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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Non-interest revenues        
Non-interest revenues $ 8,934 $ 6,877 $ 24,593 $ 20,648
Interest income        
Interest on loans 2,256 2,266 6,494 7,543
Interest and dividends on investment securities 18 33 66 98
Deposits with banks and other 27 25 73 155
Total interest income 2,301 2,324 6,633 7,796
Interest expense        
Deposits 109 202 356 788
Long-term debt and other 198 248 635 920
Total interest expense 307 450 991 1,708
Net interest income 1,994 1,874 5,642 6,088
Total revenues net of interest expense 10,928 8,751 30,235 26,736
Provisions for credit losses        
Provisions (191) 665 (1,472) 4,841
Total revenues net of interest expense after provisions for credit losses 11,119 8,086 31,707 21,895
Expenses        
Marketing and business development 2,355 1,822 6,340 4,889
Card Member rewards 3,020 2,004 7,975 5,745
Card Member services 579 259 1,328 923
Salaries and employee benefits 1,497 1,408 4,586 4,152
Other, net 1,218 1,229 3,095 3,748
Total expenses 8,669 6,722 23,324 19,457
Pretax income 2,450 1,364 8,383 2,438
Income tax provision 624 291 2,042 741
Net income $ 1,826 $ 1,073 $ 6,341 $ 1,697
Earnings per Common Share        
Basic (in dollars per share) $ 2.27 [1] $ 1.31 [1] $ 7.84 [2] $ 2.01 [2]
Diluted (in dollars per share) $ 2.27 [1] $ 1.30 [1] $ 7.82 [2] $ 2.01 [2]
Average common shares outstanding for earnings per common share:        
Basic (in shares) 786 804 796 805
Diluted (in shares) 787 805 797 806
Card Member Receivables        
Provisions for credit losses        
Provisions $ (12) $ 117 $ (147) $ 1,069
Card Member Loans        
Provisions for credit losses        
Provisions (177) 571 (1,146) 3,416
Other Loans        
Provisions for credit losses        
Provisions (2) (23) (179) 356
Discount revenue        
Non-interest revenues        
Non-interest revenues 6,676 4,999 18,245 14,852
Net card fees        
Non-interest revenues        
Non-interest revenues 1,312 1,191 3,851 3,442
Other fees and commissions        
Non-interest revenues        
Non-interest revenues 632 478 1,712 1,647
Other        
Non-interest revenues        
Non-interest revenues $ 314 $ 209 $ 785 $ 707
[1] Represents net income less (i) earnings allocated to participating share awards of $14 million and $7 million for the three months ended September 30, 2021 and 2020, respectively, (ii) dividends on preferred shares of $20 million and $16 million for the three months ended September 30, 2021 and 2020, respectively, and (iii) an equity-related adjustment of $9 million related to the redemption of preferred shares for the three months ended September 30, 2021.
[2] Represents net income less (i) earnings allocated to participating share awards of $45 million and $10 million for the nine months ended September 30, 2021 and 2020, respectively, (ii) dividends on preferred shares of $49 million and $65 million for the nine months ended September 30, 2021 and 2020, respectively, and (iii) an equity-related adjustment of $9 million related to the redemption of preferred shares for the nine months ended September 30, 2021.