American Express 2015 Annual Report Download - page 186
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Years Ended December 31, (Millions, except percentages) 2015 2014 2013 2012 2011
Card Member receivables
Recoveries
U.S. receivables
Consumer ..................................................... $ 271 $ 230 $ 279 $ 267 $ 225
Commercial .................................................... 45 41 38 37 42
Total U.S. recoveries ......................................... 316 271 317 304 267
Non-U.S. receivables
Consumer ..................................................... 57 58 57 54 59
Commercial .................................................... 28 29 28 25 23
Total non-U.S. recoveries ..................................... 85 87 85 79 82
Total recoveries ............................................... 401 358 402 383 349
Net write-offs (b) ................................................... (713) (683) (669) (640) (560)
Other (c)
U.S. receivables
Consumer ..................................................... (1) (3) (10) 15 13
Commercial .................................................... —(1) (1) 3 (5)
Total U.S. other .............................................. (1) (4) (11) 18 8
Non-U.S. receivables
Consumer ..................................................... (22) (24) (6) 7 —
Commercial .................................................... (4) (2) (4) 4 —
Total non-U.S. other .......................................... (26) (26) (10) 11 —
Total other ................................................ (27) (30) (21) 29 8
Allowance for losses at end of year
U.S. receivables
Consumer ..................................................... 268 276 216 273 293
Commercial .................................................... 51 53 35 37 33
Total U.S. receivables ........................................ 319 329 251 310 326
Non-U.S. receivables
Consumer ..................................................... 93 93 98 86 86
Commercial .................................................... 50 43 37 32 26
Total non-U.S. receivables .................................... 143 136 135 118 112
Total allowance for losses .......................................... $462 $ 465 $ 386 $ 428 $ 438
Net write-offs / average Card Member receivables outstanding (d) (e) ... 1.6% 1.5% 1.6% 1.5% 1.4%
(a) Refer to Note 4 to the Consolidated Financial Statements for a discussion of management’s process for evaluating the allowance for receivable
losses.
(b) Net write-offs include principal and fees balances.
(c) Includes foreign currency translation adjustments and other items. Additionally, 2015 includes the impact of transfer of the HFS receivables
portfolio, which was not significant and 2014 includes an adjustment related to reserves for card-related fraud losses of $(7) million, which was
reclassified to Other liabilities.
(d) The net write-off rate presented is on a worldwide basis and is based on write-offs of principal and fees. The year ended December 31, 2015,
reflects the impact of a change in the timing of charge-offs for Card Member receivables in certain modification programs from 180 days past
due to 120 days past due, which was fully recognized during the three months ended March 31, 2015.
(e) Average Card Member receivables outstanding are based on month end balances.
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