American Express 2012 Annual Report Download - page 75

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AMERICAN EXPRESS COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
CARDMEMBER LOANS AND CARDMEMBER
RECEIVABLES AGING
Generally, a cardmember account is considered past due if
payment is not received within 30 days after the billing statement
date. The following table represents the aging of cardmember
loans and receivables as of December 31, 2012 and 2011:
2012 (Millions) Current
30-59
Days
Past
Due
60-89
Days
Past
Due
90+
Days
Past
Due Total
Cardmember Loans:
U.S. Card Services $ 55,281 $ 200 $ 147 $ 325 $ 55,953
International Card
Services 9,099 47 30 60 9,236
Cardmember
Receivables:
U.S. Card Services $ 20,748 $ 116 $ 76 $ 184 $ 21,124
International Card
Services(a) (b) (b) (b) 74 7,778
Global Commercial
Services(a) (b) (b) (b) 112 13,671
2011 (Millions) Current
30-59
Days
Past
Due
60-89
Days
Past
Due
90+
Days
Past
Due Total
Cardmember Loans:
U.S. Card Services $ 52,930 $ 218 $ 165 $ 373 $ 53,686
International Card
Services 8,748 52 32 69 8,901
Cardmember
Receivables:
U.S. Card Services $ 20,246 $ 122 $ 81 $ 196 $ 20,645
International Card
Services(a) (b) (b) (b) 63 7,222
Global Commercial
Services(a) (b) (b) (b) 109 12,829
(a) For cardmember receivables in International Card Services (ICS) and Global
Commercial Services (GCS), delinquency data is tracked based on days past
billing status rather than days past due. A cardmember account is considered
90 days past billing if payment has not been received within 90 days of the
cardmember’s billing statement date. In addition, if the Company initiates
collection procedures on an account prior to the account becoming 90 days
past billing the associated cardmember receivable balance is considered as 90
days past billing. These amounts are shown above as 90+ Days Past Due for
presentation purposes.
(b) Historically, data for periods prior to 90 days past billing are not available
due to financial reporting system constraints. Therefore, it has not been
relied upon for risk management purposes. The balances that are current to
89 days past due can be derived as the difference between the Total and the
90+ Days Past Due balances.
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