← Filings of AXP
Tables in the 10-K of AMERICAN EXPRESS CO
126 tables with numbers, filed Feb 13, 2020. Each one downloads as a CSV for Excel or
Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed.
Open the filing on sec.gov ↗
| Form 10-K Item Number | | Page |
| PART I | |
| 1. | Business | 1 |
| Competition | 4 |
| Supervision and Regulation | 6 |
| Information about our Executive Officers | 15 |
| Additional Information | 17 |
| 1A. | Risk Factors | 17 |
First 8 of 37 rows. The CSV has all of them.
| 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 133 |
| 13. | Certain Relationships and Related Transactions, and Director Independence | 133 |
| 14. | Principal Accounting Fees and Services | 134 |
| PART IV | |
| 15. | Exhibits, Financial Statement Schedules | 135 |
| 16. | Form 10-K Summary | 139 |
| Signatures | 140 |
| Guide 3 — Statistical Disclosure by Bank Holding Companies | A-1 |
| DOUGLAS E. BUCKMINSTER — | Group President, Global Consumer Services Group |
| Mr. Buckminster (59) has been Group President, Global Consumer Services Group since February 2018. Prior thereto, he had been President, Global Consumer Services Group since October 2015 and President, Global Network and International Card Services since February 2012. | |
| JEFFREY C. CAMPBELL — | Chief Financial Officer |
| Mr. Campbell (59) has been Chief Financial Officer since August 2013. | |
| MARC D. GORDON — | Chief Information Officer |
| Mr. Gordon (59) has been Chief Information Officer since September 2012. | |
| MONIQUE HERENA — | Chief Colleague Experience Officer |
| Ms. Herena (48) has been Chief Colleague Experience Officer since April 2019. Ms. Herena joined American Express from BNY Mellon, where she served as the Chief Human Resources Officer and Senior Executive Vice President, Human Resources, Marketing and Communications since 2014. | |
First 8 of 24 rows. The CSV has all of them.
Table 4 after “The following graph compares the cumulative total shareholder return on our common shares with the total return on the S&P 500 Index and the”
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| Year-end Data | 2014 | 2015 | | 2016 | 2017 | 2018 | | 2019 | | |
| American Express | $100.00 | | $75.78 | | $82.28 | | $112.07 | | $109.12 | $144.60 |
| S&P 500 Index | $100.00 | | $101.37 | | $113.49 | | $138.26 | | $132.19 | $173.80 |
| S&P Financial Index | $100.00 | | $98.44 | | $120.83 | | $147.58 | | $128.33 | $169.52 |
Table 5 after “The table below sets forth the information with respect to purchases of our common stock made by or on behalf of us during the quarter ended”
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| Total Number of Shares Purchased | Average Price Paid Per Share | | Total Number of SharesPurchased as Part ofPublicly Announced Plansor Programs(c) | Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs | |
| October 1-31, 2019 | | | | | | |
| Repurchase program(a) | 5,039,911 | | $115.67 | | 5,039,911 | 114,960,089 |
| Employee transactions(b) | 27 | | $116.80 | | N/A | N/A |
| November 1-30, 2019 | | | | | | |
| Repurchase program(a) | 2,226,779 | | $120.74 | | 2,226,779 | 112,733,310 |
| Employee transactions(b) | 3,205 | | $118.07 | | N/A | N/A |
| December 1-31, 2019 | | | | | | |
First 8 of 13 rows. The CSV has all of them.
Table 6 after “ITEM 6. SELECTED FINANCIAL DATA”
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| 2019 | 2018 | | 2017 | 2016 | 2015(a) | | |
| Operating Results ($ in Millions) | | | | | | | | |
| Total revenues net of interest expense | $43,556 | | $40,338 | | $36,878 | | $35,438 | $32,818 |
| Provisions for losses(b) | 3,573 | | 3,352 | | 2,760 | | 2,027 | 1,988 |
| Expenses(b) | 31,554 | | 28,864 | | 26,693 | | 25,369 | 22,892 |
| Pretax income | 8,429 | | 8,122 | | 7,425 | | 8,042 | 7,938 |
| Income tax provision | 1,670 | | 1,201 | | 4,677 | | 2,667 | 2,775 |
| Net income | 6,759 | | $6,921 | | $2,748 | | $5,375 | $5,163 |
First 8 of 40 rows. The CSV has all of them.
Table 7 after “TABLE 1: SUMMARY OF FINANCIAL PERFORMANCE”
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| Years Ended December 31, | | | | | Change | | Change | | | |
| (Millions, except percentages and per share amounts) | 2019 | 2018 | | 2017 | 2019 vs. 2018 | | 2018 vs. 2017 | | | |
| Total revenues net of interest expense | $43,556 | | $40,338 | | $36,878 | $3,218 | | 8% | $3,460 | 9% |
| Provisions for losses | 3,573 | | 3,352 | | 2,760 | 221 | | 7 | 592 | 21 |
| Expenses | 31,554 | | 28,864 | | 26,693 | 2,690 | | 9 | 2,171 | 8 |
| Pretax income | 8,429 | | 8,122 | | 7,425 | 307 | | 4 | 697 | 9 |
| Income tax provision | 1,670 | | 1,201 | | 4,677 | 469 | | 39 | (3,476) | (74) |
| Net income | 6,759 | | 6,921 | | 2,748 | (162) | | (2) | 4,173 | # |
First 8 of 13 rows. The CSV has all of them.
Table 8 after “TABLE 2: TOTAL REVENUES NET OF INTEREST EXPENSE SUMMARY”
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| Years Ended December 31, | | | | | Change | | Change | | | |
| (Millions, except percentages) | 2019 | 2018 | | 2017 | 2019 vs. 2018 | | 2018 vs. 2017 | | | |
| Discount revenue | $26,167 | | $24,721 | | $22,890 | $1,446 | | 6% | $1,831 | 8% |
| Net card fees | 4,042 | | 3,441 | | 3,090 | 601 | | 17 | 351 | 11 |
| Other fees and commissions | 3,297 | | 3,153 | | 2,990 | 144 | | 5 | 163 | 5 |
| Other | 1,430 | | 1,360 | | 1,457 | 70 | | 5 | (97) | (7) |
| Total non-interest revenues | 34,936 | | 32,675 | | 30,427 | 2,261 | | 7 | 2,248 | 7 |
| Total interest income | 12,084 | | 10,606 | | 8,563 | 1,478 | | 14 | 2,043 | 24 |
First 8 of 11 rows. The CSV has all of them.
Table 9 after “TABLE 3: PROVISIONS FOR LOSSES SUMMARY”
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| Years Ended December 31, | | | | | Change | | Change | | | |
| (Millions, except percentages) | 2019 | 2018 | | 2017 | 2019 vs. 2018 | | 2018 vs. 2017 | | | |
| Charge card | $963 | | $937 | | $795 | $26 | | 3% | $142 | 18% |
| Card Member loans | 2,462 | | 2,266 | | 1,868 | 196 | | 9 | 398 | 21 |
| Other | 148 | | 149 | | 97 | (1) | | (1) | 52 | 54 |
| Total provisions for losses | $3,573 | | $3,352 | | $2,760 | $221 | | 7% | $592 | 21% |
| Years Ended December 31, | | | | | Change | | Change | | | |
| (Millions, except percentages) | 2019 | 2018 | | 2017 | 2019 vs. 2018 | | 2018 vs. 2017 | | | |
| Marketing and business development | $7,114 | | $6,470 | | $5,722 | $644 | | 10% | $748 | 13% |
| Card Member rewards | 10,439 | | 9,696 | | 8,687 | 743 | | 8 | 1,009 | 12 |
| Card Member services | 2,222 | | 1,777 | | 1,392 | 445 | | 25 | 385 | 28 |
| Total marketing, business development, rewards and Card Member services | 19,775 | | 17,943 | | 15,801 | 1,832 | | 10 | 2,142 | 14 |
| Salaries and employee benefits | 5,911 | | 5,250 | | 5,258 | 661 | | 13 | (8) | — |
| Other, net | 5,868 | | 5,671 | | 5,634 | 197 | | 3 | 37 | 1 |
First 8 of 9 rows. The CSV has all of them.
Table 11 after “TABLE 5: SELECTED CARD-RELATED STATISTICAL INFORMATION”
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| | | | | Change | Change | | |
| Years Ended December 31, | 2019 | 2018 | | 2017 | 2019 vs. 2018 | 2018 vs. 2017 | | |
| Billed business: (billions) | | | | | | | | |
| U.S. | $827.7 | | $777.6 | | $708.3 | | 6% | 10% |
| Outside the U.S. | 413.1 | | 406.4 | | 376.9 | | 2 | 8 |
| Total | $1,240.8 | | $1,184.0 | | $1,085.2 | | 5 | 9 |
| Proprietary | $1,070.5 | | $1,002.6 | | $900.6 | | 7 | 11 |
| GNS | 170.3 | | 181.4 | | 184.6 | | (6) | (2) |
First 8 of 26 rows. The CSV has all of them.
Table 12 after “TABLE 6: BILLED BUSINESS GROWTH”
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| 2019 | | | 2018 | | | |
| Percentage Increase (Decrease) | Percentage Increase (Decrease) Assuming No Changes in FX Rates(a) | | Percentage Increase (Decrease) | | Percentage Increase (Decrease)Assuming No Changes in FX Rates(a) | |
| Worldwide | | | | | | | |
| Proprietary | | | | | | | |
| Proprietary consumer | 8% | | 9% | | | 12% | 12% |
| Proprietary commercial | 6 | | 6 | | | 11 | 11 |
| Total Proprietary | 7 | | 8 | | | 11 | 11 |
| GNS | (6) | | (2) | | | (2) | (1) |
First 8 of 28 rows. The CSV has all of them.
Table 13 after “TABLE 7: SELECTED CREDIT-RELATED STATISTICAL INFORMATION”
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| As of or for the Years Ended December 31, | | | | | Change | Change | | |
| (Millions, except percentages and where indicated) | 2019 | 2018 | | 2017 | 2019 vs. 2018 | 2018 vs. 2017 | | |
| Worldwide Card Member loans | | | | | | | | |
| Card Member loans: (billions) | | | | | | | | |
| U.S. | $76.0 | | $72.0 | | $64.5 | | 6% | 12% |
| Outside the U.S. | 11.4 | | 9.9 | | 8.9 | | 15 | 11 |
| Total | $87.4 | | $81.9 | | $73.4 | | 7 | 12 |
| Loss reserves: | | | | | | | | |
First 8 of 39 rows. The CSV has all of them.
Table 14 after “TABLE 8: NET INTEREST YIELD ON AVERAGE CARD MEMBER LOANS”
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| Years Ended December 31, | | | | | |
| (Millions, except percentages and where indicated) | 2019 | 2018 | | 2017 | |
| Net interest income | $8,620 | | $7,663 | | $6,451 |
| Exclude: | | | | | |
| Interest expense not attributable to our Card Member loan portfolio (a) | 1,732 | | 1,456 | | 1,149 |
| Interest income not attributable to our Card Member loan portfolio (b) | (1,226) | | (1,010) | | (637) |
| Adjusted net interest income (c) | $9,126 | | $8,109 | | $6,963 |
| Average Card Member loans (billions) | $82.8 | | $75.8 | | $66.7 |
First 8 of 10 rows. The CSV has all of them.
Table 15 after “TABLE 9: GCSG SELECTED INCOME STATEMENT DATA”
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| Years Ended December 31, | | | | | Change | | Change | | | |
| (Millions, except percentages) | 2019 | 2018 | | 2017 | 2019 vs. 2018 | | 2018 vs. 2017 | | | |
| Revenues | | | | | | | | | | |
| Non-interest revenues | $15,972 | | $14,675 | | $13,378 | $1,297 | | 9% | $1,297 | 10% |
| Interest income | 9,413 | | 8,323 | | 6,789 | 1,090 | | 13 | 1,534 | 23 |
| Interest expense | 1,806 | | 1,542 | | 1,047 | 264 | | 17 | 495 | 47 |
| Net interest income | 7,607 | | 6,781 | | 5,742 | 826 | | 12 | 1,039 | 18 |
| Total revenues net of interest expense | 23,579 | | 21,456 | | 19,120 | 2,123 | | 10 | 2,336 | 12 |
First 8 of 18 rows. The CSV has all of them.
Table 16 after “TABLE 10: GCSG SELECTED STATISTICAL INFORMATION”
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| As of or for the Years Ended December 31, | | | | | Change | Change | | |
| (Millions, except percentages and where indicated) | 2019 | 2018 | | 2017 | 2019 vs. 2018 | 2018 vs. 2017 | | |
| Proprietary billed business: (billions) | | | | | | | | |
| U.S. | $398.8 | | $371.1 | | $336.9 | | 7% | 10% |
| Outside the U.S. | 154.0 | | 140.3 | | 119.8 | | 10 | 17 |
| Total | $552.8 | | $511.4 | | $456.7 | | 8 | 12 |
| Proprietary cards-in-force: | | | | | | | | |
| U.S. | 37.9 | | 37.7 | | 34.9 | | 1 | 8 |
First 8 of 40 rows. The CSV has all of them.
| | | | | Change | Change | | |
| (Millions, except percentages and where indicated) | 2019 | 2018 | | 2017 | 2019 vs. 2018 | 2018 vs. 2017 | | |
| Card Member receivables: (billions) | | | | | | | | |
| U.S. | $14.2 | | $13.7 | | $13.1 | | 4% | 5% |
| Outside the U.S. | 8.6 | | 7.8 | | 7.8 | | 10 | — |
| Total receivables | $22.8 | | $21.5 | | $20.9 | | 6% | 3% |
| U.S. | | | | | | | | |
| Net write-off rate — principal only (b) | 1.4% | | 1.3% | | 1.3% | | | |
First 8 of 18 rows. The CSV has all of them.
Table 18 after “TABLE 11: GCSG NET INTEREST YIELD ON AVERAGE CARD MEMBER LOANS”
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| As of or for the Years Ended December 31, | | | | | |
| (Millions, except percentages and where indicated) | 2019 | 2018 | | 2017 | |
| U.S. | | | | | |
| Net interest income | $6,557 | | $5,895 | | $4,961 |
| Exclude: | | | | | |
| Interest expense not attributable to our Card Member loan portfolio(a) | 257 | | 202 | | 164 |
| Interest income not attributable to our Card Member loan portfolio(b) | (219) | | (178) | | (101) |
| Adjusted net interest income(c) | $6,595 | | $5,919 | | $5,024 |
First 8 of 29 rows. The CSV has all of them.
Table 19 after “TABLE 12: GCS SELECTED INCOME STATEMENT DATA”
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| Years Ended December 31, | | | | | Change | | Change | | | |
| (Millions, except percentages) | 2019 | 2018 | | 2017 | 2019 vs. 2018 | | 2018 vs. 2017 | | | |
| Revenues | | | | | | | | | | |
| Non-interest revenues | $12,623 | | $11,882 | | $10,942 | $741 | | 6% | $940 | 9% |
| Interest income | 1,900 | | 1,621 | | 1,361 | 279 | | 17 | 260 | 19 |
| Interest expense | 995 | | 827 | | 595 | 168 | | 20 | 232 | 39 |
| Net interest income | 905 | | 794 | | 766 | 111 | | 14 | 28 | 4 |
| Total revenues net of interest expense | 13,528 | | 12,676 | | 11,708 | 852 | | 7 | 968 | 8 |
First 8 of 18 rows. The CSV has all of them.
Table 20 after “TABLE 13: GCS SELECTED STATISTICAL INFORMATION”
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| As of or for the Years Ended December 31, | | | | | Change | Change | | |
| (Millions, except percentages and where indicated) | 2019 | 2018 | | 2017 | 2019 vs. 2018 | 2018 vs. 2017 | | |
| Proprietary billed business (billions) | $513.3 | | $486.2 | | $438.1 | | 6% | 11% |
| Proprietary cards-in-force | 14.9 | | 14.5 | | 14.0 | | 3 | 4 |
| Average Card Member spending (dollars) | $34,905 | | $34,058 | | $31,729 | | 2 | 7 |
| Total segment assets (billions)(a) | $52.8 | | $51.3 | | $48.5 | | 3 | 6 |
| Card Member loans (billions) | $14.1 | | $12.4 | | $11.1 | | 14 | 12 |
| Card Member receivables (billions) | $34.6 | | $34.4 | | $33.1 | | 1 | 4 |
First 8 of 32 rows. The CSV has all of them.
Table 21 after “TABLE 14: GMNS SELECTED INCOME STATEMENT AND OTHER DATA”
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| Years Ended December 31, | | | | | Change | | Change | | | |
| (Millions, except percentages and where indicated) | 2019 | 2018 | | 2017 | 2019 vs. 2018 | | 2018 vs. 2017 | | | |
| Revenues | | | | | | | | | | |
| Non-interest revenues | $6,252 | | $6,069 | | $6,025 | $183 | | 3% | $44 | 1% |
| Interest income | 28 | | 30 | | 42 | (2) | | (7) | (12) | (29) |
| Interest expense | (365) | | (294) | | (188) | (71) | | 24 | (106) | 56 |
| Net interest income | 393 | | 324 | | 230 | 69 | | 21 | 94 | 41 |
| Total revenues net of interest expense | 6,645 | | 6,393 | | 6,255 | 252 | | 4 | 138 | 2 |
First 8 of 19 rows. The CSV has all of them.
Table 22 after “TABLE 15: REGULATORY RISK-BASED CAPITAL AND LEVERAGE RATIOS”
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| Basel III Minimum | Ratios as of December 31, 2019 |
| Risk-Based Capital | | |
| Common Equity Tier 1 | 7.0% | |
| American Express Company | | 10.7% |
| American Express National Bank | | 13.4 |
| Tier 1 | 8.5 | |
| American Express Company | | 11.6 |
| American Express National Bank | | 13.4 |
First 8 of 17 rows. The CSV has all of them.
Table 23 after “TABLE 16: REGULATORY RISK-BASED CAPITAL COMPONENTS AND RISK-WEIGHTED ASSETS”
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| American Express Company($ in Billions) | December 31, 2019 |
| Risk-Based Capital | |
| Common Equity Tier 1 | $18.1 |
| Tier 1 Capital | 19.6 |
| Tier 2 Capital | 2.6 |
| Total Capital | 22.2 |
| Risk-Weighted Assets | 168.5 |
| Average Total Assets to calculate the Tier 1 Leverage Ratio | 192.3 |
First 8 of 9 rows. The CSV has all of them.
Table 24 after “TABLE 17: SUMMARY OF CONSOLIDATED DEBT AND CUSTOMER DEPOSITS”
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| (Billions) | 2019 | 2018 | |
| Short-term borrowings | $6.4 | | $3.1 |
| Long-term debt | 57.8 | | 58.4 |
| Total debt | 64.2 | | 61.5 |
| Customer deposits | 73.3 | | 70.0 |
| Total debt and customer deposits | $137.5 | | $131.5 |
Table 25 after “TABLE 18: UNSECURED DEBT RATINGS”
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| Credit Agency | American Express Entity | Short-Term Ratings | Long-Term Ratings | Outlook |
| Fitch | All rated entities | F1 | A | Stable |
| Moody’s | American Express Travel Related Services Company, Inc. | N/A | A2 | Stable |
| Moody's | American Express Credit Corporation | Prime-1 | A2 | Stable |
| Moody’s | American Express National Bank | Prime-1 | A3 | Stable |
| Moody's | American Express Company | N/A | A3 | Stable |
| S&P | American Express Travel Related Services Company, Inc. | N/A | A- | Stable |
| S&P | American Express Credit Corporation and American Express National Bank | A-2 | A- | Stable |
First 8 of 9 rows. The CSV has all of them.
| (Billions) | 2019 |
| American Express Company: | |
| Fixed Rate Senior Notes (weighted-average coupon of 2.92%) | $5.6 |
| Floating Rate Senior Notes (3-month LIBOR plus 62 basis points) | 0.9 |
| American Express Credit Account Master Trust: | |
| Fixed Rate Class A Certificates (weighted-average coupon of 2.55%) | 4.2 |
| Fixed Rate Class B Certificates (weighted-average coupon of 2.75%) | 0.2 |
| Floating Rate Class A Certificates (1-month LIBOR plus 24 basis points) | 0.8 |
First 8 of 9 rows. The CSV has all of them.
| (Billions) | 2019 | 2018 | | 2017 | |
| Total cash provided by (used in): | | | | | |
| Operating activities | $13.6 | | $8.9 | | $13.5 |
| Investing activities | (16.7) | | (19.6) | | (18.2) |
| Financing activities | (0.5) | | 5.1 | | 12.2 |
| Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash | 0.2 | | 0.1 | | 0.3 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | $(3.4) | | $(5.5) | | $7.8 |
Table 28 after “TABLE 21: COMMITTED FUTURE OBLIGATIONS BY YEAR”
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| Payments due by year(a) | | | | | | | |
| (Millions) | 2020 | 2021-2022 | | 2023-2024 | 2025 and thereafter | Total | | |
| Long-term debt | $15,615 | | $25,898 | | $12,050 | | $4,883 | $58,446 |
| Certificates of deposit | 4,632 | | 4,687 | | 625 | | — | 9,944 |
| Interest payments on long-term debt(b) | 1,426 | | 1,844 | | 743 | | 1,246 | 5,259 |
| Lease obligations | 134 | | 214 | | 166 | | 842 | 1,356 |
| Deemed repatriation tax(c) | — | | — | | 263 | | 749 | 1,012 |
| Purchase obligations(d) | 269 | | 188 | | 33 | | — | 490 |
First 8 of 10 rows. The CSV has all of them.
Table 29 after “INDEX TO CONSOLIDATED FINANCIAL STATEMENTS”
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| CONSOLIDATED FINANCIAL STATEMENTS | PAGE |
| Consolidated Statements of Income – For the Years Ended December 31, 2019, 2018 and 2017 | 78 |
| Consolidated Statements of Comprehensive Income – For the Years Ended December 31, 2019, 2018 and 2017 | 79 |
| Consolidated Balance Sheets – December 31, 2019 and 2018 | 80 |
| Consolidated Statements of Cash Flows – For the Years Ended December 31, 2019, 2018 and 2017 | 81 |
| Consolidated Statements of Shareholders’ Equity – For the Years Ended December 31, 2019, 2018 and 2017 | 82 |
| NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | 83 |
| Note 1 – Summary of Significant Accounting Policies | 83 |
First 8 of 33 rows. The CSV has all of them.
Table 30 after “CONSOLIDATED STATEMENTS OF INCOME”
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| Year Ended December 31 (Millions, except per share amounts) | 2019 | 2018 | | 2017 | |
| Revenues | | | | | |
| Non-interest revenues | | | | | |
| Discount revenue | $26,167 | | $24,721 | | $22,890 |
| Net card fees | 4,042 | | 3,441 | | 3,090 |
| Other fees and commissions | 3,297 | | 3,153 | | 2,990 |
| Other | 1,430 | | 1,360 | | 1,457 |
| Total non-interest revenues | 34,936 | | 32,675 | | 30,427 |
First 8 of 41 rows. The CSV has all of them.
Table 31 after “CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME”
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| Year Ended December 31 (Millions) | 2019 | 2018 | | 2017 | |
| Net income | $6,759 | | $6,921 | | $2,748 |
| Other comprehensive (loss) income: | | | | | |
| Net unrealized securities gains (losses), net of tax | 41 | | (8) | | (7) |
| Foreign currency translation adjustments, net of tax | (56) | | (172) | | 301 |
| Net unrealized pension and other postretirement benefits, net of tax | (125) | | 11 | | 62 |
| Other comprehensive (loss) income | (140) | | (169) | | 356 |
| Comprehensive income | $6,619 | | $6,752 | | $3,104 |
| December 31 (Millions, except share data) | 2019 | 2018 | |
| Assets | | | |
| Cash and cash equivalents | | | |
| Cash and due from banks | $3,402 | | $3,253 |
| Interest-bearing deposits in other banks (includes securities purchased under resale agreements: 2019, $87; 2018, $64) | 20,392 | | 24,026 |
| Short-term investment securities | 138 | | 166 |
| Total cash and cash equivalents | 23,932 | | 27,445 |
| Card Member receivables (includes gross receivables available to settle obligations of a consolidated variable interest entity: 2019, $8,284; 2018, $8,539), less reserves: 2019, $619; 2018, $573 | 56,794 | | 55,320 |
First 8 of 35 rows. The CSV has all of them.
Table 33 after “CONSOLIDATED STATEMENTS OF CASH FLOWS”
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| Years Ended December 31 (Millions) | 2019 | 2018 | | 2017 | |
| Cash Flows from Operating Activities | | | | | |
| Net income | $6,759 | | $6,921 | | $2,748 |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | |
| Provisions for losses | 3,573 | | 3,352 | | 2,760 |
| Depreciation and amortization | 1,188 | | 1,293 | | 1,321 |
| Deferred taxes and other | 426 | | 455 | | 782 |
| Stock-based compensation | 283 | | 283 | | 282 |
First 8 of 34 rows. The CSV has all of them.
Table 34 after “Supplemental cash flow information”
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| Cash, cash equivalents and restricted cash reconciliation | Dec-19 | Dec-18 | | Dec-17 | |
| Cash and cash equivalents per Consolidated Balance Sheets | $23,932 | | $27,445 | | $32,927 |
| Restricted cash included in Other assets per Consolidated Balance Sheets | 514 | | 363 | | 336 |
| Total cash, cash equivalents and restricted cash | $24,446 | | $27,808 | | $33,263 |
Table 35 after “CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY”
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| (Millions, except per share amounts) | Total | Preferred Shares | | Common Shares | Additional Paid-in Capital | Accumulated Other Comprehensive Loss | | Retained Earnings | | |
| Balances as of December 31, 2016 | $20,523 | | $— | | $181 | | $12,733 | | $(2,784) | $10,393 |
| Net income | 2,748 | | — | | — | | — | | — | 2,748 |
| Other comprehensive income | 356 | | — | | — | | — | | 356 | — |
| Repurchase of common shares | (4,314) | | — | | (10) | | (742) | | — | (3,562) |
| Other changes, primarily employee plans | 212 | | — | | 1 | | 219 | | — | (8) |
| Cash dividends declared preferred Series B, $52.00 per share | (39) | | — | | — | | — | | — | (39) |
| Cash dividends declared preferred Series C, $49.00 per share | (42) | | — | | — | | — | | — | (42) |
First 8 of 26 rows. The CSV has all of them.
Table 36 after “The following table identifies our other significant accounting policies, along with the related Note.”
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| Significant Accounting Policy | Note Number | Note Title |
| Loans and Accounts Receivable | Note 2 | Loans and Accounts Receivable |
| Reserves for Losses | Note 3 | Reserves for Losses |
| Investment Securities | Note 4 | Investment Securities |
| Asset Securitizations | Note 5 | Asset Securitizations |
| Legal Contingencies | Note 12 | Contingencies and Commitments |
| Derivative Financial Instruments and Hedging Activities | Note 13 | Derivatives and Hedging Activities |
| Fair Value Measurements | Note 14 | Fair Values |
First 8 of 10 rows. The CSV has all of them.
Table 37 after “Card Member loans by segment and Other loans as of December 31, 2019 and 2018 consisted of:”
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| (Millions) | 2019 | 2018 | |
| Global Consumer Services Group(a) | $73,266 | | $69,458 |
| Global Commercial Services | 14,115 | | 12,396 |
| Card Member loans | 87,381 | | 81,854 |
| Less: Reserve for losses | 2,383 | | 2,134 |
| Card Member loans, net | $84,998 | | $79,720 |
| Other loans, net(b) | $4,626 | | $3,676 |
Table 38 after “Card Member receivables by segment as of December 31, 2019 and 2018 consisted of:”
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| (Millions) | 2019 | 2018 | |
| Global Consumer Services Group (a) | $22,844 | | $21,455 |
| Global Commercial Services | 34,569 | | 34,438 |
| Card Member receivables | 57,413 | | 55,893 |
| Less: Reserve for losses | 619 | | 573 |
| Card Member receivables, net | $56,794 | | $55,320 |
Table 39 after “The following table presents the aging of Card Member loans and receivables as of December 31, 2019 and 2018:”
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| 2019 (millions) | Current | 30-59 Days Past Due | | 60-89 Days Past Due | 90+ Days Past Due | Total | | |
| Card Member Loans: | | | | | | | | |
| Global Consumer Services Group | $72,101 | | $322 | | $253 | | $590 | $73,266 |
| Global Commercial Services | | | | | | | | |
| Global Small Business Services | 13,898 | | 56 | | 40 | | 85 | 14,079 |
| Global Corporate Payments(a) | (b) | (b) | | (b) | — | | 36 | |
| Card Member Receivables: | | | | | | | | |
| Global Consumer Services Group | 22,560 | | 86 | | 58 | | 140 | 22,844 |
First 8 of 11 rows. The CSV has all of them.
Table 40 after “The following table presents the aging of Card Member loans and receivables as of December 31, 2019 and 2018:”
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| 2018 (millions) | Current | 30-59 Days Past Due | | 60-89 Days Past Due | 90+ Days Past Due | Total | | |
| Card Member Loans: | | | | | | | | |
| Global Consumer Services Group | $68,442 | | $290 | | $220 | | $506 | $69,458 |
| Global Commercial Services | | | | | | | | |
| Global Small Business Services | 12,195 | | 51 | | 32 | | 73 | 12,351 |
| Global Corporate Payments(a) | (b) | (b) | | (b) | — | | 45 | |
| Card Member Receivables: | | | | | | | | |
| Global Consumer Services Group | 21,207 | | 80 | | 50 | | 118 | 21,455 |
First 8 of 11 rows. The CSV has all of them.
Table 41 after “The following tables present the key credit quality indicators as of or for the years ended December 31:”
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| 2019 | | | | 2018 | | | | | |
| Net Write-Off Rate | | | | Net Write-Off Rate | | | | | |
| PrincipalOnly(a) | Principal,Interest, &Fees(a) | | 30+ Days Past Due as a % of Total | PrincipalOnly(a) | Principal,Interest, &Fees(a) | | 30+ Days Past Due as a % of Total | | |
| Card Member Loans: | | | | | | | | | | |
| Global Consumer Services Group | 2.3% | | 2.8% | | 1.6% | | 2.1% | | 2.5% | 1.5% |
| Global Small Business Services | 1.9% | | 2.2% | | 1.3% | | 1.7% | | 2.0% | 1.3% |
| Card Member Receivables: | | | | | | | | | | |
| Global Consumer Services Group | 1.7% | | 1.9% | | 1.2% | | 1.6% | | 1.8% | 1.2% |
First 8 of 9 rows. The CSV has all of them.
Table 42 after “The following tables present the key credit quality indicators as of or for the years ended December 31:”
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| 2019 | | | 2018 | | |
| Net Loss Ratio as a % of Charge Volume | 90+ Days Past Billing as a % of Receivables | | Net Loss Ratio as a % of Charge Volume | 90+ Days Past Billing as a % of Receivables | |
| Card Member Receivables: | | | | | | |
| Global Corporate Payments | 0.08% | | 0.8% | | 0.11% | 0.7% |
Table 43 after “The following tables provide additional information with respect to our impaired Card Member loans and receivables as of December 31, 2019, ”
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| As of December 31, 2019 | | | | | | | | | | |
| | | | Accounts Classifiedas a TDR (c) | | | | | | | |
| (Millions) | Over 90 days Past Due & Accruing Interest(a) | Non-Accruals(b) | | In Program(d) | Out of Program(e) | Total Impaired Balance | | Unpaid Principal Balance | Allowance for TDRs | | |
| Card Member Loans: | | | | | | | | | | | |
| Global Consumer Services Group(f) | $384 | | $284 | | $500 | | $175 | | $1,343 | $1,199 | $137 |
| Global Commercial Services | 44 | | 54 | | 97 | | 38 | | 233 | 220 | 22 |
| Card Member Receivables: | | | | | | | | | | | |
| Global Consumer Services Group | — | | — | | 56 | | 16 | | 72 | 72 | 3 |
First 8 of 10 rows. The CSV has all of them.
Table 44 after “The following tables provide additional information with respect to our impaired Card Member loans and receivables as of December 31, 2019, ”
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| As of December 31, 2018 | | | | | | | | | | |
| | | | Accounts Classifiedas a TDR (c) | | | | | | | |
| (Millions) | Over 90 days Past Due & Accruing Interest(a) | Non-Accruals(b) | | In Program(d) | Out of Program(e) | Total Impaired Balance | | Unpaid Principal Balance | Allowance for TDRs | | |
| Card Member Loans: | | | | | | | | | | | |
| Global Consumer Services Group(f) | $344 | | $236 | | $313 | | $131 | | $1,024 | $923 | $80 |
| Global Commercial Services | 43 | | 43 | | 59 | | 29 | | 174 | 161 | 14 |
| Card Member Receivables: | | | | | | | | | | | |
| Global Consumer Services Group | — | | — | | 29 | | 13 | | 42 | 42 | 2 |
First 8 of 10 rows. The CSV has all of them.
Table 45 after “The following tables provide additional information with respect to our impaired Card Member loans and receivables as of December 31, 2019, ”
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| As of December 31, 2017 | | | | | | | | | | |
| | | | Accounts Classifiedas a TDR (c) | | | | | | | |
| (Millions) | Over 90 days Past Due & Accruing Interest(a) | Non-Accruals(b) | | In Program(d) | Out of Program(e) | Total Impaired Balance | | Unpaid Principal Balance | Allowance for TDRs | | |
| Card Member Loans: | | | | | | | | | | | |
| Global Consumer Services Group(f) | $289 | | $168 | | $178 | | $131 | | $766 | $694 | $49 |
| Global Commercial Services | 38 | | 31 | | 31 | | 27 | | 127 | 118 | 8 |
| Card Member Receivables: | | | | | | | | | | | |
| Global Consumer Services Group | — | | — | | 15 | | 9 | | 24 | 24 | 1 |
First 8 of 10 rows. The CSV has all of them.
Table 46 after “The following table provides information with respect to our average balances and interest income recognized from impaired Card Member loans”
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| 2019 (Millions) | Average Balance | Interest Income Recognized | |
| Card Member Loans: | | | |
| Global Consumer Services Group | $1,159 | | $136 |
| Global Commercial Services | 203 | | 25 |
| Card Member Receivables: | | | |
| Global Consumer Services Group | 56 | | — |
| Global Commercial Services | 112 | | — |
| Total | $1,530 | | $161 |
Table 47 after “The following table provides information with respect to our average balances and interest income recognized from impaired Card Member loans”
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| 2018 (Millions) | Average Balance | Interest Income Recognized | |
| Card Member Loans: | | | |
| Global Consumer Services Group | $878 | | $109 |
| Global Commercial Services | 150 | | 21 |
| Card Member Receivables: | | | |
| Global Consumer Services Group | 33 | | — |
| Global Commercial Services | 73 | | — |
| Total | $1,134 | | $130 |
Table 48 after “The following table provides information with respect to our average balances and interest income recognized from impaired Card Member loans”
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| 2017 (Millions) | Average Balance | Interest Income Recognized | |
| Card Member Loans: | | | |
| Global Consumer Services Group | $699 | | $85 |
| Global Commercial Services | 120 | | 17 |
| Card Member Receivables: | | | |
| Global Consumer Services Group | 20 | | — |
| Global Commercial Services | 45 | | — |
| Total | $884 | | $102 |
Table 49 after “The following table provides additional information with respect to Card Member loans and receivables modified as TDRs for the years ended D”
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| 2019 | Number of Accounts (in thousands) | Outstanding Balances($ in millions) (a) | | Average Interest Rate Reduction (% points) | Average Payment Term Extensions (# of months) | | |
| Troubled Debt Restructurings: | | | | | | | |
| Card Member Loans | 78 | | $602 | | 13 | (b) | |
| Card Member Receivables | 9 | | 210 | | (c) | | 26 |
| Total | 87 | | $812 | | | | |
Table 50 after “The following table provides additional information with respect to Card Member loans and receivables modified as TDRs for the years ended D”
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| 2018 | Number of Accounts (in thousands) | Outstanding Balances($ in millions) (a) | | Average Interest Rate Reduction (% points) | Average Payment Term Extensions (# of months) | | |
| Troubled Debt Restructurings: | | | | | | | |
| Card Member Loans | 51 | | $377 | | 12 | (b) | |
| Card Member Receivables | 6 | | 110 | | (c) | | 28 |
| Total | 57 | | $487 | | | | |
Table 51 after “The following table provides additional information with respect to Card Member loans and receivables modified as TDRs for the years ended D”
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| 2017 | Number of Accounts (in thousands) | Outstanding Balances($ in millions) (a) | | Average Interest Rate Reduction (% points) | Average Payment Term Extensions (# of months) | | |
| Troubled Debt Restructurings: | | | | | | | |
| Card Member Loans | 33 | | $224 | | 10 | (b) | |
| Card Member Receivables | 6 | | 83 | | (c) | | 28 |
| Total | 39 | | $307 | | | | |
Table 52 after “The following table provides information with respect to Card Member loans and receivables modified as TDRs that subsequently defaulted with”
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| 2019 | Number of Accounts (thousands) | Aggregated Outstanding Balances Upon Default(a)(millions) | |
| Troubled Debt Restructurings That Subsequently Defaulted: | | | |
| Card Member Loans | 12 | | $86 |
| Card Member Receivables | 4 | | 20 |
| Total | 16 | | $106 |
Table 53 after “The following table provides information with respect to Card Member loans and receivables modified as TDRs that subsequently defaulted with”
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| Number of Accounts | Aggregated Outstanding Balances Upon Default(a) | |
| 2018 | (thousands) | (millions) | |
| Troubled Debt Restructurings That Subsequently Defaulted: | | | |
| Card Member Loans | 8 | | $46 |
| Card Member Receivables | 4 | | 11 |
| Total | 12 | | $57 |
Table 54 after “The following table provides information with respect to Card Member loans and receivables modified as TDRs that subsequently defaulted with”
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| Number of Accounts | Aggregated Outstanding Balances Upon Default(a) | |
| 2017 | (thousands) | (millions) | |
| Troubled Debt Restructurings That Subsequently Defaulted: | | | |
| Card Member Loans | 6 | | $39 |
| Card Member Receivables | 3 | | 7 |
| Total | 9 | | $46 |
Table 55 after “The following table presents changes in the Card Member loans reserve for losses for the years ended December 31:”
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| (Millions) | 2019 | 2018 | | 2017 | |
| Balance, January 1 | $2,134 | | $1,706 | | $1,223 |
| Provisions(a) | 2,462 | | 2,266 | | 1,868 |
| Net write-offs (b) | | | | | |
| Principal | (1,860) | | (1,539) | | (1,181) |
| Interest and fees | (375) | | (304) | | (227) |
| Other(c) | 22 | | 5 | | 23 |
| Balance, December 31 | $2,383 | | $2,134 | | $1,706 |
Table 56 after “The following table presents Card Member loans evaluated individually and collectively for impairment and related reserves as of December 31”
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| (Millions) | 2019 | 2018 | | 2017 | |
| Card Member loans evaluated individually for impairment (a) | $810 | | $532 | | $367 |
| Related reserves(a) | $159 | | $94 | | $57 |
| Card Member loans evaluated collectively for impairment (b) | $86,571 | | $81,322 | | $73,032 |
| Related reserves(b) | $2,224 | | $2,040 | | $1,649 |
Table 57 after “The following table presents changes in the Card Member receivables reserve for losses for the years ended December 31:”
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| (Millions) | 2019 | 2018 | | 2017 | |
| Balance, January 1 | $573 | | $521 | | $467 |
| Provisions(a) | 963 | | 937 | | 795 |
| Net write-offs(b) | (900) | | (859) | | (736) |
| Other(c) | (17) | | (26) | | (5) |
| Balance, December 31 | $619 | | $573 | | $521 |
Table 58 after “The following table presents Card Member receivables evaluated individually and collectively for impairment and related reserves as of Decem”
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| (Millions) | 2019 | 2018 | | 2017 | |
| Card Member receivables evaluated individually for impairment(a) | $211 | | $128 | | $80 |
| Related reserves(a) | $9 | | $7 | | $3 |
| Card Member receivables evaluated collectively for impairment | $57,202 | | $55,765 | | $53,967 |
| Related reserves(b) | $610 | | $566 | | $518 |
Table 59 after “The following is a summary of investment securities as of December 31:”
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| 2019 | | | | | | 2018 | | | | | | 2017 | | | | | | | | |
| Description of Securities (Millions) | Cost | Gross Unrealized Gains | | Gross Unrealized Losses | | Estimated Fair Value | Cost | | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | | Cost | Gross Unrealized Gains | Gross Unrealized Losses | | Estimated Fair Value | | | | |
| Available-for-sale debt securities: | | | | | | | | | | | | | | | | | | | | | |
| State and municipal obligations | $236 | | $8 | | | $(1) | | $243 | | $594 | | $4 | | $(2) | | $596 | | $1,369 | $11 | $(3) | $1,377 |
| U.S. Government agency obligations | 9 | | — | | | — | | 9 | | 10 | | — | | — | | 10 | | 11 | — | — | 11 |
| U.S. Government treasury obligations | 7,395 | | 35 | | | (1) | | 7,429 | | 3,452 | | 5 | | (17) | | 3,440 | | 1,051 | 3 | (9) | 1,045 |
| Corporate debt securities | 27 | | — | | | — | | 27 | | 28 | | — | | — | | 28 | | 28 | — | — | 28 |
| Mortgage-backed securities (a) | 39 | | 2 | | | — | | 41 | | 50 | | 1 | | — | | 51 | | 67 | 2 | — | 69 |
First 8 of 11 rows. The CSV has all of them.
Table 60 after “The following table provides information about our investment securities with gross unrealized losses and the length of time that individual”
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| 2019 | | | | | 2018 | | | | | | | |
| Less than 12 months | | | 12 months or more | | Less than 12 months | | | 12 months or more | | | | |
| Description of Securities (Millions) | Estimated Fair Value | Gross Unrealized Losses | | Estimated Fair Value | Gross Unrealized Losses | Estimated Fair Value | | Gross Unrealized Losses | Estimated Fair Value | Gross Unrealized Losses | | | |
| State and municipal obligations | $18 | | $(1) | | $— | | $— | | $— | | $— | $82 | $(1) |
| U.S. Government treasury obligations | — | | — | | 324 | | (1) | | 224 | | (2) | 791 | (15) |
| Total | $18 | | $(1) | | $324 | | $(1) | | $224 | | $(2) | $873 | $(16) |
Table 61 after “The following table summarizes the gross unrealized losses due to temporary impairments by ratio of fair value to amortized cost as of Decem”
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| Less than 12 months | | | | 12 months or more | | | Total | | | | | |
| Ratio of Fair Value toAmortized Cost (Dollars in millions) | Number of Securities | Estimated Fair Value | Gross Unrealized Losses | | Number of Securities | Estimated Fair Value | Gross Unrealized Losses | Number of Securities | | Estimated Fair Value | Gross Unrealized Losses | | |
| 2019: | | | | | | | | | | | | | |
| 90%–100% | 2 | $18 | | $(1) | | 3 | $324 | | $(1) | | 5 | $342 | $(2) |
| Total as of December 31, 2019 | 2 | $18 | | $(1) | | 3 | $324 | | $(1) | | 5 | $342 | $(2) |
| 2018: | | | | | | | | | | | | | |
| 90%–100% | 2 | $224 | | $(2) | | 29 | $873 | | $(16) | | 31 | $1,097 | $(18) |
| Total as of December 31, 2018 | 2 | $224 | | $(2) | | 29 | $873 | | $(16) | | 31 | $1,097 | $(18) |
Table 62 after “Weighted average yields and contractual maturities for investment securities with stated maturities as of December 31, 2019 were as follows:”
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| (Millions) | Due within 1 year | Due after 1 year but within 5 years | | Due after 5 years but within 10 years | Due after 10 years | Total | | |
| State and municipal obligations(a) | $6 | | $39 | | $30 | | $168 | $243 |
| U.S. Government agency obligations(a) | — | | — | | — | | 9 | 9 |
| U.S. Government treasury obligations | 6,019 | | 1,270 | | 140 | | — | 7,429 |
| Corporate debt securities | 5 | | 22 | | — | | — | 27 |
| Mortgage-backed securities(a) | — | | — | | — | | 41 | 41 |
| Foreign government bonds and obligations | 577 | | 1 | | 1 | | — | 579 |
| Total Estimated Fair Value | $6,607 | | $1,332 | | $171 | | $218 | $8,328 |
First 8 of 10 rows. The CSV has all of them.
Table 63 after “The following table provides information on the restricted cash held by the Trusts as of December 31, 2019 and 2018, included in Other asset”
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| (Millions) | 2019 | 2018 | |
| Lending Trust | $85 | | $67 |
| Charge Trust | — | | 3 |
| Total | $85 | | $70 |
Table 64 after “The following is a summary of Other assets as of December 31:”
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| (Millions) | 2019 | 2018 | |
| Goodwill | $3,315 | | $3,072 |
| Other intangible assets, at amortized cost | 267 | | 275 |
| Other(a) | 11,149 | | 10,031 |
| Total | $14,731 | | $13,378 |
Table 65 after “The changes in the carrying amount of goodwill reported in our reportable operating segments were as follows:”
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| (Millions) | GCSG | GCS | | GMNS | Total | |
| Balance as of December 31, 2017 | $637 | | $1,724 | | $648 | $3,009 |
| Acquisitions | 90 | | — | | — | 90 |
| Dispositions | — | | — | | — | — |
| Other(a) | (20) | | (6) | | (1) | (27) |
| Balance as of December 31, 2018 | $707 | | $1,718 | | $647 | $3,072 |
| Acquisitions | 189 | | 66 | | — | 255 |
| Dispositions | — | | — | | — | — |
First 8 of 10 rows. The CSV has all of them.
Table 66 after “As of December 31, customer deposits were categorized as interest-bearing or non-interest-bearing as follows:”
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| (Millions) | 2019 | 2018 | |
| U.S.: | | | |
| Interest-bearing | $72,445 | | $69,144 |
| Non-interest-bearing (includes Card Member credit balances of: 2019, $389 million; 2018, $376 million) | 415 | | 412 |
| Non-U.S.: | | | |
| Interest-bearing | 23 | | 28 |
| Non-interest-bearing (includes Card Member credit balances of: 2019, $401 million; 2018, $367 million) | 404 | | 376 |
| Total customer deposits | $73,287 | | $69,960 |
Table 67 after “Customer deposits by deposit type as of December 31 were as follows:”
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| (Millions) | 2019 | 2018 | |
| U.S. retail deposits: | | | |
| Savings accounts ― Direct | $46,394 | | $39,491 |
| Certificates of deposit:(a) | | | |
| Direct | 1,854 | | 817 |
| Third-party (brokered) | 8,076 | | 12,667 |
| Sweep accounts ―Third-party (brokered) | 16,121 | | 16,169 |
| Other deposits: | | | |
First 8 of 12 rows. The CSV has all of them.
Table 68 after “The scheduled maturities of certificates of deposit as of December 31, 2019 were as follows:”
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| (Millions) | U.S. | Non-U.S. | | Total | |
| 2020 | $4,618 | | $14 | | $4,632 |
| 2021 | 2,302 | | — | | 2,302 |
| 2022 | 2,385 | | — | | 2,385 |
| 2023 | 374 | | — | | 374 |
| 2024 | 251 | | — | | 251 |
| After 5 years | — | | — | | — |
| Total | $9,930 | | $14 | | $9,944 |
Table 69 after “As of December 31, certificates of deposit in denominations of $250,000 or more, in the aggregate, were as follows:”
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| (Millions) | 2019 | 2018 | |
| U.S. | $622 | | $276 |
| Non-U.S. | 4 | | 9 |
| Total | $626 | | $285 |
Table 70 after “Our short-term borrowings outstanding, defined as borrowings with original contractual maturity dates of less than one year, as of December ”
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| 2019 | | | 2018 | | |
| (Millions, except percentages) | Outstanding Balance | Year-End Stated Interest Rate on Debt(a) | | Outstanding Balance | Year-End Stated Interest Rate on Debt(a) | |
| Commercial paper(b) | $3,001 | | 1.94% | | $752 | 2.71% |
| Other short-term borrowings(c) | 3,441 | | 1.28 | | 2,348 | 1.94 |
| Total | $6,442 | | 1.59% | | $3,100 | 2.13% |
Table 71 after “Our long-term debt outstanding, defined as debt with original contractual maturity dates of one year or greater, as of December 31 was as fo”
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| 2019 | | | | | 2018 | | | | | | | |
| (Millions, except percentages) | Original Contractual Maturity Dates | Outstanding Balance(a) | Year-End Interest Rate on Debt(b) | | Year-End Interest Rate with Swaps(b)(c) | Outstanding Balance(a) | | Year-End Interest Rate on Debt(b) | | Year-End Interest Rate with Swaps(b)(c) | | | |
| American Express Company (Parent Company only) | | | | | | | | | | | | | |
| Fixed Rate Senior Notes | 2020 - 2042 | $19,326 | | 3.17% | | 2.86% | | | $14,043 | | | 3.48% | 3.64% |
| Floating Rate Senior Notes | 2020 - 2023 | 4,500 | | 3.16 | | — | | | 3,600 | | | 3.17 | — |
| Fixed Rate Subordinated Notes | 2024 | 598 | | 3.63 | | 2.99 | | | 598 | | | 3.63 | 3.66 |
| American Express Credit Corporation | | | | | | | | | | | | | |
| Fixed Rate Senior Notes | 2020 - 2027 | 11,839 | | 2.40 | | 2.56 | | | 16,677 | | | 2.28 | 3.06 |
First 8 of 21 rows. The CSV has all of them.
Table 72 after “Aggregate annual maturities on long-term debt obligations (based on contractual maturity or anticipated redemption dates) as of December 31,”
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| (Millions) | 2020 | 2021 | | 2022 | 2023 | 2024 | | Thereafter | Total | | |
| American Express Company (Parent Company only) | $2,000 | | $5,000 | | $5,675 | | $4,350 | | $5,000 | $2,872 | $24,897 |
| American Express Credit Corporation | 6,600 | | 2,864 | | 2,050 | | — | | — | 2,000 | 13,514 |
| American Express Lending Trust | 6,924 | | 3,709 | | 6,381 | | 2,685 | | — | — | 19,699 |
| Other | 91 | | 137 | | 82 | | — | | 15 | 11 | 336 |
| $15,615 | | $11,710 | | $14,188 | | $7,035 | | $5,015 | $4,883 | $58,446 |
| Unamortized Underwriting Fees | | | | | | | | | (112) | | |
| Unamortized Discount and Premium | | | | | | | | | (716) | | |
First 8 of 10 rows. The CSV has all of them.
Table 73 after “The following is a summary of Other liabilities as of December 31:”
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| (Millions) | 2019 | 2018 | |
| Membership Rewards liability | $8,892 | | $8,414 |
| Employee-related liabilities(a) | 2,429 | | 2,164 |
| Card Member rebate and reward accruals(b) | 1,790 | | 1,596 |
| Income tax liability(c) | 1,122 | | 1,079 |
| Other(d) | 10,715 | | 9,321 |
| Total | $24,948 | | $22,574 |
Table 74 after “The carrying amount of deferred card and other fees, net of deferred direct acquisition costs and reserves for membership cancellations as o”
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| (Millions) | 2019 | 2018 | |
| Deferred card and other fees(a) | $2,532 | | $2,208 |
| Deferred direct acquisition costs | (270) | | (282) |
| Reserves for membership cancellations | (200) | | (167) |
| Deferred card and other fees, net | $2,062 | | $1,759 |
Table 75 after “A summary of stock option and RSU activity as of December 31, 2019, and corresponding changes during the year, are as follows:”
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| Stock Options | | | Service-Based RSUs | | Service and Performance-Based RSUs | | | | |
| (Shares in thousands) | Shares | Weighted-Average Exercise Price | | Shares | Weighted- Average Grant Price | Shares | | Weighted- Average Grant Price | | |
| Outstanding as of December 31, 2018 | 5,484 | | $64.73 | | 2,544 | | $80.15 | | 4,022 | $74.22 |
| Granted | 408 | | 101.43 | | 1,041 | | 103.93 | | 1,358 | 90.34 |
| Exercised/vested | (1,626) | | 51.92 | | (1,001) | | 76.07 | | (1,819) | 58.28 |
| Forfeited | (94) | | 92.19 | | (172) | | 89.79 | | (169) | 93.74 |
| Expired | — | | — | | — | | — | | — | — |
| Outstanding as of December 31, 2019 | 4,172 | | 72.70 | | 2,412 | | $91.42 | | 3,392 | $88.25 |
First 8 of 10 rows. The CSV has all of them.
Table 76 after “The weighted-average remaining contractual life and the aggregate intrinsic value (the amount by which the fair value of our stock price exc”
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| Outstanding | Exercisable | | Vested and Expected to Vest | |
| Weighted-average remaining contractual life (in years) | 5.3 | 4.0 | | 5.3 | |
| Aggregate intrinsic value (millions) | $216 | | $149 | | $216 |
Table 77 after “The fair value of each option is estimated on the date of grant using a Black-Scholes-Merton option-pricing model. The following weighted-av”
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| 2019 | 2018 | | 2017 | |
| Dividend yield | 1.5% | | 1.4% | | 1.8% |
| Expected volatility(a) | 24% | | 22% | | 24% |
| Risk-free interest rate | 2.6% | | 2.7% | | 2.3% |
| Expected life of stock option (in years)(b) | 7.1 | 7.1 | | 6.9 | |
| Weighted-average fair value per option | $23.38 | | $23.17 | | $18.18 |
Table 78 after “Therefore, the fair values of these options were estimated at the grant date using a Monte Carlo valuation model with the following assumpti”
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| October 31, 2017 |
| Dividend yield | 1.58% |
| Expected volatility(a) | 21.41% |
| Risk-free interest rate | 2.26% |
| Expected life of stock option (in years) | 7 |
| Fair value per option | $19.18 |
Table 79 after “The fair value of RSUs that do not include the r-TSR modifier, including those that contain only service conditions, is measured using our s”
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| 2019 |
| Expected volatility(a) | 20% |
| Risk-free interest rate | 2.5% |
| Remaining performance period (in years) | 2.9 |
Table 80 after “The following represents the maturities of our outstanding lease commitments as of December 31, 2019:”
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| (Millions) | |
| 2020 | $134 |
| 2021 | 114 |
| 2022 | 100 |
| 2023 | 89 |
| 2024 | 77 |
| Thereafter | 842 |
| Total Outstanding Fixed Lease Payments | $1,356 |
First 8 of 10 rows. The CSV has all of them.
Table 81 after “The following table summarizes the total fair value, excluding interest accruals, of derivative assets and liabilities as of December 31:”
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| Other Assets Fair Value | | | Other Liabilities Fair Value | | | | |
| (Millions) | 2019 | 2018 | | 2019 | 2018 | | | |
| Derivatives designated as hedging instruments: | | | | | | | | |
| Fair value hedges - Interest rate contracts(a) | $185 | | $34 | | $— | | $74 | |
| Net investment hedges - Foreign exchange contracts | 24 | | 222 | | 186 | | 61 | |
| Total derivatives designated as hedging instruments | 209 | | 256 | | 186 | | 135 | |
| Derivatives not designated as hedging instruments: | | | | | | | | |
| Foreign exchange contracts, including certain embedded derivatives | 134 | | 258 | | 254 | | 79 | |
First 8 of 12 rows. The CSV has all of them.
Table 82 after “The following table presents the gains and losses associated with the fair value hedges of our fixed-rate long-term debt for the years ended”
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| Gains (losses) | | | | |
| (Millions) | 2019 | 2018 | | 2017 | |
| Interest expense (a) | Interest expense (a) | | Other, net expenses | |
| Fixed-rate long-term debt | $(458) | | $59 | | $206 |
| Derivatives designated as hedging instruments | 462 | | (43) | | (246) |
| Total | $4 | | $16 | | $(40) |
Table 83 after “The following table summarizes our financial assets and financial liabilities measured at fair value on a recurring basis, categorized by GA”
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| 2019 | | | | | 2018 | | | | | | | |
| (Millions) | Total | Level 1 | | Level 2 | Level 3 | Total | | Level 1 | Level 2 | Level 3 | | | |
| Assets: | | | | | | | | | | | | | |
| Investment securities:(a) | | | | | | | | | | | | | |
| Equity securities | $78 | | $77 | | $1 | | $— | | $48 | | $1 | $47 | $— |
| Debt securities | 8,328 | | — | | 8,328 | | — | | 4,599 | | — | 4,599 | — |
| Derivatives, gross(a) | 343 | | — | | 343 | | — | | 514 | | — | 514 | — |
| Total Assets | 8,749 | | 77 | | 8,672 | | — | | 5,161 | | 1 | 5,160 | — |
First 8 of 11 rows. The CSV has all of them.
Table 84 after “The following table summarizes the estimated fair values of our financial assets and financial liabilities that are measured at amortized co”
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| 2019 (Billions) | Carrying Value | Corresponding Fair Value Amount | | | | | | |
| | Total | | Level 1 | Level 2 | Level 3 | | |
| Financial Assets: | | | | | | | | |
| Financial assets for which carrying values equal or approximate fair value | | | | | | | | |
| Cash and cash equivalents(a) | $24 | | $24 | | $23 | | $1 | $— |
| Other financial assets(b) | 60 | | 60 | | — | | 60 | — |
| Financial assets carried at other than fair value | | | | | | | | |
| Loans, net(c) | 90 | | 91 | | — | | — | 91 |
First 8 of 13 rows. The CSV has all of them.
Table 85 after “The following table summarizes the estimated fair values of our financial assets and financial liabilities that are measured at amortized co”
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| 2018 (Billions) | Carrying Value | Corresponding Fair Value Amount | | | | | | |
| | Total | | Level 1 | Level 2 | Level 3 | | |
| Financial Assets: | | | | | | | | |
| Financial assets for which carrying values equal or approximate fair value | | | | | | | | |
| Cash and cash equivalents(a) | $27 | | $27 | | $26 | | $1 | $— |
| Other financial assets(b) | 58 | | 58 | | — | | 58 | — |
| Financial assets carried at other than fair value | | | | | | | | |
| Loans, net(c) | 83 | | 84 | | — | | — | 84 |
First 8 of 13 rows. The CSV has all of them.
Table 86 after “The following table shows authorized shares and provides a reconciliation of common shares issued and outstanding for the years ended Decemb”
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| (Millions, except where indicated) | 2019 | 2018 | | 2017 | |
| Common shares authorized (billions)(a) | 3.6 | | 3.6 | | 3.6 |
| Shares issued and outstanding at beginning of year | 847 | | 859 | | 904 |
| Repurchases of common shares | (40) | | (15) | | (50) |
| Other, primarily stock option exercises and restricted stock awards granted | 3 | | 3 | | 5 |
| Shares issued and outstanding as of December 31 | 810 | | 847 | | 859 |
Table 87 after “We have the following perpetual Fixed Rate/Floating Rate Noncumulative Preferred Share series issued and outstanding as of December 31, 2019”
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| Series B | Series C | |
| Issuance date | November 10, 2014 | March 2, 2015 | |
| Securities issued | 750 Preferred Shares; represented by 750,000 depositary shares | 850 Preferred Shares; represented by 850,000 depositary shares | |
| Aggregate liquidation preference | $750 million | | $850 million |
| Fixed dividend rate per annum | 5.20% | | 4.90% |
| Semi-annual fixed dividend payment dates | Beginning May 15, 2015 | Beginning September 15, 2015 | |
| Floating dividend rate per annum | 3 month LIBOR+ 3.428% | 3 month LIBOR+ 3.285% | |
| Quarterly floating dividend payment dates | Beginning February 15, 2020 | Beginning June 15, 2020 | |
First 8 of 9 rows. The CSV has all of them.
Table 88 after “AOCI is a balance sheet item in Shareholders’ equity on the Consolidated Balance Sheets. It is comprised of items that have not been recogni”
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| (Millions), net of tax | Net Unrealized Gains (Losses) on Investment Securities | Foreign Currency Translation Adjustment Gains (Losses) | | Net Unrealized Pension and Other Postretirement Benefit Gains (Losses) | Accumulated Other Comprehensive (Loss) Income | |
| Balance as of December 31, 2016 | $7 | | $(2,262) | | $(529) | $(2,784) |
| Net unrealized losses | (7) | | — | | — | (7) |
| Decrease due to amounts reclassified into earnings | — | | (7) | | — | (7) |
| Net translation gains on investments in foreign operations (a) | — | | 678 | | — | 678 |
| Net losses related to hedges of investments in foreign operations | — | | (370) | | — | (370) |
| Pension and other postretirement benefits | — | | — | | 62 | 62 |
| Net change in accumulated other comprehensive (loss) income | (7) | | 301 | | 62 | 356 |
First 8 of 22 rows. The CSV has all of them.
Table 89 after “The following table shows the tax impact for the years ended December 31 for the changes in each component of AOCI presented above:”
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| Tax expense (benefit) | | | | |
| (Millions) | 2019 | 2018 | | 2017 | |
| Net unrealized investment securities | $12 | | $(2) | | $(4) |
| Net translation on investments in foreign operations(a) | 24 | | (44) | | (172) |
| Net hedges of investments in foreign operations | (43) | | 107 | | (215) |
| Pension and other postretirement benefits | (38) | | 9 | | 7 |
| Total tax impact | $(45) | | $70 | | $(384) |
Table 90 after “The following table presents the effects of reclassifications out of AOCI and into the Consolidated Statements of Income for the years ended”
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| | Gains (losses) recognized in earnings | | | |
| Description (Millions) | Income Statement Line Item | 2019 | 2018 | 2017 | |
| Foreign currency translation adjustments | | | | | |
| Reclassification of translation adjustments and related hedges | Other expenses | $— | | $1 | $(7) |
| Related income tax | Income tax provision | — | | (1) | 14 |
| Reclassification of foreign currency translation adjustments | | $— | | $— | $7 |
Table 91 after “The following is a detail of Other fees and commissions for the years ended December 31:”
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| (Millions) | 2019 | 2018 | | 2017 | |
| Fees charged to Card Members: | | | | | |
| Delinquency fees | $1,028 | | $959 | | $888 |
| Foreign currency conversion fee revenue | 982 | | 921 | | 851 |
| Other customer fees: | | | | | |
| Loyalty coalition-related fees | 456 | | 461 | | 452 |
| Travel commissions and fees | 424 | | 395 | | 364 |
| Service fees and other(a) | 407 | | 417 | | 435 |
First 8 of 9 rows. The CSV has all of them.
Table 92 after “The following is a detail of Other expenses for the years ended December 31:”
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| (Millions) | 2019 | 2018 | | 2017 | |
| Professional services | $2,091 | | $2,125 | | $2,040 |
| Occupancy and equipment | 2,168 | | 2,033 | | 2,018 |
| Other(a) | 1,609 | | 1,513 | | 1,576 |
| Total Other expenses | $5,868 | | $5,671 | | $5,634 |
Table 93 after “The components of income tax expense for the years ended December 31 included in the Consolidated Statements of Income were as follows:”
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| (Millions) | 2019 | 2018 | | 2017 | |
| Current income tax expense: | | | | | |
| U.S. federal | $1,108 | | $70 | | $3,408 |
| U.S. state and local | 276 | | 150 | | 259 |
| Non-U.S. | 437 | | 681 | | 387 |
| Total current income tax expense | 1,821 | | 901 | | 4,054 |
| Deferred income tax (benefit) expense: | | | | | |
| U.S. federal | (58) | | 276 | | 544 |
First 8 of 12 rows. The CSV has all of them.
Table 94 after “percent as of December 31, 2017, to our actual income tax rate was as follows:”
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| 2019 | 2018 | | 2017 | |
| U.S. statutory federal income tax rate | 21.0% | | 21.0% | | 35.0% |
| (Decrease) increase in taxes resulting from: | | | | | |
| Tax-exempt income | (1.9) | | (1.7) | | (1.7) |
| State and local income taxes, net of federal benefit | 2.8 | | 2.8 | | 2.3 |
| Non-U.S. subsidiaries' earnings(a) | (0.7) | | (0.5) | | (5.7) |
| Tax settlements(b) | (0.3) | | (1.9) | | (0.7) |
| U.S. Tax Act(c) | — | | (1.1) | | 34.8 |
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Table 95 after “The significant components of deferred tax assets and liabilities as of December 31 are reflected in the following table:”
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| (Millions) | 2019 | 2018 | |
| Deferred tax assets: | | | |
| Reserves not yet deducted for tax purposes | $2,633 | | $2,612 |
| Employee compensation and benefits | 365 | | 360 |
| Other | 536 | | 431 |
| Gross deferred tax assets | 3,534 | | 3,403 |
| Valuation allowance | (66) | | (61) |
| Deferred tax assets after valuation allowance | 3,468 | | 3,342 |
First 8 of 16 rows. The CSV has all of them.
Table 96 after “The following table presents changes in unrecognized tax benefits:”
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| (Millions) | 2019 | 2018 | | 2017 | |
| Balance, January 1 | $701 | | $821 | | $974 |
| Increases: | | | | | |
| Current year tax positions | 66 | | 152 | | 200 |
| Tax positions related to prior years | 78 | | 47 | | 39 |
| Effects of foreign currency translations | 10 | | — | | — |
| Decreases: | | | | | |
| Tax positions related to prior years(a) | (14) | | (74) | | (289) |
First 8 of 12 rows. The CSV has all of them.
Table 97 after “The computations of basic and diluted EPS for the years ended December 31 were as follows:”
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| (Millions, except per share amounts) | 2019 | 2018 | | 2017 | |
| Numerator: | | | | | |
| Basic and diluted: | | | | | |
| Net income | $6,759 | | $6,921 | | $2,748 |
| Preferred dividends | (81) | | (80) | | (81) |
| Net income available to common shareholders | 6,678 | | 6,841 | | 2,667 |
| Earnings allocated to participating share awards(a) | (47) | | (54) | | (21) |
| Net income attributable to common shareholders | $6,631 | | $6,787 | | $2,646 |
First 8 of 14 rows. The CSV has all of them.
Table 98 after “The following table presents the regulatory capital ratios:”
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| (Millions, except percentages) | CET 1 capital | Tier 1 capital | | Total capital | CET 1 Capital ratio | Tier 1 capital ratio | | Total capital ratio | Tier 1 leverage ratio | Supplementary Leverage Ratio | | | |
| December 31, 2019: (a) | | | | | | | | | | | | | |
| American Express Company | $18,056 | | $19,628 | | $22,213 | | 10.7% | | 11.6% | | 13.2% | 10.2% | 8.8% |
| American Express National Bank | $13,600 | | $13,600 | | $15,688 | | 13.4% | | 13.4% | | 15.4% | 11.1% | 9.3% |
| December 31, 2018:(a) | | | | | | | | | | | | | |
| American Express Company | $17,498 | | $19,070 | | $21,653 | | 11.0% | | 12.0% | | 13.6% | 10.4% | 8.9% |
| American Express National Bank | $11,564 | | $11,564 | | $13,574 | | 12.1% | | 12.1% | | 14.2% | 9.9% | 8.2% |
| Well-capitalized ratios(b) | | | | | 6.5% | | 8.0% | | 10.0% | | 5.0% | N/A | |
First 8 of 10 rows. The CSV has all of them.
Table 99 after “The following table details our maximum credit exposure of the on-balance sheet assets by category as of December 31:”
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| (Billions) | 2019 | 2018 | |
| Individuals(a) | $131 | | $123 |
| Financial Services(b) | 26 | | 30 |
| Institutions(c) | 20 | | 20 |
| U.S. Government and agencies(d) | 8 | | 4 |
| Total on-balance sheet | $185 | | $177 |
Table 100 after “The following table details our Card Member loans and receivables exposure (including unused lines-of-credit available to Card Members as pa”
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| (Billions) | 2019 | 2018 | |
| On-balance sheet: | | | |
| U.S. | $115 | | $111 |
| Non-U.S. | 30 | | 27 |
| On-balance sheet | 145 | | 138 |
| Unused lines-of-credit:(a) | | | |
| U.S. | 245 | | 249 |
| Non-U.S. | 61 | | 53 |
First 8 of 9 rows. The CSV has all of them.
Table 101 after “The following table presents certain selected financial information for our reportable operating segments and Corporate & Other as of or for”
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| (Millions, except where indicated) | GCSG | GCS | | GMNS | Corporate & Other(a) | Consolidated | | |
| 2019 | | | | | | | | |
| Non-interest revenues | $15,972 | | $12,623 | | $6,252 | | $89 | $34,936 |
| Revenue from contracts with customers(b) | 11,041 | | 10,891 | | 6,215 | | 12 | 28,159 |
| Interest income | 9,413 | | 1,900 | | 28 | | 743 | 12,084 |
| Interest expense | 1,806 | | 995 | | (365) | | 1,028 | 3,464 |
| Total revenues net of interest expense | 23,579 | | 13,528 | | 6,645 | | (196) | 43,556 |
| Total provisions | 2,636 | | 917 | | 20 | | — | 3,573 |
First 8 of 34 rows. The CSV has all of them.
Table 102 after “The following table presents our total revenues net of interest expense and pretax income (loss) from continuing operations in different geo”
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| (Millions) | United States | EMEA(a) | | JAPA(a) | LACC(a) | Other Unallocated(b) | | Consolidated | | |
| 2019 | | | | | | | | | | |
| Total revenues net of interest expense | $32,557 | | $4,465 | | $3,915 | | $2,816 | | $(197) | $43,556 |
| Pretax income (loss) from continuing operations | 7,262 | | 1,243 | | 833 | | 903 | | (1,812) | 8,429 |
| 2018 | | | | | | | | | | |
| Total revenues net of interest expense | $29,864 | | $4,419 | | $3,656 | | $2,584 | | $(185) | $40,338 |
| Pretax income (loss) from continuing operations | 6,696 | | 1,212 | | 764 | | 782 | | (1,332) | 8,122 |
| 2017 | | | | | | | | | | |
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Table 103 after “PARENT COMPANY – CONDENSED STATEMENTS OF INCOME”
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| Years Ended December 31 (Millions) | 2019 | 2018 | | 2017 | |
| Revenues | | | | | |
| Non-interest revenues | | | | | |
| Other | $598 | | $426 | | $358 |
| Total non-interest revenues | 598 | | 426 | | 358 |
| Interest income | 692 | | 422 | | 258 |
| Interest expense | 902 | | 615 | | 493 |
| Total revenues net of interest expense | 388 | | 233 | | 123 |
First 8 of 17 rows. The CSV has all of them.
Table 104 after “PARENT COMPANY – CONDENSED BALANCE SHEETS”
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| As of December 31 (Millions) | 2019 | 2018 | |
| Assets | | | |
| Cash and cash equivalents | $4,430 | | $3,287 |
| Equity in net assets of subsidiaries and affiliates | 23,165 | | 22,298 |
| Loans to subsidiaries and affiliates | 22,350 | | 17,945 |
| Due from subsidiaries and affiliates | 1,168 | | 1,783 |
| Other assets | 223 | | 297 |
| Total assets | 51,336 | | 45,610 |
First 8 of 18 rows. The CSV has all of them.
Table 105 after “PARENT COMPANY – CONDENSED STATEMENTS OF CASH FLOWS”
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| Years Ended December 31 (Millions) | 2019 | 2018 | | 2017 | |
| Cash Flows from Operating Activities | | | | | |
| Net income | $6,759 | | $6,921 | | $2,748 |
| Adjustments to reconcile net income to cash provided by operating activities: | | | | | |
| Equity in net income of subsidiaries and affiliates | (7,271) | | (7,452) | | (3,186) |
| Dividends received from subsidiaries and affiliates | 6,370 | | 3,222 | | 5,755 |
| Other operating activities, primarily with subsidiaries and affiliates | 1,315 | | (257) | | 659 |
| Net cash provided by operating activities | 7,173 | | 2,434 | | 5,976 |
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| (Millions, except per share amounts) | 2019 | | | | | 2018 | | | | | | | |
| Quarters Ended | 12/31 | 9/30 | | 6/30 | 3/31 | 12/31 | | 9/30 | 6/30 | 3/31 | | | |
| Total revenues net of interest expense | $11,365 | | $10,989 | | $10,838 | | $10,364 | | $10,474 | | $10,144 | $10,002 | $9,718 |
| Pretax income | 1,986 | | 2,266 | | 2,219 | | 1,958 | | 1,831 | | 2,118 | 2,091 | 2,082 |
| Net income | 1,693 | | 1,755 | | 1,761 | | 1,550 | | 2,010 | | 1,654 | 1,623 | 1,634 |
| Earnings Per Common Share — Basic: | | | | | | | | | | | | | |
| Net income attributable to common shareholders(a) | 2.04 | | 2.09 | | 2.07 | | 1.81 | | 2.33 | | 1.89 | 1.85 | 1.86 |
| Earnings Per Common Share — Diluted: | | | | | | | | | | | | | |
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Table 107 after “The following exhibits are filed as part of this report. The exhibit numbers preceded by an asterisk (*) indicate exhibits electronically fi”
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| 3.1 | Company's Amended and Restated Certificate of Incorporation as amended through February 27, 2015 (incorporated by reference to Exhibit 3.1 of the Company's Quarterly Report on Form 10-Q (Commission File No. 1-7657) for the quarter ended March 31, 2015). |
| 3.2 | Company's By-Laws, as amended through September 26, 2016 (incorporated by reference to Exhibit 3.1 of the Company's Current Report on Form 8-K (Commission File No. 1-7657), dated September 26, 2016). |
| 4.1 | The instruments defining the rights of holders of long-term debt securities of the Company and its subsidiaries are omitted pursuant to Section (b)(4)(iii)(A) of Item 601 of Regulation S-K. The Company hereby agrees to furnish copies of these instruments to the SEC upon request. |
| *4.2 | Description of American Express Company’s securities registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended. |
| 10.1 | American Express Company Deferred Compensation Plan for Directors and Advisors, as amended and restated effective April 1, 2018 (incorporated by reference to Exhibit 10.3 of the Company's Quarterly Report on Form 10-Q (Commission File No. 1-7657) for the quarter ended March 31, 2018). |
| 10.2 | American Express Company 2007 Pay-for-Performance Deferral Program Document (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K (Commission File No. 1-7657), dated November 20, 2006 (filed November 22, 2006)). |
| 10.3 | Description of amendments to 1994–2006 Pay-for-Performance Deferral Programs (incorporated by reference to Exhibit 10.13 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 2006). |
| 10.4 | American Express Company 2006 Pay-for-Performance Deferral Program Guide (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K (Commission File No. 1-7657), dated November 21, 2005 (filed November 23, 2005)). |
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| 10.7 | Amendment to the Pre-2008 Nonqualified Deferred Compensation Plans of American Express Company (incorporated by reference to Exhibit 10.19 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 2008). |
| 10.8 | American Express Company Retirement Plan for Non-Employee Directors, as amended (incorporated by reference to Exhibit 10.12 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 1988). |
| 10.9 | Certificate of Amendment of the American Express Company Retirement Plan for Non-Employee Directors dated March 21, 1996 (incorporated by reference to Exhibit 10.11 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 1995). |
| 10.10 | American Express Key Executive Life Insurance Plan, as amended (incorporated by reference to Exhibit 10.12 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the fiscal year ended December 31, 1991). |
| 10.11 | Amendment to American Express Company Key Executive Life Insurance Plan (incorporated by reference to Exhibit 10.3 of the Company's Quarterly Report on Form 10-Q (Commission File No. 1-7657) for the quarter ended September 30, 1994). |
| 10.12 | Amendment to American Express Company Key Executive Life Insurance Plan, effective as of January 22, 2007 (incorporated by reference to Exhibit 10.22 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 2006). |
| 10.13 | Amendment to American Express Company Key Executive Life Insurance Plan, effective as of January 1, 2011 (incorporated by reference to Exhibit 10.24 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 2010). |
| 10.14 | American Express Key Employee Charitable Award Program for Education (incorporated by reference to Exhibit 10.13 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 1990). |
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| 10.21 | | Third Amendment to the American Express Retirement Restoration Plan (f/k/a Supplemental Retirement Plan) (dated March 29, 2012) (incorporated by reference to Exhibit 10.1 of the Company's Quarterly Report on Form 10-Q (Commission File No. 1-7657) for the quarter ended March 31, 2012). |
| 10.22 | | Fourth Amendment to the American Express Retirement Restoration Plan (f/k/a Supplemental Retirement Plan) (dated October 24, 2012) (incorporated by reference to Exhibit 10.31 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 2012). |
| 10.23 | | Fifth Amendment to the American Express Retirement Restoration Plan (f/k/a Supplemental Retirement Plan) (dated May 1, 2013) (incorporated by reference to Exhibit 10.1 of the Company's Quarterly Report on Form 10-Q (Commission File No. 1-7657) for the quarter ended March 31, 2013). |
| 10.24 | | Sixth Amendment to the American Express Retirement Restoration Plan (f/k/a Supplemental Retirement Plan) (dated August 16, 2013) (incorporated by reference to Exhibit 10.1 of the Company's Quarterly Report on Form 10-Q (Commission File No. 1-7657) for the quarter ended September 30, 2013). |
| 10.25 | | Seventh Amendment to the American Express Retirement Restoration Plan (f/k/a Supplemental Retirement Plan) (dated September 26, 2013) (incorporated by reference to Exhibit 10.2 of the Company's Quarterly Report on Form 10-Q (Commission File No. 1-7657) for the quarter ended September 30, 2013). |
| 10.26 | | Eighth Amendment to the American Express Retirement Restoration Plan (f/k/a Supplemental Retirement Plan) (dated December 1, 2013) (incorporated by reference to Exhibit 10.36 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 2013). |
| 10.27 | | Ninth Amendment to the American Express Retirement Restoration Plan (f/k/a Supplemental Retirement Plan) (dated December 14, 2016) (incorporated by reference to Exhibit 10.30 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 2016). |
| 10.28 | Tenth Amendment to the American Express Retirement Restoration Plan (f/k/a Supplemental Retirement Plan) (dated December 17, 2018) (incorporated by reference to Exhibit 10.28 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 2018). | |
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| 10.35 | | Form of restricted stock unit award agreement for executive officers under the American Express Company 2007 Incentive Compensation Plan (for awards made after January 26, 2016) (incorporated by reference to Exhibit 10.44 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 2015). |
| 10.36 | | American Express Company 2016 Incentive Compensation Plan (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K (Commission File No. 1-7657), dated May 2, 2016). |
| 10.37 | | Form of nonqualified stock option award agreement for executive officers under the American Express Company 2016 Incentive Compensation Plan (for awards made after May 2, 2016) (incorporated by reference to Exhibit 10.41 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 2016). |
| 10.38 | | Form of restricted stock unit award agreement for executive officers under the American Express Company 2016 Incentive Compensation Plan (for awards made after May 2, 2016) (incorporated by reference to Exhibit 10.42 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 2016). |
| 10.39 | | Form of award agreement for executive officers in connection with Performance Grant awards (a/k/a Executive Annual Incentive Awards) under the American Express Company 2016 Incentive Compensation Plan (for awards made after May 2, 2016) (incorporated by reference to Exhibit 10.43 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 2016). |
| 10.40 | | Form of award agreement for executive officers in connection with Portfolio Grant awards under the American Express Company 2016 Incentive Compensation Plan (for awards made after May 2, 2016) (incorporated by reference to Exhibit 10.44 of the Company's Annual Report on Form 10-K (Commission File No. 1-7657) for the year ended December 31, 2016). |
| *10.41 | Amendment to the Form of nonqualified stock option award agreement and Form of restricted stock unit award for executive officers under the American Express Company 2016 Incentive Compensation Plan (for awards made after January 29, 2020). | |
| *10.42 | | Form of notice agreement in connection with Annual Incentive Awards under the American Express Company 2016 Incentive Compensation Plan. |
First 8 of 14 rows. The CSV has all of them.
| *23 | Consent of PricewaterhouseCoopers LLP. |
| *31.1 | Certification of Stephen J. Squeri, Chief Executive Officer, pursuant to Rule 13a-14(a) promulgated under the Securities Exchange Act of 1934, as amended. |
| *31.2 | Certification of Jeffrey C. Campbell, Chief Financial Officer, pursuant to Rule 13a-14(a) promulgated under the Securities Exchange Act of 1934, as amended. |
| *32.1 | Certification of Stephen J. Squeri, Chief Executive Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
| *32.2 | Certification of Jeffrey C. Campbell, Chief Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
| *101.INS | XBRL Instance Document – The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document |
| *101.SCH | XBRL Taxonomy Extension Schema Document |
| *101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document |
First 8 of 12 rows. The CSV has all of them.
Table 112 after “The following tables provide a summary of our consolidated average balances including major categories of interest-earning assets and intere”
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| 2019 | | | | 2018 | | | | | 2017 | | | | | | | | | | |
| Years Ended December 31,(Millions, except percentages) | AverageBalance (a) | Interest Income | | Average Yield | AverageBalance (a) | Interest Income | | Average Yield | | AverageBalance (a) | Interest Income | | Average Yield | | | | | | | |
| Interest-earning assets | | | | | | | | | | | | | | | | | | | | |
| Interest-bearing deposits in other banks (b) | | | | | | | | | | | | | | | | | | | | |
| U.S. | $22,552 | | $527 | | 2.3% | | $25,001 | | | $491 | | 2.0% | | | $24,510 | | | $277 | | 1.1% |
| Non-U.S. | 2,085 | | 48 | | 2.3 | | 1,830 | | | 33 | | 1.8 | | | 1,773 | | | 17 | | 1.0 |
| Federal funds sold and securities purchased under agreements to resell | | | | | | | | | | | | | | | | | | | | |
| U.S. | 19 | | 3 | | 15.8 | | — | | | — | | — | | | — | | | — | | — |
First 8 of 28 rows. The CSV has all of them.
| Years Ended December 31, (Millions, except percentages) | 2019Average Balance (a) | 2018Average Balance (a) | | 2017Average Balance (a) | |
| Non-interest-earning assets | | | | | |
| Cash and due from banks | | | | | |
| U.S. | $2,842 | | $2,793 | | $2,393 |
| Non-U.S. | 732 | | 527 | | 489 |
| Card Member receivables, net | | | | | |
| U.S. | 27,724 | | 26,435 | | 21,262 |
| Non-U.S. | 28,040 | | 27,100 | | 27,621 |
First 8 of 21 rows. The CSV has all of them.
| 2019 | | | | | 2018 | | | | | | 2017 | | | | | | | | |
| Years Ended December 31, (Millions, except percentages) | AverageBalance (a) | Interest Expense | | Average Rate | | AverageBalance (a) | | Interest Expense | | Average Rate | | AverageBalance (a) | | Interest Expense | | Average Rate | | | | |
| Interest-bearing liabilities | | | | | | | | | | | | | | | | | | | | |
| Customer deposits | | | | | | | | | | | | | | | | | | | | |
| U.S. | | | | | | | | | | | | | | | | | | | | |
| Savings | $59,087 | | $1,247 | | | 2.1% | | | $50,499 | | | $919 | | | 1.8% | | $42,134 | | $471 | 1.1% |
| Time | 12,179 | | 298 | | | 2.4 | | | 15,975 | | | 357 | | | 2.2 | | 14,701 | | 301 | 2.0 |
| Demand | 447 | | 9 | | | 2.0 | | | 285 | | | 6 | | | 2.1 | | 215 | | 3 | 1.4 |
First 8 of 41 rows. The CSV has all of them.
Table 115 after “The following table presents the amount of changes in interest income and interest expense due to changes in both average volume and average”
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| 2019 Versus 2018 | | | | 2018 Versus 2017 | | | | | |
| Increase (Decrease) due to change in: | | | | Increase (Decrease) due to change in: | | | | | |
| Years Ended December 31, (Millions) | Average Volume | Average Rate | | Net Change | Average Volume | Average Rate | | Net Change | | |
| Interest-earning assets | | | | | | | | | | |
| Interest-bearing deposits in other banks | | | | | | | | | | |
| U.S. | $(48) | | $84 | | $36 | | $6 | | $208 | $214 |
| Non-U.S. | 5 | | 10 | | 15 | | 1 | | 15 | 16 |
| Federal funds sold and securities purchased under agreements to resell | | | | | | | | | | |
First 8 of 44 rows. The CSV has all of them.
Table 116 after “The following table presents gross loans and Card Member receivables by customer type, segregated between U.S. and non-U.S., based on the do”
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| December 31, (Millions) | 2019 | 2018 | | 2017 | 2016 | 2015 | | |
| Loans (a) (b) | | | | | | | | |
| U.S. loans | | | | | | | | |
| Card Member (c) | $76,027 | | $72,007 | | $64,542 | | $58,242 | $51,446 |
| Other (d) | 4,605 | | 3,666 | | 2,554 | | 1,350 | 1,073 |
| Non-U.S. loans | | | | | | | | |
| Card Member (c) | 11,354 | | 9,847 | | 8,857 | | 7,023 | 7,127 |
| Other (d) | 173 | | 134 | | 133 | | 111 | 201 |
First 8 of 17 rows. The CSV has all of them.
Table 117 after “The following table presents contractual maturities of loans and Card Member receivables by customer type, and segregated between U.S. and n”
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| December 31, (Millions) | 2019 | | | | | | | |
| Within1 year (a) (b) | 1-5years (b) (c) | | After5 years (c) | | Total | | |
| Loans | | | | | | | | |
| U.S. loans | | | | | | | | |
| Card Member | $75,707 | | $320 | | | $— | | $76,027 |
| Other | 1,606 | | 2,810 | | | 189 | | 4,605 |
| Non-U.S. loans | | | | | | | | |
| Card Member | 11,354 | | — | | | — | | 11,354 |
First 8 of 21 rows. The CSV has all of them.
Table 118 after “The following table presents the amounts of non-performing loans and Card Member receivables that are either non-accrual, past due, or restr”
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| December 31, (Millions) | 2019 | 2018 | | 2017 | 2016 | 2015 | | |
| Loans | | | | | | | | |
| Non-accrual loans (a) | | | | | | | | |
| U.S. | $346 | | $286 | | $203 | | $173 | $154 |
| Total non-accrual loans | $346 | | $286 | | $203 | | $173 | $154 |
| Loans contractually 90 days past-due and still accruing interest (b) | | | | | | | | |
| U.S. | $338 | | $321 | | $273 | | $208 | $164 |
| Non-U.S. | $94 | | $69 | | $56 | | $52 | $52 |
First 8 of 17 rows. The CSV has all of them.
Table 119 after “The following table presents the gross interest income for both non-accrual and restructured loans for 2019 that would have been recognized ”
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| 2019 | | | |
| Year Ended December 31, (Millions) | U.S. | Non-U.S. | Total | |
| Gross amount of interest income that would have been recorded in accordance with the original contractual terms (a) | 152 | — | | 152 |
| Interest income actually recognized | 38 | — | | 38 |
| Total interest revenue foregone | 114 | — | | 114 |
Table 120 after “The table separately presents the amounts of cross-border outstandings by type of borrower including Governments and official institutions, ”
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| Years Ended December 31,(Millions) | | Governments and official institutions | Banks and other financial institutions | | NBFIs | Other | Totalcross-borderoutstandings (a) | | Gross foreign- office liabilities | Total exposure (net of liabilities) | Cross-border commitments | | | |
| Australia | 2019 | $173 | | $177 | | $— | | $3,890 | | $4,240 | | $481 | $3,759 | $6,360 |
| 2018 | 2 | | 207 | | — | | 3,633 | | 3,842 | | 366 | 3,476 | 6,948 |
| 2017 | — | | 259 | | — | | 3,594 | | 3,853 | | 504 | 3,349 | 6,635 |
| Canada | 2019 | $427 | | $468 | | $39 | | $2,966 | | $3,900 | | $491 | $3,409 | $10,490 |
| 2018 | 346 | | 676 | | 41 | | 2,706 | | 3,769 | | 465 | 3,304 | 9,970 |
| 2017 | 355 | | 992 | | 40 | | 2,730 | | 4,117 | | 1,032 | 3,085 | 12,174 |
| United Kingdom | 2019 | $113 | | $2,254 | | $6 | | $5,702 | | $8,075 | | $3,575 | $4,500 | $21,830 |
First 8 of 19 rows. The CSV has all of them.
Table 121 after “The following table summarizes the changes to our allowance for Card Member loan losses. The table segregates such changes between U.S. and ”
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| Years Ended December 31, (Millions, except percentages) | 2019 | 2018 | | 2017 | 2016 | 2015 | | | |
| Card Member loans Allowance for loan losses at beginning of year | | | | | | | | | |
| U.S. loans | $1,899 | | $1,507 | | $1,068 | | $882 | $1,036 | |
| Non-U.S. loans | 235 | | 199 | | 155 | | 146 | 165 | |
| Total allowance for losses | 2,134 | | 1,706 | | 1,223 | | 1,028 | 1,201 | |
| Card Member lending provisions (a) | | | | | | | | | |
| U.S. loans | 2,123 | | 2,003 | | 1,655 | | 1,056 | 1,032 | |
| Non-U.S. loans | 339 | | 263 | | 213 | | 179 | 158 | |
First 8 of 30 rows. The CSV has all of them.
Table 122 after “e following table summarizes the changes to our allowance for other loan losses. The table segregates such changes between U.S. and non-U.S.”
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| Years Ended December 31, (Millions, except percentages) | 2019 | 2018 | | 2017 | 2016 | | 2015 | | | | |
| Other loans Allowance for loan losses at beginning of year | | | | | | | | | | | |
| U.S. loans | $122 | | $78 | | $39 | | | $17 | | $8 | |
| Non-U.S. loans | 2 | | 2 | | 3 | | | 3 | | 4 | |
| Total allowance for losses | 124 | | 80 | | 42 | | | 20 | | 12 | |
| Provisions for other loan losses (a) | | | | | | | | | | | |
| U.S. loans | 124 | | 121 | | 71 | | | 56 | | 21 | |
| Non-U.S. loans | 1 | | 1 | | 1 | | | 1 | | 1 | |
First 8 of 23 rows. The CSV has all of them.
Table 123 after “The following table summarizes the changes to our allowance for Card Member receivables losses. The table segregates such changes between U.”
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| Years Ended December 31, (Millions, except percentages) | 2019 | 2018 | | 2017 | 2016 | 2015 | | |
| Card Member receivables Allowance for losses at beginning of year U.S. receivables | | | | | | | | |
| Consumer | $299 | | $277 | | $266 | | $268 | $276 |
| Commercial | 70 | | 73 | | 53 | | 51 | 53 |
| Total U.S. receivables | 369 | | 350 | | 319 | | 319 | 329 |
| Non-U.S. receivables | | | | | | | | |
| Consumer | 135 | | 119 | | 95 | | 93 | 93 |
| Commercial | 69 | | 52 | | 53 | | 50 | 43 |
First 8 of 30 rows. The CSV has all of them.
| Years Ended December 31, (Millions, except percentages) | 2019 | 2018 | | 2017 | 2016 | 2015 | | |
| Card Member receivables Recoveries U.S. receivables | | | | | | | | |
| Consumer | $214 | | $210 | | $233 | | $269 | $271 |
| Commercial | 49 | | 56 | | 45 | | 43 | 45 |
| Total U.S. recoveries | 263 | | 266 | | 278 | | 312 | 316 |
| Non-U.S. receivables | | | | | | | | |
| Consumer | 79 | | 70 | | 63 | | 59 | 57 |
| Commercial | 37 | | 31 | | 25 | | 23 | 28 |
First 8 of 32 rows. The CSV has all of them.
Table 125 after “The following table presents an allocation of the allowance for loans and Card Member receivables and the percentage of allowance for losses”
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| December 31, | 2019 | | | 2018 | | 2017 | | | 2016 | | | 2015 | | | | |
| (Millions, except percentages)Allowance for lossesat end of year applicable to | Amount | Percentage (a) | | Amount | Percentage (a) | Amount | | Percentage (a) | Amount | Percentage (a) | | Amount | Percentage (a) | | | |
| Loans U.S. loans | | | | | | | | | | | | | | | | |
| Card Member | $2,085 | | 82% | | $1,899 | | 84% | | $1,507 | | 85% | | $1,068 | 85% | $882 | 84% |
| Other | 150 | | 6 | | 122 | | 5 | | 78 | | 4 | | 39 | 3 | 17 | 2 |
| Non-U.S. loans | | | | | | | | | | | | | | | | |
| Card Member | 298 | | 12 | | 235 | | 11 | | 199 | | 11 | | 155 | 12 | 146 | 14 |
| Other | 2 | | — | | 2 | | — | | 2 | | — | | 3 | — | 3 | — |
First 8 of 17 rows. The CSV has all of them.
Table 126 after “The following table presents the amount of time certificates of deposit of $100,000 or more issued by us in our U.S. offices, further segreg”
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| By remaining maturity as of December 31, 2019 | | | | | | | |
| (Millions) | 3 months or less | Over 3 months but within 6 months | | Over 6 months but within 12 months | Over 12 months | Total | | |
| U.S. time certificates of deposit ($100,000 or more) | $194 | | $113 | | $288 | | $690 | $1,285 |