American Express 2015 Annual Report Download - page 167
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Salaries and employee benefits and other operating expenses includes expenses such as professional services,
occupancy and equipment and communications incurred directly within each segment. In addition, expenses related
to support services, such as technology costs, are allocated to each segment primarily based on support service
activities directly attributable to the segment. Other overhead expenses, such as staff group support functions, are
allocated from Corporate & Other to the other segments based on a mix of each segment’s direct consumption of
services and relative level of pretax income.
Capital
Each business segment is allocated capital based on established business model operating requirements, risk
measures and regulatory capital requirements. The business model operating requirements include capital needed to
support operations and specific balance sheet items. The risk measures include considerations for credit, market and
operational risk.
Income Taxes
An income tax provision (benefit) is allocated to each business segment based on the effective tax rates
applicable to various businesses that comprise the segment.
GEOGRAPHIC OPERATIONS
The following table presents the Company’s total revenues net of interest expense and pretax income (loss) from
continuing operations in different geographic regions:
(Millions) United
States EMEA (a) JAPA (a) LACC (a)
Other
Unallocated (b) Consolidated
2015 (c)
Total revenues net of interest expense .............. $24,791 $ 3,161 $2,649 $2,384 $ (167) $32,818
Pretax income (loss) from continuing operations ..... 8,010 534 456 658 (1,720) 7,938
2014 (c)
Total revenues net of interest expense .............. $24,751 $ 3,767 $ 2,934 $ 2,888 $ (152) $ 34,188
Pretax income (loss) from continuing operations ..... 8,869 525 463 683 (1,549) 8,991
2013 (c)
Total revenues net of interest expense .............. $23,641 $3,700 $ 2,952 $2,900 $ (323) $32,870
Pretax income (loss) from continuing operations ..... 7,679 524 488 701 (1,504) 7,888
(a) EMEA represents Europe, the Middle East and Africa; JAPA represents Japan, Asia/Pacific and Australia; and LACC represents Latin America,
Canada and the Caribbean.
(b) Other Unallocated includes net costs which are not directly allocable to specific geographic regions, including costs related to the net negative
interest spread on excess liquidity funding and executive office operations expenses.
(c) The data in the above table is, in part, based upon internal allocations, which necessarily involve management’s judgment.
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