Parent Company

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Parent Company

PARENT COMPANY

PARENT COMPANY – CONDENSED STATEMENTS OF INCOME

Years Ended December 31 (Millions)	2020		2019		2018
Revenues
Non-interest revenues
Other	$	480	$	598	$	426
Total non-interest revenues	480		598		426
Interest income	228		692		422
Interest expense	630		902		615
Total revenues net of interest expense	78		388		233
Expenses
Salaries and employee benefits	333		366		336
Other	562		816		607
Total expenses	895		1,182		943
Pretax loss	(817)		(794)		(710)
Income tax benefit	(236)		(282)		(179)
Net loss before equity in net income of subsidiaries and affiliates	(581)		(512)		(531)
Equity in net income of subsidiaries and affiliates	3,716		7,271		7,452
Net income	$	3,135	$	6,759	$	6,921

PARENT COMPANY – CONDENSED BALANCE SHEETS

As of December 31 (Millions)	2020		2019
Assets
Cash and cash equivalents	$	10,968	$	4,430
Equity in net assets of subsidiaries and affiliates	23,306		23,165
Loans to subsidiaries and affiliates	15,887		22,350
Due from subsidiaries and affiliates	1,084		1,168
Other assets	164		223
Total assets	51,409		51,336
Liabilities and Shareholders’ Equity
Liabilities
Accounts payable and other liabilities	1,743		2,197
Due to subsidiaries and affiliates	1,100		609
Debt with subsidiaries and affiliates	2,772		1,091
Long-term debt	22,810		24,368
Total liabilities	28,425		28,265
Shareholders’ Equity
Total shareholders’ equity	22,984		23,071
Total liabilities and shareholders’ equity	$	51,409	$	51,336

PARENT COMPANY – CONDENSED STATEMENTS OF CASH FLOWS

Years Ended December 31 (Millions)	2020		2019		2018
Cash Flows from Operating Activities
Net income	$	3,135	$	6,759	$	6,921
Adjustments to reconcile net income to cash provided by operating activities:
Equity in net income of subsidiaries and affiliates	(3,716)		(7,271)		(7,452)
Dividends received from subsidiaries and affiliates	2,679		6,370		3,222
Other operating activities, primarily with subsidiaries and affiliates	732		1,315		(257)
Net cash provided by operating activities	2,830		7,173		2,434
Cash Flows from Investing Activities
Maturities and redemptions of investment securities	—		1		—
Decrease (increase) in loans to subsidiaries and affiliates	11,434		(4,405)		(6,281)
Investments in subsidiaries and affiliates	(52)		(15)		(30)
Other investing activities	74		82		—
Net cash provided by (used in) investing activities	11,456		(4,337)		(6,311)
Cash Flows from Financing Activities
Proceeds from long-term debt	—		6,469		9,350
Payments of long-term debt	(2,000)		(641)		(3,850)
Net decrease in short-term debt from subsidiaries and affiliates	(3,289)		(1,500)		(140)
Issuance of American Express common shares	44		86		87
Repurchase of American Express common shares and other	(1,029)		(4,685)		(1,685)
Dividends paid	(1,474)		(1,422)		(1,324)
Net cash (used in) provided by financing activities	(7,748)		(1,693)		2,438
Net increase (decrease) in cash and cash equivalents	6,538		1,143		(1,439)
Cash and cash equivalents at beginning of year	4,430		3,287		4,726
Cash and cash equivalents at end of year	$	10,968	$	4,430	$	3,287

Supplemental cash flow information
Years Ended December 31 (Millions)	2020		2019		2018
Non-Cash Investing Activities
Loans to subsidiaries and affiliates	$	(4,971)	$	—	$	—
Non-Cash Financing Activities
Short-term debts from subsidiaries and affiliates	$	4,971	$	—	$	—