American Express 2015 Annual Report Download - page 176

2015 2014 2013
Years Ended December 31,
(Millions, except percentages) Average Balance (a)
Interest
Expense Average Rate Average Balance (a)
Interest
Expense Average Rate Average Balance (a)
Interest
Expense Average Rate
Interest-bearing liabilities
Customer deposits
U.S.
Savings . . . . . . . . . . . . . . . . . ................ $ 36,706 $ 283 0.8% $ 34,689 239 0.7% $ 31,650 232 0.7%
Time . . . . . . . . . . . . . . . . . . . . ................ 10,171 185 1.8 6,961 129 1.9 9,047 206 2.3
Demand . . . . . . . . . . . . . . . . . ................ 185 1 0.5 176 1 0.6 228 1 0.4
Non-U.S.
Other time and savings . . .................. 21 2 9.5 7 1 14.3 3 — 6.4
Other demand . . . . . . . . . . . . ............... 87 4 4.6 104 3 2.9 121 3 2.6
Short-term borrowings
U.S. ...................................... 1,416 4 0.3 1,060 2 0.2 767 1 0.1
Non-U.S. . . . . . . . . . . . . . . . . . . ................ 2,198 15 0.7 2,534 21 0.8 2,454 21 0.9
Long-term debt (b)
U.S. ...................................... 51,623 1,092 2.1 52,476 1,226 2.3 52,125 1,392 2.7
Non-U.S. . . . . . . . . . . . . . . . . . . ................ 1,271 29 2.3 2,206 60 2.7 2,553 78 3.1
Other liabilities (c)
Primarily U.S. . . . . . . . . . . . . . . . ............... 133 8 n.m. 353 25 n.m. 325 24 n.m.
Total interest-bearing liabilities ............ $ 103,811 $ 1,623 1.6% $100,566 $ 1,707 1.7% $ 99,273 $ 1,958 2.0%
U.S. . . . . . . . . . . . . . . . . . . . . ................ 100,234 1,573 95,715 1,622 94,142 1,856
Non-U.S. . . . . . . . . . . . . . . . . . ............... 3,577 50 4,851 85 5,131 102
Non-interest-bearing liabilities
Travelers Cheques and other prepaid products
U.S. ...................................... 3,160 3,641 4,075
Non-U.S. . . . . . . . . . . . . . . . . . . ................ 110 128 129
Accounts payable
U.S. ...................................... 7,238 7,321 7,225
Non-U.S. . . . . . . . . . . . . . . . . . . ................ 4,589 5,084 4,989
Customer Deposits (d)
U.S. ...................................... 386 349 167
Non-U.S. . . . . . . . . . . . . . . . . . . ................ 324 358 229
Other liabilities
U.S. ...................................... 13,302 12,350 12,507
Non-U.S. . . . . . . . . . . . . . . . . . . ................ 4,313 4,375 4,433
Total non-interest-bearing liabilities ........ 33,422 33,606 33,754
U.S. . . . . . . . . . . . . . . . . . . . . ................ 24,086 23,661 23,974
Non-U.S. . . . . . . . . . . . . . . . . . ............... 9,336 9,945 9,780
Total liabilities ............................ 137,233 134,172 133,027
U.S. . . . . . . . . . . . . . . . . . . . . ................ 124,320 119,376 118,116
Non-U.S. . . . . . . . . . . . . . . . . . ............... 12,913 14,796 14,911
Total shareholders’ equity . . ............... 21,494 20,254 19,254
Total liabilities and shareholders’ equity ...... $ 158,727 $154,426 $ 152,281
Percentage of total average liabilities
attributable to non-U.S. activities ............ 9.4% 11.0% 11.2%
Interest rate spread ......................... 6.3% 6.3% 5.8%
Net interest income and net average yield on
interest-earning assets (e) ................. $5,922 6.2% $5,472 6.1% $5,047 5.6%
(a) Averages based on month end balances.
(b) Interest expense incurred on derivative instruments in qualifying hedging relationships has been reported along with the related interest
expense incurred on the hedged debt instrument.
(c) Amounts include (i) average deferred compensation liability balances, which are included in other liabilities on the Consolidated Balance Sheets,
and (ii) the associated interest expense. The average rate on other liabilities has not been shown as it would not be meaningful (n.m.).
(d) U.S. non-interest-bearing Customer deposits include average Card Member credit balances of $326 million, $313 million and $150 million for
2015, 2014 and 2013, respectively, and non-U.S. non-interest-bearing Customer deposits include average Card Member credit balances of $311
million, $344 million and $219 million for 2015, 2014 and 2013, respectively.
(e) Net average yield on interest-earning assets is defined as net interest income divided by average total interest-earning assets as adjusted for
the items mentioned in footnote (e) from the previous table.
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