 1,252 961 918 418 544
Income from continuing operations 1,062 1,093 1,017 885 710 642 342 443
Income (Loss) from discontinued operations, net of tax ———— 6 (2) (5) (6)
Net income
(b)
1,062 1,093 1,017 885 716 640 337 437
Earnings Per Common Share — Basic:
Continuing operations $ 0.88 $ 0.91 $ 0.84 $ 0.74 $ 0.59 $ 0.54 $ 0.09 $ 0.32
Discontinued operations ————0.01 ——(0.01)
Net income $ 0.88 $ 0.91 $ 0.84 $ 0.74 $ 0.60 $ 0.54 $ 0.09 $ 0.31
Earnings Per Common Share — Diluted:
Continuing operations $ 0.88 $ 0.90 $ 0.84 $ 0.73 $ 0.59 $ 0.54 $ 0.09 $ 0.32
Discontinued operations ————0.01 (0.01) —(0.01)
Net income $ 0.88 $ 0.90 $ 0.84 $ 0.73 $ 0.60 $ 0.53 $ 0.09 $ 0.31
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 $ 46.78 $ 45.68 $ 49.19 $ 43.25 $ 42.25 $ 36.50 $ 28.45 $ 21.38
Low $ 37.33 $ 38.42 $ 37.13 $ 36.60 $ 31.69 $ 22.00 $ 13.08 $ 9.71
(a) The results of operations for the quarter ended December 31, 2010 include restructuring charges in the amount of $98 million. Refer to Note 16 for further discussion
of these items.
(b) The results for the quarter ended September 30, 2009 include (i) a $135 million benefit representing the correction of an error related to the accounting for cumulative
translation adjustments associated with a net investment in foreign subsidiaries and (ii) a $45 million benefit resulting from 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 quarter ended June 30, 2009 include restructuring charges in the amount of $199 million. Refer to Note 16 for further discussion of
these items.
119
AMERICAN EXPRESS COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS