American Express 2013 Annual Report Download - page 24

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AMERICAN EXPRESS COMPANY
2013 FINANCIAL REVIEW
TABLE 5: SELECTED STATISTICAL INFORMATION
Years Ended December 31, 2013 2012 2011
Change
2013 vs. 2012
Change
2012 vs. 2011
Card billed business: (billions)
United States $ 637.0 $ 590.7 $ 542.8 8% 9%
Outside the United States 315.4 297.7 279.4 6 7
Total $ 952.4 $ 888.4 $ 822.2 7 8
Total cards-in-force: (millions)
United States 53.1 52.0 50.6 2 3
Outside the United States 54.1 50.4 46.8 7 8
Total 107.2 102.4 97.4 5 5
Basic cards-in-force: (millions)
United States 41.1 40.3 39.3 2 3
Outside the United States 44.0 40.5 37.4 9 8
Total 85.1 80.8 76.7 5 5
Average discount rate 2.51% 2.52% 2.54%
Average basic Card Member spending (dollars) (a) $ 16,334 $ 15,720 $ 14,881 4 6
Average fee per card (dollars)(a) 40 39 39 3 —
Average fee per card adjusted (dollars) (a) $ 44 $ 43 $ 43 2% —%
(a) Average basic Card Member spending and average fee per card are computed from proprietary card activities only. Average fee per card is computed based on net
card fees, including the amortization of deferred direct acquisition costs divided by average worldwide proprietary cards-in-force. The adjusted average fee per card,
which is a non-GAAP measure, is computed in the same manner, but excludes amortization of deferred direct acquisition costs. The amount of amortization excluded
was $262 million, $257 million and $219 million for the years ended December 31, 2013, 2012 and 2011, respectively. The Company presents adjusted average fee per
card because the Company believes this metric presents a useful indicator of card fee pricing across a range of its proprietary card products.
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