American Express 2013 Annual Report Download - page 110

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AMERICAN EXPRESS COMPANY
CONSOLIDATED FIVE-YEAR SUMMARY OF SELECTED FINANCIAL DATA
(Millions, except per share amounts, share data, percentages and where indicated) 2013 2012 2011 2010 2009
Operating Results
Total revenues net of interest expense(a) $ 32,974 $ 31,555 $ 29,962 $ 27,582 $ 24,336
Expenses(a) 22,976 23,114 21,894 19,411 16,182
Provisions for losses 2,110 1,990 1,112 2,207 5,313
Income from continuing operations 5,359 4,482 4,899 4,057 2,137
Income (loss) from discontinued operations —— 36 — (7)
Net income $ 5,359 $ 4,482 $ 4,935 $ 4,057 $ 2,130
Return on average equity(b) 27.8% 23.1% 27.7% 27.5% 14.6%
Balance Sheet
Cash and cash equivalents $ 19,486 $ 22,250 $ 24,893 $ 16,356 $ 16,599
Accounts receivable, net 47,185 45,914 44,109 40,434 38,204
Loans, net 66,585 64,309 61,166 57,616 30,010
Investment securities 5,016 5,614 7,147 14,010 24,337
Total assets 153,375 153,140 153,337 146,689 125,145
Customer deposits 41,763 39,803 37,898 29,727 26,289
Travelers Cheques outstanding and other prepaid products 4,240 4,601 5,123 5,618 5,975
Short-term borrowings(c) 5,021 3,314 4,337 3,620 2,344
Long-term debt 55,330 58,973 59,570 66,416 52,338
Shareholders’ equity $ 19,496 $ 18,886 $ 18,794 $ 16,230 $ 14,406
Common Share Statistics
Earnings per share:
Income from continuing operations:
Basic $ 4.91 $ 3.91 $ 4.11 $ 3.37 $ 1.55
Diluted 4.88 3.89 4.09 3.35 1.54
Income (loss) from discontinued operations:
Basic —— 0.03 — (0.01)
Diluted —— 0.03 — —
Net income:
Basic 4.91 3.91 4.14 3.37 1.54
Diluted 4.88 3.89 4.12 3.35 1.54
Cash dividends declared per share 0.89 0.80 0.72 0.72 0.72
Book value per share 18.32 17.09 16.15 13.56 12.08
Market price per share:
High 90.79 61.42 53.8 49.19 42.25
Low 58.31 47.40 41.30 36.6 9.71
Close $ 90.73 $ 57.48 $ 47.17 $ 42.92 $ 40.52
Average common shares outstanding for earnings per share:
Basic 1,082 1,135 1,178 1,188 1,168
Diluted 1,089 1,141 1,184 1,195 1,171
Shares outstanding at period end 1,064 1,105 1,164 1,197 1,192
Other Statistics
Number of employees at period end (thousands):
U.S. 26 27 29 29 28
Outside the U.S. 37 37 33 32 31
Total(d) 63 64 62 61 59
Number of shareholders of record 22,238 32,565 35,541 38,384 41,273
(a) In the first quarter of 2013, the Company reclassified $27 million on the December 31, 2012 Consolidated Statements of Income by reducing other revenue and
reducing marketing, promotion, rewards, and Card Member services expense, from amounts previously reported in order to conform to the current period
presentation.
(b) Return on average equity is calculated by dividing one-year period of net income by one-year average of total shareholders’ equity.
(c) In the first quarter of 2012, the Company reclassified $913 million and $206 million on the December 31, 2011 and 2010 Consolidated Balance Sheets, respectively, by
increasing short-term borrowings and reducing other liabilities, from amounts previously reported in order to correct the effect of a misclassification.
(d) Amounts include employees from discontinued operations.
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