XML 54 R36.htm IDEA: XBRL DOCUMENT v3.22.0.1
Parent Company
 12 Months Ended
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
Parent Company
PARENT COMPANY
PARENT COMPANY – CONDENSED STATEMENTS OF INCOME
Years Ended December 31 (Millions)
202120202019
Revenues
Non-interest revenues
Other$343 $480 $598 
Total non-interest revenues343 480 598 
Interest income96 228 692 
Interest expense482 630 902 
Total revenues net of interest expense(43)78 388 
Expenses
Salaries and employee benefits359 333 366 
Other346 562 816 
Total expenses705 895 1,182 
Pretax loss(748)(817)(794)
Income tax benefit(248)(236)(282)
Net loss before equity in net income of subsidiaries and affiliates(500)(581)(512)
Equity in net income of subsidiaries and affiliates8,560 3,716 7,271 
Net income$8,060 $3,135 $6,759 

PARENT COMPANY – CONDENSED BALANCE SHEETS
As of December 31 (Millions)
20212020
Assets  
Cash and cash equivalents$5,341 $10,968 
Equity in net assets of subsidiaries and affiliates22,623 23,306 
Loans to subsidiaries and affiliates17,848 15,887 
Due from subsidiaries and affiliates1,207 1,084 
Other assets158 164 
Total assets47,177 51,409 
Liabilities and Shareholders’ Equity
Liabilities
Accounts payable and other liabilities2,107 1,743 
Due to subsidiaries and affiliates443 1,100 
Debt with subsidiaries and affiliates136 2,772 
Long-term debt22,314 22,810 
Total liabilities25,000 28,425 
Shareholders’ Equity
Total shareholders’ equity22,177 22,984 
Total liabilities and shareholders’ equity$47,177 $51,409 
PARENT COMPANY – CONDENSED STATEMENTS OF CASH FLOWS
Years Ended December 31 (Millions)
202120202019
Cash Flows from Operating Activities
Net income$8,060 $3,135 $6,759 
Adjustments to reconcile net income to cash provided by operating activities:
Equity in net income of subsidiaries and affiliates(8,560)(3,716)(7,271)
Dividends received from subsidiaries and affiliates9,102 2,679 6,370 
Other operating activities, primarily with subsidiaries and affiliates(305)732 1,315 
Net cash provided by operating activities8,297 2,830 7,173 
Cash Flows from Investing Activities
Maturities and redemptions of investment securities— — 1 
(Increase) decrease in loans to subsidiaries and affiliates(176)11,434 (4,405)
Investments in subsidiaries and affiliates(60)(52)(15)
Other investing activities— 74 82 
Net cash (used in) provided by investing activities(236)11,456 (4,337)
Cash Flows from Financing Activities
Net decrease in short-term debt from subsidiaries and affiliates(2,636)(3,289)(1,500)
Proceeds from long-term debt3,000 — 6,469 
Payments of long-term debt(5,000)(2,000)(641)
Issuance of American Express preferred shares1,584 — — 
Redemption of American Express preferred shares(1,600)— — 
Issuance of American Express common shares 64 44 86 
Repurchase of American Express common shares and other(7,652)(1,029)(4,685)
Dividends paid(1,448)(1,474)(1,422)
Net cash used in financing activities(13,688)(7,748)(1,693)
Net (decrease) increase in cash and cash equivalents(5,627)6,538 1,143 
Cash and cash equivalents at beginning of year10,968 4,430 3,287 
Cash and cash equivalents at end of year$5,341 $10,968 $4,430 

Supplemental cash flow information
Years Ended December 31 (Millions)
202120202019
Non-Cash Investing Activities
Loans to subsidiaries and affiliates$(1,787)$(4,971)$— 
Non-Cash Financing Activities
Short-term debts from subsidiaries and affiliates— 4,971 — 
Proceeds from long-term debt$1,787 $— $—