American Express 2014 Annual Report Download - page 70

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AMERICAN EXPRESS COMPANY
CONSOLIDATED STATEMENTS OF INCOME
Years Ended December 31 (Millions, except per share amounts) 2014 2013 2012
Revenues
Non-interest revenues
Discount revenue $19,493$ 18,695 $ 17,739
Net card fees 2,712 2,631 2,506
Travel commissions and fees 1,118 1,913 1,940
Other commissions and fees 2,508 2,414 2,317
Other 2,989 2,274 2,425
Total non-interest revenues 28,820 27,927 26,927
Interest income
Interest on loans 6,929 6,718 6,511
Interest and dividends on investment securities 179 201 246
Deposits with banks and other 71 86 97
Total interest income 7,179 7,005 6,854
Interest expense
Deposits 373 442 480
Long-term debt and other 1,334 1,516 1,746
Total interest expense 1,707 1,958 2,226
Net interest income 5,472 5,047 4,628
Total revenues net of interest expense 34,292 32,974 31,555
Provisions for losses
Charge card 792 648 601
Card member loans 1,138 1,115 1,030
Other 114 69 81
Total provisions for losses 2,044 1,832 1,712
Total revenues net of interest expense after provisions for losses 32,248 31,142 29,843
Expenses
Marketing, promotion, rewards and Card Member services 11,073 10,267 9,944
Salaries and employee benefits 6,095 6,191 6,597
Other, net 6,089 6,796 6,851
Total expenses 23,257 23,254 23,392
Pretax income 8,991 7,888 6,451
Income tax provision 3,106 2,529 1,969
Net income $ 5,885 $ 5,359 $ 4,482
Earnings per Common Share – (Note 22)
Basic(a) $5.58$4.91$ 3.91
Diluted 5.56 4.88 3.89
Average common shares outstanding for earnings per common share:
Basic 1,045 1,082 1,135
Diluted 1,051 1,089 1,141
(a) Represents net income less earnings allocated to participating share awards of $46 million, $47 million and $49 million for the years ended December 31, 2014,
2013 and 2012, respectively.
See Notes to Consolidated Financial Statements.
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