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AMERICAN EXPRESS COMPANY
CONSOLIDATED BALANCE SHEETS
December 31 (Millions, except per share data) 2010 2009
Assets
Cash and cash equivalents
Cash and cash due from banks $ 2,498 $ 1,525
Interest-bearing deposits in other banks (including securities purchased under resale agreements: 2010, $372;
2009, $212) 13,557 11,010
Short-term investment securities 654 4,064
Total 16,709 16,599
Accounts receivable
Cardmember receivables (includes gross receivables available to settle obligations of a consolidated
variable interest entity: 2010, $8,192; 2009, $8,314), less reserves: 2010, $386; 2009, $546 36,880 33,197
Other receivables, less reserves: 2010, $175; 2009, $109 3,554 5,007
Loans
Cardmember loans, (includes gross loans available to settle obligations of a consolidated
variable interest entity: 2010, $34,726)
(a)
, less reserves: 2010, $3,646; 2009, $3,268 57,204 29,504
Other, less reserves: 2010, $24; 2009, $27 412 506
Investment securities 14,010 24,337
Premises and equipment — at cost, less accumulated depreciation: 2010, $4,483; 2009, $4,130 2,905 2,782
Other assets (includes restricted cash of consolidated variable interest entities: 2010, $3,759; 2009, $1,799)
(a)
15,368 13,213
Total assets $ 147,042 $ 125,145
Liabilities and Shareholders’ Equity
Liabilities
Customer deposits $ 29,727 $ 26,289
Travelers Cheques outstanding 5,618 5,975
Accounts payable 9,691 9,063
Short-term borrowings 3,414 2,344
Long-term debt (includes debt issued by consolidated variable interest entities: 2010, $23,341; 2009, $4,970) 66,416 52,338
Other liabilities 15,946 14,730
Total liabilities 130,812 110,739
Commitments and contingencies (Note 24)
Shareholders’ Equity
Common shares, $0.20 par value, authorized 3.6 billion shares; issued and outstanding 1,197 million shares
as of December 31, 2010 and 1,192 million shares as of December 31, 2009 238 237
Additional paid-in capital 11,937 11,144
Retained earnings 4,972 3,737
Accumulated other comprehensive (loss) income
Net unrealized securities gains, net of tax: 2010, $(19); 2009, $(291) 57 507
Net unrealized derivatives losses, net of tax: 2010, $4; 2009, $15 (7) (28)
Foreign currency translation adjustments, net of tax: 2010, $405; 2009, $31 (503) (722)
Net unrealized pension and other postretirement benefit losses, net of tax: 2010, $226; 2009, $244 (464) (469)
Total accumulated other comprehensive loss (917) (712)
Total shareholders’ equity 16,230 14,406
Total liabilities and shareholders’ equity $ 147,042 $ 125,145
(a) The balances as of December 31, 2009 include an undivided, pro-rata interest in an unconsolidated variable interest entity (historically referred to as
“seller’s interest”) totaling $8,752, of which $8,033 is included in cardmember loans and $719 is included in other assets. Refer to Note 7 for
additional details.
See Notes to Consolidated Financial Statements.
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