American Express 2014 Annual Report Download - page 28

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AMERICAN EXPRESS COMPANY
2014 FINANCIAL REVIEW
TABLE 9: NET INTEREST YIELD ON CARD MEMBER LOANS
Years Ended December 31,
(Millions, except percentages and where indicated) 2014 2013 2012
Net interest income $5,472 $ 5,047 $ 4,628
Exclude:
Interest expense not attributable to the Company’s Card Member loan portfolio 1,019 1,181 1,366
Interest income not attributable to the Company’s Card Member loan portfolio (359) (361) (401)
Adjusted net interest income(a) $6,132 $ 5,867 $ 5,593
Average loans (billions) $ 66.0 $63.3 $61.5
Exclude certain non-traditional Card Member loans and other fees (billions) (0.2) (0.3) (0.2)
Adjusted average loans (billions)(a) $65.8 $63.0 $61.3
Net interest income divided by average loans 8.3 % 8.0 % 7.5 %
Net interest yield on Card Member loans(a) 9.3 % 9.3 % 9.1 %
(a) Adjusted average loans, adjusted net interest income and net interest yield on Card Member loans are non-GAAP measures. We believe adjusted net interest
income and adjusted average loans are useful to investors because they are components of net interest yield on Card Member loans, which provides a measure
of profitability of our Card Member loan portfolio.
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