(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
Not Applicable | ||
(Former name or former address, if changed since last report) |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Item 7.01 | Regulation FD Disclosure |
January 31, 2024 | December 31, 2023 | November 30, 2023 | |||||||||||||||
U.S. Consumer Card Member loans: | |||||||||||||||||
Total loans | $ | 81.1 | $ | 83.2 | $ | 81.3 | |||||||||||
30 days past due loans as a % of total | 1.5 | % | 1.4 | % | 1.4 | % | |||||||||||
Average loans | $ | 82.1 | $ | 82.2 | $ | 80.1 | |||||||||||
Net write-off rate – principal only (a) | 2.1 | % | 2.5%(b) | 1.7%(b) | |||||||||||||
U.S. Small Business Card Member loans: | |||||||||||||||||
Total loans | $ | 26.2 | $ | 25.8 | $ | 25.9 | |||||||||||
30 days past due loans as a % of total | 1.5 | % | 1.4 | % | 1.3 | % | |||||||||||
Average loans | $ | 26.0 | $ | 25.9 | $ | 25.7 | |||||||||||
Net write-off rate – principal only (a) | 2.1 | % | 2.2 | % | 2.0 | % | |||||||||||
Total Card Member loans – U.S. Consumer and U.S. Small Business | $ | 107.3 | $ | 109.0 | $ | 107.2 |
(a) | Net write-off rate based on principal only (i.e., excluding interest and/or fees). | ||||
(b) | Due to the timing of the Thanksgiving holiday in November 2023, information related to certain U.S. Consumer Card Member debt settlement agreements was received at a later time in the month. Operationally, such settlements resulted in writing off the associated loans in December 2023 in the ordinary course. |
January 1, 2024 through January 31, 2024 | December 1, 2023 through December 31, 2023 | November 1, 2023 through November 30, 2023 | |||||||||||||||
Ending total principal balance | $ | 25.9 | $ | 27.2 | $ | 26.5 | |||||||||||
Defaulted amount | $ | 0.04 | 0.05(a) | 0.04(a) | |||||||||||||
Annualized default rate, net of recoveries | 1.3 | % | 1.5%(a) | 1.2%(a) | |||||||||||||
Total 30+ days delinquent | $ | 0.2 | $ | 0.2 | $ | 0.2 |
(a) | Refer to footnote (b) of the above table. |
AMERICAN EXPRESS COMPANY | ||||||||
(REGISTRANT) | ||||||||
By: | /s/ Kristina V. Fink | |||||||
Name: Kristina V. Fink | ||||||||
Title: Corporate Secretary |
Document and Entity Information |
Feb. 15, 2024 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Document Period End Date | Feb. 15, 2024 |
Entity Registrant Name | AMERICAN EXPRESS CO |
Entity Central Index Key | 0000004962 |
Amendment Flag | false |
Entity Incorporation, State or Country Code | NY |
Entity File Number | 1-7657 |
Entity Tax Identification Number | 13-4922250 |
Entity Address, Address Line One | 200 Vesey Street |
Entity Address, City or Town | New York |
Entity Address, State or Province | NY |
Entity Address, Postal Zip Code | 10285 |
City Area Code | 212 |
Local Phone Number | 640-2000 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Shares (par value $0.20 per Share) |
Trading Symbol | AXP |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
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