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AMERICAN EXPRESS COMPANY
CONSOLIDATED STATEMENTS OF INCOME
Years Ended December 31 (Millions, except per share amounts) 2013 2012 2011
Revenues
Non-interest revenues
Discount revenue $ 18,695 $ 17,739 $ 16,734
Net card fees 2,631 2,506 2,448
Travel commissions and fees 1,913 1,940 1,971
Other commissions and fees 2,414 2,317 2,269
Other 2,274 2,425 2,164
Total non-interest revenues 27,927 26,927 25,586
Interest income
Interest on loans 6,718 6,511 6,272
Interest and dividends on investment securities 201 246 327
Deposits with banks and other 86 97 97
Total interest income 7,005 6,854 6,696
Interest expense
Deposits 442 480 528
Long-term debt and other 1,516 1,746 1,792
Total interest expense 1,958 2,226 2,320
Net interest income 5,047 4,628 4,376
Total revenues net of interest expense 32,974 31,555 29,962
Provisions for losses
Charge card 789 742 770
Card Member loans 1,229 1,149 253
Other 92 99 89
Total provisions for losses 2,110 1,990 1,112
Total revenues net of interest expense after provisions for losses 30,864 29,565 28,850
Expenses
Marketing, promotion, rewards and Card Member services 10,267 9,944 9,930
Salaries and employee benefits 6,191 6,597 6,252
Other, net 6,518 6,573 5,712
Total 22,976 23,114 21,894
Pretax income from continuing operations 7,888 6,451 6,956
Income tax provision 2,529 1,969 2,057
Income from continuing operations 5,359 4,482 4,899
Income from discontinued operations, net of tax —— 36
Net income $ 5,359 $ 4,482 $ 4,935
Earnings per Common Share – Basic: (Note 18)
Income from continuing operations attributable to common shareholders(a) $ 4.91 $ 3.91 $ 4.11
Income from discontinued operations —— 0.03
Net income attributable to common shareholders(a) $ 4.91 $ 3.91 $ 4.14
Earnings per Common Share – Diluted: (Note 18)
Income from continuing operations attributable to common shareholders(a) $ 4.88 $ 3.89 $ 4.09
Income from discontinued operations —— 0.03
Net income attributable to common shareholders(a) $ 4.88 $ 3.89 $ 4.12
Average common shares outstanding for earnings per common share:
Basic 1,082 1,135 1,178
Diluted 1,089 1,141 1,184
(a) Represents income from continuing operations or net income, as applicable, less earnings allocated to participating share awards and other items of $47 million, $49
million and $58 million for the years ended December 31, 2013, 2012 and 2011, respectively.
See Notes to Consolidated Financial Statements.
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