AXPAmerican Express

Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).

No specific sentence about this in the 10-K.

Parts or manufacturing that depend on one or a few suppliers.

No specific sentence about this in the 10-K.

Pending cases, settlements and what the company has set aside for them.

“On September 30, 2024, we were named as a defendant in a case filed in the United States District Court for the District of Massachusetts, captioned Pizza Hazel, Inc., et al. v.”

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“Plaintiffs seek, on behalf of themselves and a class of merchants that accept through the OptBlue Program, unspecified damages and an injunction prohibiting us from enforcing our anti-steering and non-discrimination provisions and prohibiting us from enforcing our arbitration provision to the extent the arbitration provision prevents antitrust challenges to our anti-steering and non-discrimination provisions.”

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“On March 21, 2024, we were named as a defendant in a case filed in the United States District Court for the District of Rhode Island, captioned 5-Star General Store aka Bento LLC, et al. v.”

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New “After trial in August 2025, the jury returned a verdict finding in favor of us on all claims except an Illinois consumer law claim for the class of non-rewards credit card holders in Illinois for which the jury awarded $12.5 million in damages.”

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“For those disclosed legal proceedings where a loss is reasonably possible in future periods, whether in excess of a recorded accrual for legal or tax contingencies, or where there is no such accrual, and for which we are able to estimate a range of possible loss, the current estimated range is zero to $250 million in excess of any accruals related to those matters.”

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Promises to pay someone else's debts or losses if they cannot.

New “Prior to the fourth quarter of 2025, the co-tenant’s share of the potential restoration amount was included in our maximum potential undiscounted future payments resulting from guarantees and indemnifications.”

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New “The maximum potential undiscounted future payments and related liability resulting from guarantees and indemnifications provided by us in the ordinary course of business were $148 million and $11 million, respectively, as of December 31, 2025 and $1.0 billion and $10 million, respectively, as of December 31, 2024.”

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Conditions in loan agreements that, if broken, can make debt due early.

“As of December 31, 2025, we were in compliance with the covenants contained in the credit facility and no amounts were drawn on this facility.”

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“The facility has a maturity date of September 24, 2028, and the availability of the facility is subject to compliance with certain covenants, principally our maintenance of a minimum Common Equity Tier 1 (CET1) risk-based capital ratio of 4.5 percent, with certain restrictions in relation to either accessing the facility or distributing capital to common shareholders in the event our CET1 risk-based capital ratio falls between 4.5 percent and 6.5 percent.”

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“As of December 31, 2025 and 2024, we were in compliance with the covenants contained in the credit facility.”

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Contracts the company must pay for later: purchase obligations, take-or-pay deals.

“Cash and due from banks (includes restricted cash of consolidated variable interest entities: 2025, nil; 2024, $6) $ 3,559 $ 3,413”

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“Short-term investment securities (includes restricted investments of consolidated variable interest entities: 2025, $84; 2024, $82) 742 221”

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New “Card Member receivables (includes gross receivables available to settle obligations of a consolidated variable interest entity: 2025, $5,659; 2024, $3,927), less reserves for credit losses: 2025, $180; 2024, $171 61,851 59,240”

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New “Card Member loans (includes gross loans available to settle obligations of a consolidated variable interest entity: 2025, $27,719; 2024, $28,278), less reserves for credit losses: 2025, $5,909; 2024, $5,679 145,923 133,995”

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“Long-term debt (includes debt issued by consolidated variable interest entities: 2025, $13,022; 2024, $13,880) 56,387 49,715”

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