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AMERICAN EXPRESS COMPANY
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
Three Years Ended December 31, 2010
(Millions, except per share amounts) Total
Preferred
Shares
Common
Shares
Additional
Paid-in
Capital
Accumulated
Other
Comprehensive
(Loss) Income
Retained
Earnings
Balances as of December 31, 2007 $ 11,029 $ — $ 232 $ 10,164 $ (442) $ 1,075
Comprehensive income
Net income 2,699 2,699
Change in net unrealized securities gains (711) (711)
Change in net unrealized derivatives (losses) gains (9) (9)
Foreign currency translation adjustments (113) (113)
Change in net unrealized pension and other
postretirement benefit losses (334) (334)
Total comprehensive income 1,532
Repurchases of common shares (218) (1) (42) (175)
Other changes, primarily employee plans 334 1 374 3 (44)
Cash dividends declared Common, $0.72 per share (836) (836)
Balances as of December 31, 2008 11,841 — 232 10,496 (1,606) 2,719
Comprehensive income
Net income 2,130 2,130
Change in net unrealized securities gains 1,206 1,206
Change in net unrealized derivatives (losses) gains 52 52
Foreign currency translation adjustments (354) (354)
Change in net unrealized pension and other
postretirement benefit losses (10) (10)
Total comprehensive income 3,024
Issuance of preferred shares and common stock
warrants 3,389 3,157 232
Preferred share accretion — 232 (232)
Repurchase of preferred shares (3,389) (3,389)
Repurchase of warrants (340) (232) (108)
Issuance of common shares 531 4 527
Other changes, primarily employee plans 279 1 121 157
Cash dividends declared
Preferred shares (74) (74)
Common, $0.72 per share (855) (855)
Balances as of December 31, 2009 14,406 — 237 11,144 (712) 3,737
Impact of Adoption of new GAAP (Note 7) (1,769) — — — (315) (1,454)
Balances as of January 1, 2010 (Adjusted) 12,637 —237 11,144 (1,027) 2,283
Comprehensive income
Net income 4,057 4,057
Change in net unrealized securities gains (135) (135)
Change in net unrealized derivatives (losses) gains 21 21
Foreign currency translation adjustments 219 219
Change in net unrealized pension and other
postretirement benefit losses 55
Total comprehensive income 4,167
Repurchase of common shares (590) (3) (132) (455)
Other changes, primarily employee plans 883 4 925 (46)
Cash dividends declared Common, $0.72 per share (867) (867)
Balances as of December 31, 2010 $ 16,230 $ — $ 238 $ 11,937 $ (917) $ 4,972
See Notes to Consolidated Financial Statements.
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