Parent Company (Tables)
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12 Months Ended |
Dec. 31, 2017 |
Table Text Block [Abstract] |
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Condensed Statements of Income |
PARENT COMPANY – CONDENSED STATEMENTS OF INCOME Years Ended December 31 (Millions) | | 2017 | | 2016 | | 2015 | Revenues | | | | | | | | | | | Non-interest revenues | | | | | | | | | | | | Other | | | 358 | | | 391 | | | 400 | Total non-interest revenues | | | 358 | | | 391 | | | 400 | Interest income | | | 258 | | | 196 | | | 172 | Interest expense | | | 493 | | | 515 | | | 526 | Total revenues net of interest expense | | | 123 | | | 72 | | | 46 | Expenses | | | | | | | | | | | Salaries and employee benefits | | | 362 | | | 388 | | | 341 | | Other | | | 553 | | | 510 | | | 443 | Total expenses | | | 915 | | | 898 | | | 784 | Pretax loss | | | (792) | | | (826) | | | (738) | Income tax benefit | | | (354) | | | (327) | | | (268) | Net loss before equity in net income of subsidiaries and affiliates | | | (438) | | | (499) | | | (470) | Equity in net income of subsidiaries and affiliates | | | 3,174 | | | 5,907 | | | 5,633 | Net income | | $ | 2,736 | | $ | 5,408 | | $ | 5,163 |
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Condensed Balance Sheets |
PARENT COMPANY – CONDENSED BALANCE SHEETS As of December 31 (Millions) | | 2017 | | 2016 | Assets | | | | | | | Cash and cash equivalents | | $ | 4,726 | | $ | 5,229 | Investment securities | | | 1 | | | 1 | Equity in net assets of subsidiaries and affiliates | | | 18,191 | | | 20,522 | Accounts receivable, less reserves | | | 103 | | | 513 | Premises and equipment, less accumulated depreciation: 2017, $9; 2016, $96 | | | 5 | | | 30 | Loans to subsidiaries and affiliates | | | 11,664 | | | 7,620 | Due from subsidiaries and affiliates | | | 1,962 | | | 867 | Other assets | | | 252 | | | 277 | Total assets | | | 36,904 | | | 35,059 | Liabilities and Shareholders’ Equity | | | | | | | Liabilities | | | | | | | Accounts payable and other liabilities | | | 3,076 | | | 1,531 | Due to subsidiaries and affiliates | | | 175 | | | 619 | Short-term debt of subsidiaries and affiliates | | | 2,731 | | | 4,044 | Long-term debt | | | 12,695 | | | 8,364 | | Total liabilities | | | 18,677 | | | 14,558 | Shareholders’ Equity | | | | | | | Preferred Shares | | | ― | | | ― | Common shares | | | 172 | | | 181 | Additional paid-in capital | | | 12,210 | | | 12,733 | Retained earnings | | | 8,273 | | | 10,371 | Accumulated other comprehensive loss | | | (2,428) | | | (2,784) | | Total shareholders’ equity | | | 18,227 | | | 20,501 | Total liabilities and shareholders’ equity | | $ | 36,904 | | $ | 35,059 |
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Condensed Cash Flows |
PARENT COMPANY – CONDENSED STATEMENTS OF CASH FLOWS Years Ended December 31 (Millions) | | | 2017 | | | 2016 | | | 2015 | Cash Flows from Operating Activities | | | | | | | | | | Net income | | $ | 2,736 | | $ | 5,408 | | $ | 5,163 | Adjustments to reconcile net income to cash provided by operating activities: | | | | | | | | | | | Equity in net income of subsidiaries and affiliates | | | (3,174) | | | (5,903) | | | (5,633) | | Dividends received from subsidiaries and affiliates | | | 5,755 | | | 4,999 | | | 5,331 | | Other operating activities, primarily with subsidiaries and affiliates | | | 659 | | | (102) | | | 332 | Net cash provided by operating activities | | | 5,976 | | | 4,402 | | | 5,193 | Cash Flows from Investing Activities | | | | | | | | | | Purchase of investments | | | ― | | | ― | | | (3.00) | Purchase of premises and equipment | | | ― | | | (1) | | | (29) | Loans to subsidiaries and affiliates | | | (4,044) | | | 4,142 | | | (3,952) | Investments in subsidiaries and affiliates | | | ― | | | (25) | | | ― | Net cash provided by (used in) investing activities | | | (4,044) | | | 4,116 | | | (3,984) | Cash Flows from Financing Activities | | | | | | | | | | Proceeds from long-term debt | | | 5,900 | | | ― | | | ― | Payments on long-term debt | | | (1,500) | | | (1,350) | | | ― | Short-term debt of subsidiaries and affiliates | | | (1,313) | | | (2,879) | | | 986 | Issuance of American Express preferred shares | | | ― | | | ― | | | 841 | Issuance of American Express common shares and other | | | 129 | | | 176 | | | 192 | Repurchase of American Express common shares | | | (4,400) | | | (4,430) | | | (4,480) | Dividends paid | | | (1,251) | | | (1,206) | | | (1,172) | Net cash (used in) provided by financing activities | | | (2,435) | | | (9,689) | | | (3,633) | Net (decrease) increase in cash and cash equivalents | | | (503) | | | (1,171) | | | (2,424) | Cash and cash equivalents at beginning of year | | | 5,229 | | | 6,400 | | | 8,824 | Cash and cash equivalents at end of year | | $ | 4,726 | | $ | 5,229 | | $ | 6,400 |
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