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Debt (Tables)
 12 Months Ended
Dec. 31, 2012
Debt (Tables) [Abstract]  
Short-term borrowings

The Company's short-term borrowings outstanding, defined as borrowings with original maturities of less than one year, as of December 31 were as follows:

  2012  2011 
(Millions, except percentages) Outstanding Balance Year-End Stated Rate on Debt (a)(b) Outstanding Balance Year-End Stated Rate on Debt (a)(b)
Commercial paper $ ―  ―% $608  0.03%
Other short-term borrowings(c)  3,314  1.46%  3,729  1.32%
Total $3,314 1.46% $4,337  1.14%

  • For floating-rate debt issuances, the stated interest rates are based on the floating rates in effect as of December 31, 2012 and 2011, respectively. These rates may not be indicative of future interest rates.
  • Effective interest rates are only presented if swaps are in place to hedge the underlying debt. There were no swaps in place as of December 31, 2012 and 2011.
  • Includes interest-bearing overdrafts with banks of $615 million and $821 million as of December 31, 2012 and 2011, respectively. In addition, balances include certain book overdrafts (i.e., primarily timing differences arising in the ordinary course of business), short-term borrowings from banks, as well as interest-bearing amounts due to merchants in accordance with merchant service agreements.

 
Long-term debt

The Company's long-term debt outstanding, defined as debt with original maturities of one year or greater, as of December 31 was as follows:

  2012  2011 
(Millions, except percentages) Maturity Dates Outstanding Balance (a)Year-End Stated Rate on Debt (b)Year-End Effective Interest Rate with Swaps (b)(c)Outstanding Balance (a)Year-End Stated Rate on Debt (b)Year-End Effective Interest Rate with Swaps (b)(c)
American Express Company                   
(Parent Company only)        
Fixed Rate Senior Notes 2013-2042 $ 8,848 5.78%4.95%$ 9,364    6.90% 6.06%
Subordinated Debentures(d) 2036   749 6.80% ―  749    6.80% ― 
American Express Credit Corporation                   
Fixed Rate Senior Notes 2013-2017   17,163 4.20%2.39% 14,188    4.78% 2.80%
Floating Rate Senior Notes 2013-2015   2,203 1.59% ―  2,444    1.24% ― 
Borrowings under Bank Credit Facilities 2014-2016   4,672 4.87% ―  4,579    6.38% 6.27%
American Express Centurion Bank                   
Fixed Rate Senior Notes 2015-2017   2,120 4.12%3.32% 2,149    5.83% 3.32%
Floating Rate Senior Notes 2015   550 0.76% ―  400    0.43% ― 
American Express Bank, FSB                   
Fixed Rate Senior Notes 2013-2017   2,764 5.68%3.68% 3,581    5.65% 3.11%
Floating Rate Senior Notes 2017   300 0.51% ―  1,100    0.47% ― 
American Express Charge Trust                   
Floating Rate Senior Notes 2014   3,000 0.49% ―  4,488    0.52% ― 
Floating Rate Subordinated Notes     ―  ―  ―  72    0.75% ― 
American Express Lending Trust                 
Fixed Rate Senior Notes 2015   2,100  0.65% ―   ―  ―  ― 
Floating Rate Senior Notes 2013-2018   12,810 0.90% ―  15,065  0.95% ― 
Fixed Rate Subordinated Notes 2015   300  1.08% ―   ―  ―  ― 
Floating Rate Subordinated Notes 2013-2018   1,091 0.93% ―  1,245  0.85% ― 
Other                   
Fixed Rate Instruments(e) 2014-2022   123 5.94% ―  123    5.74% ― 
Floating Rate Borrowings 2014-2015   292 0.65% ―  129  0.66% ― 
Unamortized Underwriting Fees     (112)      (106)     
Total Long-Term Debt   $ 58,973 3.04%  $ 59,570    3.69%  

  • The outstanding balances include (i) unamortized discount and premium, (ii) the impact of movements in exchange rates on foreign currency denominated debt and (iii) the impact of fair value hedge accounting on certain fixed-rate notes that have been swapped to floating rate through the use of interest rate swaps. Under fair value hedge accounting, the outstanding balances on these fixed-rate notes are adjusted to reflect the impact of changes in fair value due to changes in interest rates. Refer to Note 12 for more details on the Company's treatment of fair value hedges.
  • For floating-rate debt issuances, the stated and effective interest rates are based on the floating rates in effect as of December 31, 2012 and 2011, respectively. These rates may not be indicative of future interest rates.
  • Effective interest rates are only presented when swaps are in place to hedge the underlying debt.
  • The maturity date will automatically be extended to September 1, 2066, except in the case of either (i) a prior redemption or (ii) a default. See further discussion on this page.
  • Includes $118 million and $123 million as of December 31, 2012 and 2011, respectively, related to capitalized lease transactions.
Aggregate annual maturities on long-term debt obligations

Aggregate annual maturities on long-term debt obligations (based on final maturity dates) as of December 31, 2012 were as follows:

 

(Millions) 2013 2014 2015 2016 2017 Thereafter Total
American Express Company (Parent Company only) $ 1,000 $ 1,250 $ ― $ 600 $ 1,500 $ 5,939 $ 10,289
American Express Credit Corporation   4,859   6,550   5,227   5,501   1,500   ―   23,637
American Express Centurion Bank   ―   ―   1,305   ―   1,300   2   2,607
American Express Bank, FSB   1,750   ―   ―   ―   1,300   ―   3,050
American Express Charge Trust   ―   3,000   ―   ―   ―   ―   3,000
American Express Lending Trust   4,056   4,000   5,423   ―   1,623   1,200   16,302
Other   ―   201   175   ―   ―   38   414
  $ 11,665 $ 15,001 $ 12,130 $ 6,101 $ 7,223 $ 7,179   59,299
Unamortized Underwriting Fees                     (112)
Unamortized Discount and Premium                     (17)
Impacts due to Debt Exchange                     (977)
Impacts due to Fair Value Hedge Accounting                     780
Total Long-Term Debt                   $ 58,973