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EXHIBIT 99.2
American Express Company(Preliminary)
Consolidated Statements of Income
(Millions, except percentages and per share amounts)
Q4'21Q3'21Q2'21Q1'21Q4'20YOY % changeYTD'21YTD'20YOY % change
Non-interest revenues
Discount revenue$7,482 $6,676 $6,327 $5,242 $5,549 35 $25,727 $20,401 26 
Net card fees (A)1,344 1,312 1,286 1,253 1,222 10 5,195 4,664 11 
Other fees and commissions680 632 560 520 516 32 2,392 2,163 11 
Other531 314 252 219 167 #1,316 874 51 
Total non-interest revenues10,037 8,934 8,425 7,234 7,454 35 34,630 28,102 23 
Interest income
Interest on loans2,356 2,256 2,094 2,144 2,236 5 8,850 9,779 (9)
Interest and dividends on investment securities17 18 24 24 29 (41)83 127 (35)
Deposits with banks and other27 27 22 24 22 23 100 177 (44)
Total interest income2,400 2,301 2,140 2,192 2,287 5 9,033 10,083 (10)
Interest expense
Deposits102 109 113 134 155 (34)458 943 (51)
Long-term debt and other190 198 209 228 235 (19)825 1,155 (29)
Total interest expense292 307 322 362 390 (25)1,283 2,098 (39)
Net interest income2,108 1,994 1,818 1,830 1,897 11 7,750 7,985 (3)
Total revenues net of interest expense12,145 10,928 10,243 9,064 9,351 30 42,380 36,087 17 
Provisions for credit losses
Card Member receivables74 (12)(125)(10)(54)#(73)1,015 #
Card Member loans(9)(177)(396)(573)37 #(1,155)3,453 #
Other(12)(2)(85)(92)(94)(87)(191)262 #
Total provisions for credit losses53 (191)(606)(675)(111)#(1,419)4,730 #
Total revenues net of interest expense after provisions for credit losses12,092 11,119 10,849 9,739 9,462 28 43,799 31,357 40 
Expenses
Marketing and business development (A)2,713 2,355 2,219 1,766 1,858 46 9,053 6,747 34 
Card Member rewards3,032 3,020 2,712 2,243 2,296 32 11,007 8,041 37 
Card Member services665 579 432 317 307 #1,993 1,230 62 
Salaries and employee benefits1,654 1,497 1,539 1,550 1,566 6 6,240 5,718 9 
Professional services607 490 458 403 523 16 1,958 1,789 9 
Data processing and equipment659 613 577 582 644 2 2,431 2,334 4 
Other, net456 115 (28)(115)410 11 428 1,202 (64)
Total expenses9,786 8,669 7,909 6,746 7,604 29 33,110 27,061 22 
Pretax income2,306 2,450 2,940 2,993 1,858 24 10,689 4,296 #
Income tax provision587 624 660 758 420 40 2,629 1,161 #
Net income$1,719 $1,826 $2,280 $2,235 $1,438 20 $8,060 $3,135 #
Net income attributable to common shareholders (B)$1,679 $1,783 $2,249 $2,206 $1,415 19 $7,917 $3,036 #
Effective tax rate25.5 %25.5 %22.4 %25.3 %22.6 %24.6 %27.0 %
Earnings Per Common Share
Basic
Net income attributable to common shareholders$2.19 $2.27 $2.81 $2.74 $1.76 24 $10.04 $3.77 #
Average common shares outstanding768 786 801 804 805 (5)789 805 (2)
Diluted
Net income attributable to common shareholders $2.18 $2.27 $2.80 $2.74 $1.76 24 $10.02 $3.77 #
Average common shares outstanding769 787 802 805 806 (5)790 806 (2)
Cash dividends declared per common share $0.43 $0.43 $0.43 $0.43 $0.43 — $1.72 $1.72 — 
# - Denotes a variance of 100 percent or more.

See Appendix IV for footnote references.
1


American Express Company(Preliminary)
Consolidated Balance Sheets and Related Statistical Information 
(Billions, except percentages, per share amounts and where indicated) 

 Q4'21Q3'21Q2'21Q1'21Q4'20YOY % change
Assets      
Cash & cash equivalents$22 $28 $31 $40 $33 (33)
Card Member receivables, less reserves54 49 48 42 43 26 
Card Member loans, less reserves85 74 72 66 68 25 
Investment securities3 10 12 21 22 (86)
Other (C)25 23 24 24 25 — 
Total assets$189 $184 $187 $193 $191 (1)
Liabilities and Shareholders' Equity      
Customer deposits$84 $84 $85 $89 $87 (3)
Short-term borrowings2 2 2 2 2 — 
Long-term debt39 34 37 42 43 (9)
Other (C)42 40 37 36 36 17 
Total liabilities$167 $160 $161 $169 $168 (1)
Shareholders' Equity22 24 26 24 23 (4)
Total liabilities and shareholders' equity$189 $184 $187 $193 $191 (1)
Return on average equity (D)33.7 %32.6 %30.5 %22.6 %14.2 %
Return on average common equity (D)35.8 %34.7 %32.2 %23.9 %14.9 %
Book value per common share (dollars)$27.05 $28.39 $30.02 $28.46 $26.58 2 























See Appendix IV for footnote references.
2



American Express Company(Preliminary)
Consolidated Capital
 
 Q4'21Q3'21Q2'21Q1'21Q4'20
Shares Outstanding (in millions) 
Beginning of period778 798 803 805 805 
Repurchase of common shares(17)(20)(6)(3)— 
Net impact of employee benefit plans and others— — 1 1 — 
End of period761 778 798 803 805 
Risk-Based Capital Ratios - Basel III ($ in billions) 
Common Equity Tier 1/Risk Weighted Assets (RWA)10.5 %12.6 %14.2 %14.8 %13.5 %
Tier 111.5 %14.2 %15.3 %16.0 %14.7 %
Total12.9 %15.7 %16.8 %17.5 %16.2 %
Common Equity Tier 1$17.6 $19.1 $21.0 $20.0 $18.7 
Tier 1 Capital$19.2 $21.4 $22.6 $21.6 $20.3 
Tier 2 Capital$2.3 $2.2 $2.2 $2.1 $2.1 
Total Capital$21.5 $23.7 $24.8 $23.6 $22.4 
RWA$166.5 $150.7 $147.5 $135.1 $138.3 
Tier 1 Leverage10.5 %11.8 %12.2 %11.4 %11.0 %
Average Total Assets to calculate the Tier 1 Leverage Ratio (E)$183.5 $182.1 $185.6 $189.3 $185.1 





See Appendix IV for footnote references.
3



American Express Company (Preliminary)
Selected Card Related Statistical Information  
(Billions, except percentages and where indicated)  

 Q4'21Q3'21Q2'21Q1'21Q4'20YOY % changeYTD'21YTD'20YOY % change
Network volumes (F)
U.S.$256.2 $232.0 $222.6 $186.2 $195.0 31 $897.0 $708.1 27 
Outside the U.S.111.9 98.7 93.5 83.1 90.9 23 387.2 329.7 17 
Total$368.1 $330.7 $316.1 $269.3 $285.9 29 $1,284.2 $1,037.8 24 
Billed business (F)$316.2 $280.4 $267.8 $225.4 $239.8 32 $1,089.8 $870.7 25 
Processed volumes (F)51.9 50.3 48.3 43.9 46.1 13 194.4 167.1 16 
Total$368.1 $330.7 $316.1 $269.3 $285.9 29 $1,284.2 $1,037.8 24 
Cards-in-force (millions) (G)
U.S.56.4 56.0 54.8 54.1 53.8 5 56.4 53.8 5 
Outside the U.S.65.3 63.2 60.2 58.8 58.2 12 65.3 58.2 12 
Total121.7 119.2 115.0 112.9 112.0 9 121.7 112.0 9 
Proprietary71.4 70.6 69.6 69.0 68.9 4 71.4 68.9 4 
GNS50.3 48.6 45.4 43.9 43.1 17 50.3 43.1 17 
Total121.7 119.2 115.0 112.9 112.0 9 121.7 112.0 9 
Basic cards-in-force (millions) (G)
U.S.44.3 44.0 43.0 42.4 42.2 5 44.3 42.2 5 
Outside the U.S.56.4 54.3 51.2 49.8 49.1 15 56.4 49.1 15 
Total100.7 98.3 94.2 92.2 91.3 10 100.7 91.3 10 
Average proprietary basic Card Member spending (dollars)
U.S.$6,351 $5,771 $5,607 $4,723 $4,983 27 $22,477 $18,085 24 
Outside the U.S.$4,502 $3,893 $3,686 $3,170 $3,505 28 $15,251 $12,264 24 
Average$5,822 $5,231 $5,051 $4,270 $4,549 28 $20,392 $16,352 25 
Card Member loans
U.S.$76.9 $67.5 $66.2 $61.6 $64.2 20 $76.9 $64.2 20 
Outside the U.S.11.7 9.5 9.4 8.5 9.2 27 11.7 9.2 27 
Total$88.6 $77.0 $75.6 $70.1 $73.4 21 $88.6 $73.4 21 
Average discount rate (H)2.30 %2.32 %2.30 %2.26 %2.25 %2.30 %2.28 %
Average fee per card (dollars) (I)$76 $75 $74 $73 $71 7 $74 $67 10 


See Appendix IV for footnote references.
4


American Express Company(Preliminary)
Selected Credit Related Statistical Information
(Billions, except percentages and where indicated)

 Q4'21Q3'21Q2'21Q1'21Q4'20YOY % changeYTD'21YTD'20YOY % change
Worldwide Card Member loans         
U.S.$76.9 $67.5 $66.2 $61.6 $64.2 20 $76.9 $64.2 20 
Outside the U.S.$11.7 $9.5 $9.4 $8.5 $9.2 27 $11.7 $9.2 27 
Total loans$88.6 $77.0 $75.6 $70.1 $73.4 21 $88.6 $73.4 21 
Credit loss reserves (millions)
Beginning balance$3,489 $3,835 $4,467 $5,344 $5,688 (39)$5,344 $4,027 33 
Provisions - principal, interest and fees(9)(177)(396)(573)37 #(1,155)3,453 #
Net write-offs - principal less recoveries(128)(118)(185)(241)(346)(63)(672)(1,795)(63)
Net write-offs - interest and fees less recoveries(43)(43)(58)(63)(74)(42)(207)(375)(45)
Other (J)(4)(8)7 — 39 #(5)34 #
Ending balance $3,305 $3,489 $3,835 $4,467 $5,344 (38)$3,305 $5,344 (38)
% of loans3.7 %4.5 %5.1 %6.4 %7.3 %3.7 %7.3 %
% of past due 555 %666 %782 %723 %727 %555 %727 %
Average loans$82.9 $76.4 $72.8 $70.7 $71.2 16 $76.1 $74.6 2 
Net write-off rate (principal only) (K)0.6 %0.6 %1.0 %1.4 %1.9 %0.9 %2.4 %
Net write-off rate (principal, interest and fees) (K)0.8 %0.8 %1.3 %1.7 %2.4 %1.2 %2.9 %
30+ days past due as a % of total (L)0.7 %0.7 %0.6 %0.9 %1.0 %0.7 %1.0 %
Net interest income divided by average Card Member loans (M)10.2 %10.4 %10.0 %10.4 %10.7 %10.2 %10.7 % 
Net interest yield on average Card Member loans (M)10.3 %10.8 %10.6 %11.3 %11.4 %10.7 %11.5 % 
Worldwide Card Member receivables         
U.S.$38.4 $34.8 $33.9 $30.1 $30.5 26 $38.4 $30.5 26 
Outside the U.S.$15.2 $14.0 $13.7 $11.9 $13.2 15 $15.2 $13.2 15 
Total receivables$53.6 $48.8 $47.6 $42.0 $43.7 23 $53.6 $43.7 23 
Credit loss reserves (millions)
Beginning balance$30 $73 $202 $267 $422 (93)$267 $126 #
Provisions - principal and fees74 (12)(125)(10)(54)#(73)1,015 #
Net write-offs - principal and fees less recoveries (N)(40)(32)(4)(53)(105)(62)(129)(881)(85)
Other (J)— 1 — (2)4 #(1)7 #
Ending balance$64 $30 $73 $202 $267 (76)$64 $267 (76)
% of receivables0.1 %0.1 %0.2 %0.5 %0.6 %0.1 %0.6 %
Net write-off rate (principal and fees) (K)(N)0.3 %0.3 %— %0.5 %1.0 %0.3 %2.0 % 
Net write-off rate, excluding Global Corporate Payments (GCP) (principal and fees) (K)(O)0.4 %0.3 %0.3 %0.6 %1.1 %0.4 %2.1 % 
Net write-off rate, excluding GCP (principal only) (K)(O)0.3 %0.2 %0.3 %0.5 %1.0 %0.3 %1.9 % 
30+ days past due as a % of total, excluding GCP (L)(O)0.6 %0.5 %0.5 %0.6 %0.6 %0.6 %0.6 % 
Other loans (C)
Total other loans$2.9 $2.4 $2.2 $2.3 $2.9 — $2.9 $2.9 — 
Credit loss reserves (millions)
Beginning balance$66 $72 $143 $238 $370 (82)$238 $172 38 
Provisions(12)(5)(65)(82)(101)(88)(164)177 #
Net write-offs(2)— (5)(14)(31)(94)(21)(111)(81)
Other (J)— (1)(1)1 — — (1)— — 
Ending balance$52 $66 $72 $143 $238 (78)$52 $238 (78)
% of other loans1.8 %2.8 %3.3 %6.2 %8.2 %1.8 %8.2 %
Other receivables (C)
Total other receivables$2.7 $2.7 $2.9 $2.4 $3.0 (10)$2.7 $3.0 (10)
Credit loss reserves (millions)
Beginning balance$33 $39 $67 $85 $85 (61)$85 $27 #
Provisions— 3 (20)(10)7 #(27)85 #
Net write-offs(8)(9)(8)(8)(7)14 (33)(27)22 
Ending balance$25 $33 $39 $67 $85 (71)$25 $85 (71)
% of other receivables0.9 %1.2 %1.3 %2.8 %2.8 %0.9 %2.8 %

# - Denotes a variance of 100 percent or more.




































See Appendix IV for footnote references.
5


American Express Company (Preliminary)
Selected Income Statement Information by Segment 
(Millions)   

Global Consumer Services Group
(GCSG) (P)		Global Commercial Services
(GCS)		Global Merchant and Network Services
(GMNS) (P)		Corporate and OtherConsolidated
Q4'21     
Non-interest revenues$5,175 $3,264 $1,419 $179 $10,037 
Interest income1,955 401 4 40 2,400 
Interest expense181 111 (31)31 292 
Total revenues net of interest expense6,949 3,554 1,454 188 12,145 
Total provisions for credit losses27 26 — — 53 
Total revenues net of interest expense after provisions for credit losses6,922 3,528 1,454 188 12,092 
Marketing, business development, and Card Member rewards and services4,153 1,819 430 8 6,410 
Salaries and employee benefits and other operating expenses1,468 1,003 516 389 3,376 
Pretax income (loss)1,301 706 508 (209)2,306 
Q4'20
Non-interest revenues$3,970 $2,523 $1,086 $(125)$7,454 
Interest income1,901 334 4 48 2,287 
Interest expense210 126 (21)75 390 
Total revenues net of interest expense5,661 2,731 1,111 (152)9,351 
Total provisions for credit losses43 (164)12 (2)(111)
Total revenues net of interest expense after provisions for credit losses5,618 2,895 1,099 (150)9,462 
Marketing, business development, and Card Member rewards and services2,799 1,338 330 (6)4,461 
Salaries and employee benefits and other operating expenses1,359 890 493 401 3,143 
Pretax income (loss)1,460 667 276 (545)1,858 
YOY % change
Non-interest revenues30 29 31 #35 
Interest income3 20 — (17)5 
Interest expense(14)(12)48 (59)(25)
Total revenues net of interest expense23 30 31 #30 
Total provisions for credit losses(37)####
Total revenues net of interest expense after provisions for credit losses23 22 32 #28 
Marketing, business development, and Card Member rewards and services48 36 30 #44 
Salaries and employee benefits and other operating expenses8 13 5 (3)7 
Pretax income (loss)(11)6 84 (62)24 

# - Denotes a variance of 100 percent or more.






See Appendix IV for footnote references.
6

American Express Company(Preliminary)
Network Volumes Related Growth 

 YOY % change
 ReportedFX-Adjusted (Q)ReportedFX-Adjusted (Q)
 Q4'21Q3'21Q2'21Q1'21Q4'20Q4'21Q3'21Q2'21Q1'21Q4'20YTD'21YTD'21
Worldwide            
Network volumes (F)29%29%50%(6)%(14)%30%29%46%(8)%(15)%24%23%
Total billed business (F)323153(7)(15)333151(9)(16)2524
Consumer billed business343462(4)(12)353458(6)(13)2928
Commercial billed business292845(10)(18)302843(12)(19)2120
Processed volumes (F)1320333(8)151826(1)(10)1614
U.S.
Network volumes (F)313353(4)(12)n/an/an/an/an/a27n/a
Total billed business (F)333253(5)(12)n/an/an/an/an/a26n/a
Consumer billed business373763(2)(11)n/an/an/an/an/a32n/a
Commercial billed business292844(8)(15)n/an/an/an/an/a21n/a
Outside the U.S.
Network volumes (F)232242(10)(18)262032(15)(21)1714
Total billed business (F)292855(14)(22)322543(20)(25)2117
Consumer billed business282759(10)(17)322446(17)(20)2319
Commercial billed business302849(20)(31)342738(26)(33)1814
Asia Pacific, Australia & New Zealand network volumes121028—(10)161020(7)(15)129
Latin America, Canada & Caribbean network volumes363955(19)(29)383545(18)(25)2322
Europe, the Middle East & Africa network volumes383666(21)(28)403151(27)(31)2519
Merchant Industry Metrics
Worldwide billed business (F)
Goods & Services (G&S)-related (79% of Q4'21 worldwide billed business) (R)19183485191831641918
T&E-related (21% of Q4'21 worldwide billed business)130126347(49)(64)132124340(50)(65)5958
Airline-related (4% of Q4'21 worldwide billed business)271429#(72)(85)274426#(73)(85)6361
U.S. billed business (F)
G&S-related (80% of Q4'21 U.S. billed business) (R)20193375n/an/an/an/an/a19n/a
T&E-related (20% of Q4'21 U.S. billed business)134141350(43)(62)n/an/an/an/an/a70n/a
Airline-related (3% of Q4'21 U.S. billed business)264421#(67)(82)n/an/an/an/an/a80n/a

# - Denotes a variance of 1,000 percent or more.

See Appendix IV for footnote references.
7


Global Consumer Services Group(Preliminary)
Selected Income Statement and Statistical Information (P)
(Millions, except percentages)

 Q4'21Q3'21Q2'21Q1'21Q4'20YOY % changeYTD'21YTD'20YOY % change
Non-interest revenues$5,175 $4,699 $4,464 $3,819 $3,970 30 $18,157 $14,632 24 
Interest income1,955 1,879 1,749 1,808 1,901 3 7,391 8,199 (10)
Interest expense181 174 174 188 210 (14)717 1,054 (32)
Net interest income1,774 1,705 1,575 1,620 1,691 5 6,674 7,145 (7)
Total revenues net of interest expense6,949 6,404 6,039 5,439 5,661 23 24,831 21,777 14 
Total provisions for credit losses27 (126)(342)(504)43 (37)(945)3,150 #
Total revenues net of interest expense after provisions for credit losses6,922 6,530 6,381 5,943 5,618 23 25,776 18,627 38 
Expenses
Marketing, business development, and Card Member rewards and services4,153 3,791 3,327 2,627 2,799 48 13,898 9,841 41 
Salaries and employee benefits and other operating expenses1,468 1,251 1,172 1,161 1,359 8 5,052 5,099 (1)
Total expenses5,621 5,042 4,499 3,788 4,158 35 18,950 14,940 27 
Pretax segment income1,301 1,488 1,882 2,155 1,460 (11)6,826 3,687 85 
(Billions, except percentages and where indicated)
Billed business (F)
U.S.$129.5 $114.9 $110.8 $89.0 $94.8 37 $444.2 $337.6 32 
Outside the U.S.$44.6 $38.2 $35.8 $30.3 $34.7 29 $148.9 $121.1 23 
Total$174.1 $153.1 $146.6 $119.3 $129.5 34 $593.1 $458.7 29 
Proprietary cards-in-force (millions) (G)
U.S.39.0 38.7 38.1 37.8 37.7 3 39.0 37.7 3 
Outside the U.S.17.0 16.8 16.7 16.7 16.7 2 17.0 16.7 2 
Total56.0 55.5 54.8 54.5 54.4 3 56.0 54.4 3 
Proprietary basic cards-in-force (millions) (G)
U.S.27.3 27.2 26.9 26.7 26.6 3 27.3 26.6 3 
Outside the U.S.11.9 11.7 11.6 11.6 11.6 3 11.9 11.6 3 
Total39.2 38.9 38.5 38.3 38.2 3 39.2 38.2 3 
Average proprietary basic Card Member spending (dollars)
U.S$4,755 $4,255 $4,138 $3,336 $3,567 33 $16,498 $12,641 31 
Outside the U.S.$3,770 $3,278 $3,087 $2,616 $2,984 26 $12,759 $10,175 25 
Average$4,457 $3,960 $3,821 $3,118 $3,390 31 $15,368 $11,881 29 
Segment assets$102.1 $91.8 $89.7 $81.9 $87.4 17 $102.1 $87.4 17 
Card Member loans
Total loans
U.S.$59.8 $52.6 $51.8 $48.3 $51.4 16 $59.8 $51.4 16 
Outside the U.S.$10.7 $9.0 $8.8 $8.0 $8.7 23 $10.7 $8.7 23 
Total$70.5 $61.6 $60.6 $56.3 $60.1 17 $70.5 $60.1 17 
Average loans
U.S.$56.1 $52.3 $49.9 $49.0 $50.3 12 $52.0 $53.0 (2)
Outside the U.S.$10.0 $8.9 $8.4 $8.3 $8.3 20 $9.0 $8.6 5 
Total$66.1 $61.2 $58.3 $57.3 $58.6 13 $61.0 $61.6 (1)
Lending Credit Metrics
U.S.         
Net write-off rate (principal only) (K)0.6 %0.5 %0.9 %1.3 %1.9 %0.8 %2.4 % 
Net write-off rate (principal, interest and fees) (K)0.8 %0.8 %1.2 %1.6 %2.3 %1.1 %2.9 % 
30+ days past due as a % of total (L)0.7 %0.7 %0.6 %0.9 %1.0 %0.7 %1.0 % 
Outside the U.S. 
Net write-off rate (principal only) (K)0.9 %1.3 %2.2 %2.5 %2.5 %1.7 %3.0 % 
Net write-off rate (principal, interest and fees) (K)1.2 %1.7 %2.9 %3.2 %3.1 %2.2 %3.7 % 
30+ days past due as a % of total (L)0.8 %1.0 %1.1 %1.6 %1.7 %0.8 %1.7 % 
Total 
Net write-off rate (principal only) (K)0.6 %0.7 %1.1 %1.4 %2.0 %0.9 %2.5 % 
Net write-off rate (principal, interest and fees) (K)0.9 %0.9 %1.5 %1.8 %2.4 %1.3 %3.0 % 
30+ days past due as a % of total (L)0.7 %0.7 %0.7 %1.0 %1.1 %0.7 %1.1 % 
Net interest income divided by average Card Member loans (M)10.7 %11.1 %10.8 %11.3 %11.5 %10.9 %11.6 % 
Net interest yield on average Card Member loans (M)
U.S.11.2 %11.6 %11.4 %12.1 %12.0 %11.5 %11.9 % 
Outside the U.S.8.0 %9.3 %9.9 %10.9 %11.1 %9.4 %11.9 % 
Total10.7 %11.3 %11.1 %11.9 %11.9 %11.2 %11.9 % 
Card Member receivables
U.S.$14.7 $12.6 $12.9 $11.2 $11.9 24 $14.7 $11.9 24 
Outside the U.S.$7.7 $6.9 $7.0 $6.0 $6.8 13 $7.7 $6.8 13 
Total receivables$22.4 $19.5 $19.9 $17.2 $18.7 20 $22.4 $18.7 20 
Charge Credit Metrics         
U.S.         
Net write-off rate (principal only) (K)0.2 %— %— %— %0.4 %— %1.3 % 
Net write-off rate (principal and fees) (K)0.2 %0.1 %— %0.1 %0.5 %0.1 %1.4 % 
30+ days past due as a % of total (L)0.4 %0.4 %0.3 %0.4 %0.4 %0.4 %0.4 % 
Outside the U.S. 
Net write-off rate (principal only) (K)0.5 %0.6 %1.0 %1.3 %1.3 %0.8 %2.5 % 
Net write-off rate (principal and fees) (K)0.6 %0.7 %1.1 %1.4 %1.5 %0.9 %2.7 % 
30+ days past due as a % of total (L)0.7 %0.7 %0.7 %0.9 %1.0 %0.7 %1.0 % 
Total 
Net write-off rate (principal only) (K)0.3 %0.2 %0.3 %0.5 %0.7 %0.3 %1.7 % 
Net write-off rate (principal and fees) (K)0.3 %0.3 %0.4 %0.6 %0.8 %0.4 %1.9 % 
30+ days past due as a % of total (L)0.5 %0.5 %0.4 %0.6 %0.6 %0.5 %0.6 % 

# - Denotes a variance of 100 percent or more.









See Appendix IV for footnote references.
8

Global Commercial Services
(Preliminary)

Selected Income Statement and Statistical Information
(Millions, except percentages)
 Q4'21Q3'21Q2'21Q1'21Q4'20YOY % changeYTD'21YTD'20YOY % change
Non-interest revenues$3,264 $2,978 $2,815 $2,432 $2,523 29 $11,489 $9,652 19 
Interest income401 378 345 336 334 20 1,460 1,586 (8)
Interest expense111 111 111 116 126 (12)449 619 (27)
Net interest income290 267 234 220 208 39 1,011 967 5 
Total revenues net of interest expense3,554 3,245 3,049 2,652 2,731 30 12,500 10,619 18 
Total provisions for credit losses (N)26 (67)(235)(162)(164)#(438)1,493 #
Total revenues net of interest expense after provisions for credit losses3,528 3,312 3,284 2,814 2,895 22 12,938 9,126 42 
Expenses
Marketing, business development, and Card Member rewards and services1,819 1,757 1,630 1,386 1,338 36 6,592 4,991 32 
Salaries and employee benefits and other operating expenses1,003 837 815 763 890 13 3,418 3,199 7 
Total expenses2,822 2,594 2,445 2,149 2,228 27 10,010 8,190 22 
Pretax segment income (loss)706 718 839 665 667 6 2,928 936 #
(Billions, except percentages and where indicated)
Billed business (F)$140.9 $126.1 $119.9 $104.0 $109.1 29 $490.9 $406.5 21 
Proprietary cards-in-force (millions) (G)15.4 15.1 14.8 14.5 14.5 6 15.4 14.5 6 
Average Card Member spending (dollars)$9,235 $8,447 $8,180 $7,159 $7,515 23 $33,055 $27,769 19 
Segment assets$52.9 $48.2 $46.4 $42.4 $42.1 26 $52.9 $42.1 26 
Card Member loans
Total loans$18.1 $15.4 $15.0 $13.8 $13.3 36 $18.1 $13.3 36 
Total loans - Global Small Business Services (GSBS)$18.0 $15.3 $15.0 $13.8 $13.2 36 $18.0 $13.2 36 
30+ days past due as a % of total - GSBS (L)0.5 %0.5 %0.4 %0.6 %0.7 %0.5 %0.7 %
Average loans - GSBS$16.7 $15.2 $14.4 $13.4 $12.5 34 $15.0 $12.9 16 
Net write-off rate (principal only) - GSBS (K)0.5 %0.5 %0.6 %1.0 %1.9 %0.6 %2.1 %
Net write-off rate (principal, interest and fees) - GSBS (K)0.6 %0.6 %0.7 %1.2 %2.2 %0.8 %2.4 %
Net interest income divided by average Card Member loans (M)6.9 %7.0 %6.5 %6.5 %6.6 %6.7 %7.4 %
Net interest yield on average Card Member loans (M)8.5 %8.8 %8.3 %8.7 %9.0 %8.6 %9.8 %
Card Member receivables
Total receivables$31.3 $29.3 $27.7 $24.8 $25.0 25 $31.3 $25.0 25 
Net write-off rate (principal and fees) (K)(N)0.3 %0.2 %(0.2)%0.5 %1.1 %0.2 %2.1 %
Total receivables - GCP (O)$13.3 $12.5 $11.7 $10.5 $10.9 22 $13.3 $10.9 22 
90+ days past billing as a % of total - GCP (L)(O)0.3 %0.3 %0.3 %0.4 %0.6 %0.3 %0.6 %
Net write-off rate (principal and fees) - GCP (K)(N)(O)0.2 %0.2 %(0.9)%0.4 %0.7 %— %1.9 %
Total receivables - GSBS$18.0 $16.8 $15.9 $14.3 $14.1 28 $18.0 $14.1 28 
30+ days past due as a % of total - GSBS (L)0.7 %0.6 %0.5 %0.6 %0.7 %0.7 %0.7 %
Net write-off rate (principal only) - GSBS (K)0.3 %0.2 %0.2 %0.5 %1.3 %0.3 %2.1 %
Net write-off rate (principal and fees) - GSBS (K)0.4 %0.3 %0.3 %0.5 %1.4 %0.4 %2.3 %

# - Denotes a variance of 100 percent or more.



See Appendix IV for footnote references.
9


Global Merchant and Network Services(Preliminary)
Selected Income Statement and Statistical Information (P)             
(Millions, except percentages)                 

 Q4'21Q3'21Q2'21Q1'21Q4'20YOY % changeYTD'21YTD'20YOY % change
Non-interest revenues$1,419 $1,280 $1,204 $1,061 $1,086 31 $4,964 $4,143 20 
Interest income4 4 4 4 4 — 16 18 (11)
Interest expense(31)(24)(20)(17)(21)48 (92)(82)12 
Net interest income35 28 24 21 25 40 108 100 8 
Total revenues net of interest expense1,454 1,308 1,228 1,082 1,111 31 5,072 4,243 20 
Total provisions for credit losses— — (27)(10)12 #(37)87 #
Total revenues net of interest expense after provisions for credit losses1,454 1,308 1,255 1,092 1,099 32 5,109 4,156 23 
Expenses
Marketing, business development, and Card Member rewards and services430 375 373 300 330 30 1,478 1,130 31 
Salaries and employee benefits and other operating expenses516 404 355 407 493 5 1,682 1,711 (2)
Total expenses946 779 728 707 823 15 3,160 2,841 11 
Pretax segment income508 529 527 385 276 84 1,949 1,315 48 
(Billions)         
Segment assets$15.2 $14.2 $14.2 $13.6 $14.0 9 $15.2 $14.0 9 


# - Denotes a variance of 100 percent or more.


See Appendix IV for footnote references.
10




American Express Company(Preliminary)
Appendix I
Components of Return on Average Equity (ROE) and Return on Average Common Equity (ROCE)
(Millions, except percentages)

 For the Twelve Months Ended
Dec 31, 2021Sep 30, 2021Jun 30, 2021Mar 31, 2021Dec 31, 2020
ROE     
Net income$8,060 $7,779 $7,026 $5,003 $3,135 
Average shareholders' equity$23,910 $23,832 $23,071 $22,158 $22,002 
Return on average equity (D)33.7 %32.6 %30.5 %22.6 %14.2 %
Reconciliation of ROCE     
Net income$8,060 $7,779 $7,026 $5,003 $3,135 
Preferred shares dividends and equity related adjustments (S)87 72 59 61 79 
Earnings allocated to participating share awards and other56 54 47 33 20 
Net income attributable to common shareholders (S)$7,917 $7,653 $6,920 $4,909 $3,036 
Average shareholders' equity$23,910 $23,832 $23,071 $22,158 $22,002 
Average preferred shares (S)1,820 1,763 1,584 1,584 1,584 
Average common shareholders' equity$22,090 $22,069 $21,487 $20,574 $20,418 
Return on average common equity (D)35.8 %34.7 %32.2 %23.9 %14.9 %

See Appendix IV for footnote references.
11


American Express Company(Preliminary)
Appendix II  
Net Interest Yield on Average Card Member Loans 
(Millions, except percentages and where indicated) 

 Q4'21Q3'21Q2'21Q1'21Q4'20YTD'21YTD'20
Consolidated       
Net interest income$2,108 $1,994 $1,818 $1,830 $1,897 $7,750 $7,985 
Exclude:
Interest expense not attributable to our Card Member loan portfolio (T)135 172 195 236 254 738 1,295 
Interest income not attributable to our Card Member loan portfolio (U)(98)(92)(93)(96)(111)(379)(668)
Adjusted net interest income (V)$2,145 $2,074 $1,920 $1,970 $2,040 $8,109 $8,612 
Average Card Member loans (billions)$82.9 $76.4 $72.8 $70.7 $71.2 $76.0 $74.6 
Net interest income divided by average Card Member loans (W)10.2 %10.4 %10.0 %10.4 %10.7 %10.2 %10.7 %
Net interest yield on average Card Member loans (X)10.3 %10.8 %10.6 %11.3 %11.4 %10.7 %11.5 %
Global Consumer Services Group       
U.S.       
Net interest income$1,596 $1,524 $1,392 $1,421 $1,490 $5,933 $6,222 
Exclude:
Interest expense not attributable to our Card Member loan portfolio (T)23 31 44 60 64 158 288 
Interest income not attributable to our Card Member loan portfolio (U)(36)(27)(22)(25)(33)(110)(189)
Adjusted net interest income (V)$1,583 $1,528 $1,414 $1,456 $1,521 $5,981 $6,321 
Average Card Member loans (billions)$56.1 $52.3 $49.9 $49.0 $50.3 $52.0 $53.0 
Net interest income divided by average Card Member loans (W)11.4 %11.7 %11.2 %11.6 %11.8 %11.4 %11.7 %
Net interest yield on average Card Member loans (X)11.2 %11.6 %11.4 %12.1 %12.0 %11.5 %11.9 %
Outside the U.S.       
Net interest income$178 $181 $183 $199 $201 $741 $923 
Exclude:
Interest expense not attributable to our Card Member loan portfolio (T)27 29 26 26 34 108 105 
Interest income not attributable to our Card Member loan portfolio (U)(2)(2)(2)(2)(2)(8)(12)
Adjusted net interest income (V)$203 $208 $207 $223 $233 $841 $1,016 
Average Card Member loans (billions)$10.0 $8.9 $8.4 $8.3 $8.3 $9.0 $8.6 
Net interest income divided by average Card Member loans (W)7.1 %8.1 %8.7 %9.6 %9.7 %8.2 %10.7 %
Net interest yield on average Card Member loans (X)8.0 %9.3 %9.9 %10.9 %11.1 %9.4 %11.9 %
Total       
Net interest income$1,774 $1,705 $1,575 $1,620 $1,691 $6,674 $7,145 
Exclude:
Interest expense not attributable to our Card Member loan portfolio (T)50 60 70 86 98 266 393 
Interest income not attributable to our Card Member loan portfolio (U)(38)(29)(24)(27)(35)(118)(201)
Adjusted net interest income (V)$1,786 $1,736 $1,621 $1,679 $1,754 $6,822 $7,337 
Average Card Member loans (billions)$66.1 $61.2 $58.3 $57.3 $58.6 $61.0 $61.6 
Net interest income divided by average Card Member loans (W)10.7 %11.1 %10.8 %11.3 %11.5 %10.9 %11.6 %
Net interest yield on average Card Member loans (X)10.7 %11.3 %11.1 %11.9 %11.9 %11.2 %11.9 %
Global Commercial Services       
Net interest income$290 $267 $234 $220 $208 $1,011 $967 
Exclude:
Interest expense not attributable to our Card Member loan portfolio (T)86 88 87 93 103 354 478 
Interest income not attributable to our Card Member loan portfolio (U)(17)(17)(22)(22)(25)(78)(170)
Adjusted net interest income (V)$359 $338 $299 $291 $286 $1,287 $1,275 
Average Card Member loans (billions)$16.8 $15.2 $14.5 $13.5 $12.6 $15.0 $13.0 
Net interest income divided by average Card Member loans (W)6.9 %7.0 %6.5 %6.5 %6.6 %6.7 %7.4 %
Net interest yield on average Card Member loans (X)8.5 %8.8 %8.3 %8.7 %9.0 %8.6 %9.8 %













































See Appendix IV for footnote references.
12

American Express Company(Preliminary)
Appendix III
Card Member Receivables Net Write-offs Components
(Billions, except percentages and where indicated)

Q4'21Q3'21Q2'21Q1'21Q4'20YOY % changeYTD'21YTD'20YOY % change
Worldwide Card Member receivables
Net write-offs (millions)
Net write-offs (principal and fees) (K)$40 $32 $4 $53 $105 (62)$129 $881 (85)
Less: Net write-offs (principal and fees) - GCP (K)(N)(O)6 6 (24)10 18 (67)(2)226 #
Net write-offs (principal and fees) - GCSG and GSBS (K)$34 $26 $28 $43 $87 (61)$131 $655 (80)
Less: Net write-offs (fees only) - GCSG and GSBS (K)4 3 5 7 10 (60)19 62 (69)
Net write-offs (principal only) - GCSG and GSBS (K)$30 $23 $23 $36 $77 (61)$112 $593 (81)
Average Card Member receivables
Global Consumer Services Group (GCSG)$21.0 $19.8 $18.6 $17.1 $17.3 21 $19.2 $16.9 14 
Global Small Business Services (GSBS)17.5 16.5 15.2 14.0 14.4 22 15.8 14.8 7 
Average receivables (GCSG and GSBS)$38.5 $36.3 $33.8 $31.1 $31.7 21 $35.0 $31.7 10 
GCP (O)13.2 12.0 11.1 10.7 10.7 23 11.8 12.2 (3)
Total average receivables$51.7 $48.3 $44.9 $41.8 $42.4 22 $46.8 $43.9 7 
Net write-off rate (principal and fees) (K)0.3 %0.3 %— %0.5 %1.0 %0.3 %2.0 %
Net write-off rate (principal and fees) - GCSG and GSBS (K)0.4 %0.3 %0.3 %0.6 %1.1 %0.4 %2.1 %
Net write-off rate (principal only) - GCSG and GSBS (K)0.3 %0.2 %0.3 %0.5 %1.0 %0.3 %1.9 %

# - Denotes a variance of 100 percent or more.

See Appendix IV for footnote references.
13


Appendix IV
(Preliminary)

All Information in the preceding tables is presented on a basis prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), unless otherwise indicated. Certain reclassifications of prior period amounts have been made to conform to the current period presentation.
(A)Effective April 1, 2021, we prospectively changed the recognition of certain costs paid to a third party previously recognized over the twelve month card membership period in Net card fees in the Consolidated Statements of Income; such costs are now recorded as incurred in Marketing and business development expense. This change is not material to the Consolidated Financial Statements.
(B)Represents net income, less (i) earnings allocated to participating share awards of $11 million, $14 million, $16 million, $15 million and $9 million in Q4'21, Q3'21, Q2'21, Q1'21 and Q4'20, respectively; (ii) dividends on preferred shares of $22 million, $20 million, $15 million, $14 million and $14 million in Q4'21, Q3'21, Q2'21, Q1'21 and Q4'20, respectively; and (iii) equity-related adjustments of $7 million and $9 million in Q4'21 and Q3'21, respectively, related to the redemption of preferred shares. (refer to Footnote "S").
(C)Within assets, "other" includes the following items as presented in our Consolidated Balance Sheets: Other loans, less reserves for credit losses (including merchant financing loans and Paycheck Protection Program (PPP)), Premises and equipment and Other assets (including Other receivables); and within liabilities, "other" includes the following items: Accounts payable and Other liabilities.
(D)Return on average equity and return on average common equity are calculated for the relevant periods by dividing the preceding twelve months of net income by the one-year monthly average total shareholders' equity, and the preceding twelve months of net income attributable to common shareholders by the one-year monthly average common shareholders' equity, respectively. Refer to Appendix I for components of return on average equity and return on average common equity.
(E)Presented for the purpose of calculating the Tier 1 Leverage Ratio.
(F)Effective Q1'21, we changed the way we describe our volume metrics:
• Where we previously used the term “Billed Business” to describe our total volumes, we now use the term “Network Volumes.”
• Where we previously used the term “Proprietary Billed Business” to describe transaction volumes (including cash advances) from cards and other payment products issued by American Express, we now use the term “Billed Business.”
• Where we previously used the term “GNS Billed Business” to describe transaction volumes (including cash advances) from cards issued by GNS partners and joint ventures, we now use the term “Processed Volumes” and in order to provide a more complete view of transactions across our network we have now included in this category transactions associated with certain alternative payment solutions that were not previously reported in our volume metrics.

We believe that these changes provide better differentiation and descriptors for the volumes that run across the American Express network.
(G)Cards-in-force represent the number of cards that are issued and outstanding by American Express (proprietary cards-in-force) and cards issued and outstanding under network partnership agreements with banks and other institutions, including joint ventures (GNS cards-in-force) except for GNS retail cobrand cards that have no out of store spend activity during the prior 12 months. Basic cards-in-force excludes supplemental cards issued on consumer accounts. Cards-in-force is useful in understanding the size of our Card Member base.
(H)Average discount rate calculation is generally designed to reflect the average pricing at all merchants accepting American Express cards and represents the percentage of network volumes retained by us from spend at merchants we acquire, or from merchants acquired by third parties on our behalf, net of amounts retained by such third parties. The average discount rate, together with network volumes, drive our discount revenue.
(I)Average fee per card is computed based on proprietary net card fees divided by average proprietary total cards-in-force.
(J)Other includes foreign currency impact on balance sheet re-measurement and translation.
(K)We present a net write-off rate based on principal losses only (i.e., excluding interest and/or fees) to be consistent with industry convention. In addition, as our practice is to include uncollectible interest and/or fees as part of our total provision for credit losses, a net write-off rate including principal, interest and/or fees is also presented. We believe the net write-off rate, excluding GCP net write-offs, a non-GAAP measure, is useful to show the write-off rate based on principal losses only for the Card Member receivables portfolios for which data is available (i.e., Global Consumer and Global Small Business Services). See Appendix III for a reconciliation.
(L)Beginning Q1'20, we offered Customer Pandemic Relief programs to provide short-term support for customers impacted by COVID-19. These programs are no longer widely available and negligible balances remained in the programs as of December 31, 2021. Delinquency status is generally frozen at enrollment, and loans that are current at enrollment do not age, regardless of whether payment is made. Upon exiting the program, delinquency aging resumes where it had left off at enrollment.
(M)See Appendix II for calculations of net interest yield on average Card Member loans, a non-GAAP measure, and net interest income divided by average Card Member loans, a GAAP measure, and the Company's rationale for presenting net interest yield on average Card Member loans (refer to Footnotes "W" and "X").
(N)Q2'21 includes a $37 million partial recovery in Card Member receivables related to a corporate client bankruptcy, which had resulted in a $53 million write-off in the prior year in the Global Commercial Services (GCS) segment.
(O)GCP reflects global, large and middle market corporate accounts. GCP delinquency data for periods other than 90+ days past billing and the net write-off rate based on principal losses only are not available due to system constraints.
(P)As a result of organizational changes announced during the second quarter of 2021, our loyalty coalition business results, which were previously reported within the GMNS segment, are now reported within the GCSG segment. Prior period segment results have been revised to conform with current period presentation.
(Q)FX-adjusted information assumes a constant exchange rate between the periods being compared for purposes of currency translation into U.S. dollars (i.e., assumes the foreign exchange rates used to determine results for Q4'21 apply to the period(s) against which such results are being compared).
(R)Effective Q1'21, we renamed "Non T&E" to "Goods and services (G&S)" which includes spend in merchant categories other than T&E-related merchant categories.
(S)On August 3, 2021, we issued $1.6 billion of 3.550% Fixed Rate Reset Noncumulative Preferred Shares, Series D. With the proceeds from that issuance, we redeemed in full the $850 million of 4.900% Fixed Rate/Floating Rate Noncumulative Preferred Shares, Series C on September 15, 2021 and the $750 million of 5.200% Fixed Rate/Floating Rate Noncumulative Preferred Shares, Series B on November 15, 2021. The difference between the redemption value and carrying value of the redeemed Series B and C Preferred Shares resulted in reductions of $7 million and $9 million to net income available to common shareholders, in Q4'21 and Q3'21, respectively.
(T)Primarily represents interest expense attributable to maintaining our corporate liquidity pool and funding Card Member receivables.
(U)Primarily represents interest income attributable to Other loans, interest-bearing deposits and the fixed income investment portfolios.
(V)Adjusted net interest income is a non-GAAP measure that represents net interest income attributable to our Card Member loans (which includes, on a GAAP basis, interest that is deemed uncollectible), excluding the impact of interest expense and interest income not attributable to our Card Member loans. We believe adjusted net interest income is useful to investors because it represents the interest expense and interest income attributable to our Card Member loan portfolio and is a component of net interest yield on average Card Member loans, which provides a measure of profitability of our Card Member loan portfolio.
(W)Net interest income divided by average Card Member loans, computed on an annualized basis, a GAAP measure, includes elements of total interest income and total interest expense that are not attributable to the Card Member loan portfolio, and thus is not representative of net interest yield on average Card Member loans.
(X)Net interest yield on average Card Member loans is a non-GAAP measure that is computed by dividing adjusted net interest income by average Card Member loans, computed on an annualized basis. Reserves and net write-offs related to uncollectible interest are recorded through provisions for credit losses, and thus not included in the net interest yield calculation. We believe that net interest yield on average Card Member loans is useful to investors because it provides a measure of profitability of our Card Member loan portfolio.

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