American Express 2012 Annual Report Download - page 66

Download and view the complete annual report

Please find page 66 of the 2012 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 120

  • 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

AMERICAN EXPRESS COMPANY
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
Three Years Ended December 31, 2012
(Millions, except per share amounts) Total
Common
Shares
Additional
Paid-in Capital
Accumulated
Other
Comprehensive
(Loss) Income
Retained
Earnings
Balances as of December 31, 2009 $ 14,406 $ 237 $ 11,144 $ (712) $ 3,737
Impact of Adoption of GAAP effective January 1, 2010(a) (1,769) — — (315) (1,454)
Balances as of January 1, 2010 (Adjusted) 12,637 237 11,144 (1,027) 2,283
Net income 4,057 4,057
Other comprehensive income 110 110
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
Net income 4,935 4,935
Other comprehensive income 41 41
Repurchase of common shares (2,300) (10) (494) (1,796)
Other changes, primarily employee plans 744 4 774 (34)
Cash dividends declared common, $0.72 per share (856) (856)
Balances as of December 31, 2011 18,794 232 12,217 (876) 7,221
Net income 4,482 4,482
Other comprehensive loss (51) (51)
Repurchase of common shares (4,000) (14) (765) (3,221)
Other changes, primarily employee plans 570 3 615 (48)
Cash dividends declared common, $0.80 per share (909) (909)
Balances as of December 31, 2012 $ 18,886 $ 221 $ 12,067 $ (927) $ 7,525
(a) As a result of the adoption of accounting standards governing consolidations and variable interest entities, shareholders’ equity was reduced, primarily for the after-
tax effect of establishing the additional reserve for losses on cardmember loans and for reversing the unrealized gains on the retained subordinated securities.
See Notes to Consolidated Financial Statements.
64