EXHIBIT 12

AMERICAN EXPRESS COMPANY

COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

	Years Ended December 31,
	2005		2004		2003		2002		2001
Earnings:
Pretax income from continuing operations	$	4,248	$	3,831	$	3,415	$	3,021	$	1,737
Interest expense		2,168		1,659		1,606		1,832		2,856
Other adjustments		150		151		154		174		175
Total earnings (a)	$	6,566	$	5,641	$	5,175	$	5,027	$	4,768
Fixed charges:
Interest expense	$	2,168	$	1,659	$	1,606	$	1,832	$	2,856
Other adjustments		151		145		139		151		170
Total fixed charges (b)	$	2,319	$	1,804	$	1,745	$	1,983	$	3,026
Ratio of earnings to fixed charges (a/b)		2.83		3.13		2.97		2.54		1.58

Included in interest expense in the above computation is interest expense related to the international banking operations and the cardmember lending activities, which is netted against net investment income and cardmember lending net finance charge revenue, respectively, in the Consolidated Statements of Income.

For purposes of the “earnings” computation, other adjustments include adding the amortization of capitalized interest, the net loss of affiliates accounted for under the equity method whose debt is not guaranteed by the Company, the minority interest in the earnings of majority-owned subsidiaries with fixed charges, and the interest component of rental expense and subtracting undistributed net income of affiliates accounted for under the equity method.

For purposes of the “fixed charges” computation, other adjustments include capitalized interest costs and the interest component of rental expense.