(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||||||||||||||
(Address of principal executive offices) | (Zip Code) |
None |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
☑ | Accelerated filer | ☐ | |||||||||
Non-accelerated filer | ☐ | Smaller reporting company | |||||||||
Emerging growth company |
Class | Outstanding at July 14, 2025 | ||||||||||
Common Shares (par value $0.20 per share) | Shares |
Page No. | |||||||||||||||||
As of or for the Three Months Ended June 30, | Change 2025 vs. 2024 | As of or for the Six Months Ended June 30, | Change 2025 vs. 2024 | |||||||||||||||||||||||||||||||||||||||||||||||
(Millions, except percentages, per share amounts and where indicated) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||||||||
Selected Income Statement Data | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense | $ | 17,856 | $ | 16,333 | $ | 1,523 | 9 | % | $ | 34,823 | $ | 32,134 | $ | 2,689 | 8 | % | ||||||||||||||||||||||||||||||||||
Total revenues net of interest expense (FX-adjusted) (a) | 16,408 | 1,448 | 9 | 32,060 | 2,763 | 9 | ||||||||||||||||||||||||||||||||||||||||||||
Provisions for credit losses | 1,405 | 1,268 | 137 | 11 | 2,555 | 2,537 | 18 | 1 | ||||||||||||||||||||||||||||||||||||||||||
Total expenses | 12,901 | 11,275 | 1,626 | 14 | 25,388 | 22,662 | 2,726 | 12 | ||||||||||||||||||||||||||||||||||||||||||
Pretax income | 3,550 | 3,790 | (240) | (6) | 6,880 | 6,935 | (55) | (1) | ||||||||||||||||||||||||||||||||||||||||||
Income tax provision | 665 | 775 | (110) | (14) | 1,411 | 1,483 | (72) | (5) | ||||||||||||||||||||||||||||||||||||||||||
Net income | 2,885 | 3,015 | (130) | (4) | 5,469 | 5,452 | 17 | — | ||||||||||||||||||||||||||||||||||||||||||
Earnings per common share — diluted (b) | $ | 4.08 | $ | 4.15 | $ | (0.07) | (2) | % | $ | 7.71 | $ | 7.48 | $ | 0.23 | 3 | % | ||||||||||||||||||||||||||||||||||
Selected Balance Sheet Data | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 57,937 | $ | 52,895 | $ | 5,042 | 10 | % | $ | 57,937 | $ | 52,895 | $ | 5,042 | 10 | % | ||||||||||||||||||||||||||||||||||
Total loans and Card Member receivables (c) | 211,976 | 198,664 | 13,312 | 7 | 211,976 | 198,664 | 13,312 | 7 | ||||||||||||||||||||||||||||||||||||||||||
Total loans and Card Member receivables (FX-adjusted) (a)(c) | 200,044 | 11,932 | 6 | 200,044 | 11,932 | 6 | ||||||||||||||||||||||||||||||||||||||||||||
Customer deposits | 149,386 | 133,746 | 15,640 | 12 | 149,386 | 133,746 | 15,640 | 12 | ||||||||||||||||||||||||||||||||||||||||||
Long-term debt | $ | 58,202 | $ | 51,521 | $ | 6,681 | 13 | % | $ | 58,202 | $ | 51,521 | $ | 6,681 | 13 | % | ||||||||||||||||||||||||||||||||||
Common Share Statistics (d) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash dividends declared per common share | $ | 0.82 | $ | 0.70 | $ | 0.12 | 17 | % | $ | 1.64 | $ | 1.40 | $ | 0.24 | 17 | % | ||||||||||||||||||||||||||||||||||
Average common shares outstanding: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Basic | 698 | 716 | (18) | (3) | 700 | 718 | (18) | (3) | ||||||||||||||||||||||||||||||||||||||||||
Diluted | 699 | 717 | (18) | (3) | % | 701 | 719 | (18) | (3) | % | ||||||||||||||||||||||||||||||||||||||||
Selected Metrics and Ratios | ||||||||||||||||||||||||||||||||||||||||||||||||||
Network volumes (billions) | $ | 472.0 | $ | 440.6 | $ | 31 | 7 | % | $ | 911.6 | $ | 859.8 | $ | 52 | 6 | % | ||||||||||||||||||||||||||||||||||
Billed business (billions) | $ | 416.3 | $ | 388.2 | $ | 28 | 7 | % | $ | 803.7 | $ | 755.2 | $ | 49 | 6 | % | ||||||||||||||||||||||||||||||||||
Card Member loans and receivables | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net write-off rate — principal, interest and fees (e) | 2.2 | % | 2.4 | % | 2.3 | % | 2.4 | % | ||||||||||||||||||||||||||||||||||||||||||
Net write-off rate — principal only — consumer and small business (e)(f) | 2.0 | % | 2.1 | % | 2.1 | % | 2.1 | % | ||||||||||||||||||||||||||||||||||||||||||
30+ days past due as a % of total — consumer and small business (g) | 1.3 | % | 1.2 | % | 1.3 | % | 1.2 | % | ||||||||||||||||||||||||||||||||||||||||||
Effective tax rate | 18.7 | % | 20.4 | % | 20.5 | % | 21.4 | % | ||||||||||||||||||||||||||||||||||||||||||
Return on average equity (h) | 36.3 | % | 41.4 | % | 35.0 | % | 37.9 | % | ||||||||||||||||||||||||||||||||||||||||||
Common Equity Tier 1 | 10.6 | % | 10.8 | % | 10.6 | % | 10.8 | % | ||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Change 2025 vs. 2024 | Six Months Ended June 30, | Change 2025 vs. 2024 | |||||||||||||||||||||||||||||||||||||||||||||||
(Millions, except percentages) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||||||||
Discount revenue | $ | 9,361 | $ | 8,855 | $ | 506 | 6 | % | $ | 18,104 | $ | 17,235 | $ | 869 | 5 | % | ||||||||||||||||||||||||||||||||||
Net card fees | 2,480 | 2,060 | 420 | 20 | 4,813 | 4,034 | 779 | 19 | ||||||||||||||||||||||||||||||||||||||||||
Service fees and other revenue | 1,828 | 1,688 | 140 | 8 | 3,550 | 3,366 | 184 | 5 | ||||||||||||||||||||||||||||||||||||||||||
Total non-interest revenues | 13,669 | 12,603 | 1,066 | 8 | 26,467 | 24,635 | 1,832 | 7 | ||||||||||||||||||||||||||||||||||||||||||
Total interest income | 6,264 | 5,794 | 470 | 8 | 12,399 | 11,569 | 830 | 7 | ||||||||||||||||||||||||||||||||||||||||||
Total interest expense | 2,077 | 2,064 | 13 | 1 | 4,043 | 4,070 | (27) | (1) | ||||||||||||||||||||||||||||||||||||||||||
Net interest income | 4,187 | 3,730 | 457 | 12 | 8,356 | 7,499 | 857 | 11 | ||||||||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense | $ | 17,856 | $ | 16,333 | $ | 1,523 | 9 | % | $ | 34,823 | $ | 32,134 | $ | 2,689 | 8 | % | ||||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Change 2025 vs. 2024 | Six Months Ended June 30, | Change 2025 vs. 2024 | |||||||||||||||||||||||||||||||||||||||||||||||
(Millions, except percentages) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||||||||
Card Member loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net write-offs | $ | 938 | $ | 913 | $ | 25 | 3 | % | $ | 1,934 | $ | 1,768 | $ | 166 | 9 | % | ||||||||||||||||||||||||||||||||||
Reserve build (release) (a) | 156 | 57 | 99 | # | 61 | 216 | (155) | (72) | ||||||||||||||||||||||||||||||||||||||||||
Total | 1,094 | 970 | 124 | 13 | 1,995 | 1,984 | 11 | 1 | ||||||||||||||||||||||||||||||||||||||||||
Card Member receivables | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net write-offs | 184 | 205 | (21) | (10) | 353 | 422 | (69) | (16) | ||||||||||||||||||||||||||||||||||||||||||
Reserve build (release) (a) | 42 | 21 | 21 | # | 19 | — | 19 | — | ||||||||||||||||||||||||||||||||||||||||||
Total | 226 | 226 | — | — | 372 | 422 | (50) | (12) | ||||||||||||||||||||||||||||||||||||||||||
Other | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net write-offs — Other loans | 51 | 45 | 6 | 13 | 106 | 88 | 18 | 20 | ||||||||||||||||||||||||||||||||||||||||||
Net write-offs — Other receivables | 10 | 4 | 6 | # | 13 | 10 | 3 | 30 | ||||||||||||||||||||||||||||||||||||||||||
Reserve build (release) — Other loans (a) | 27 | 4 | 23 | # | 77 | 14 | 63 | # | ||||||||||||||||||||||||||||||||||||||||||
Reserve (release) build — Other receivables (a) | (3) | 19 | (22) | # | (8) | 19 | (27) | # | ||||||||||||||||||||||||||||||||||||||||||
Total | 85 | 72 | 13 | 18 | 188 | 131 | 57 | 44 | ||||||||||||||||||||||||||||||||||||||||||
Total provisions for credit losses | $ | 1,405 | $ | 1,268 | $ | 137 | 11 | % | $ | 2,555 | $ | 2,537 | $ | 18 | 1 | % | ||||||||||||||||||||||||||||||||||
# Denotes a variance of 100 percent or more |
Three Months Ended June 30, | Change 2025 vs. 2024 | Six Months Ended June 30, | Change 2025 vs. 2024 | |||||||||||||||||||||||||||||||||||||||||||||||
(Millions, except percentages) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||||||||
Card Member rewards | $ | 4,618 | $ | 4,227 | $ | 391 | 9 | % | $ | 8,996 | $ | 8,001 | $ | 995 | 12 | % | ||||||||||||||||||||||||||||||||||
Business development | 1,589 | 1,427 | 162 | 11 | 3,118 | 2,819 | 299 | 11 | ||||||||||||||||||||||||||||||||||||||||||
Card Member services | 1,301 | 1,154 | 147 | 13 | 2,629 | 2,325 | 304 | 13 | ||||||||||||||||||||||||||||||||||||||||||
Marketing | 1,555 | 1,480 | 75 | 5 | 3,041 | 2,956 | 85 | 3 | ||||||||||||||||||||||||||||||||||||||||||
Salaries and employee benefits | 2,152 | 1,949 | 203 | 10 | 4,272 | 4,047 | 225 | 6 | ||||||||||||||||||||||||||||||||||||||||||
Other, net | 1,686 | 1,038 | 648 | 62 | 3,332 | 2,514 | 818 | 33 | ||||||||||||||||||||||||||||||||||||||||||
Total expenses | $ | 12,901 | $ | 11,275 | $ | 1,626 | 14 | % | $ | 25,388 | $ | 22,662 | $ | 2,726 | 12 | % | ||||||||||||||||||||||||||||||||||
As of or for the Three Months Ended June 30, | Change 2025 vs. 2024 | As of or for the Six Months Ended June 30, | Change 2025 vs. 2024 | |||||||||||||||||||||||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||||||||||||||
Network volumes (billions) | $ | 472.0 | $ | 440.6 | 7 | % | $ | 911.6 | $ | 859.8 | 6 | % | ||||||||||||||||||||||||||
Billed business | $ | 416.3 | $ | 388.2 | 7 | $ | 803.7 | $ | 755.2 | 6 | ||||||||||||||||||||||||||||
Cards-in-force (millions) | 149.4 | 144.3 | 4 | 149.4 | 144.3 | 4 | ||||||||||||||||||||||||||||||||
Proprietary cards-in-force | 85.2 | 82.1 | 4 | 85.2 | 82.1 | 4 | ||||||||||||||||||||||||||||||||
Basic cards-in-force (millions) | 126.0 | 121.4 | 4 | 126.0 | 121.4 | 4 | ||||||||||||||||||||||||||||||||
Proprietary basic cards-in-force | 65.6 | 63.1 | 4 | 65.6 | 63.1 | 4 | ||||||||||||||||||||||||||||||||
Average proprietary basic Card Member spending (dollars) | $ | 6,370 | $ | 6,192 | 3 | $ | 12,362 | $ | 12,112 | 2 | ||||||||||||||||||||||||||||
Average fee per card (dollars) (a) | $ | 117 | $ | 101 | 16 | % | $ | 114 | $ | 99 | 15 | % | ||||||||||||||||||||||||||
Proprietary new cards acquired (millions) | 3.1 | 3.3 | 6.4 | 6.7 | ||||||||||||||||||||||||||||||||||
Discount revenue as a % of Billed business | 2.25 | % | 2.28 | % | 2.25 | % | 2.28 | % | ||||||||||||||||||||||||||||||
Three Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | |||||||||||||||||||||||||
Year over Year Percentage Increase (Decrease) | Year over Year Percentage Increase (Decrease) Assuming No Changes in FX Rates (a) | Year over Year Percentage Increase (Decrease) | Year over Year Percentage Increase (Decrease) Assuming No Changes in FX Rates (a) | |||||||||||||||||||||||
Network volumes | 7 | % | 6 | % | 6 | % | 6 | % | ||||||||||||||||||
Total billed business | 7 | 7 | 6 | 7 | ||||||||||||||||||||||
U.S. Consumer Services | 7 | 7 | ||||||||||||||||||||||||
Commercial Services | 2 | 2 | 2 | 2 | ||||||||||||||||||||||
International Card Services | 15 | 12 | 12 | 12 | ||||||||||||||||||||||
Merchant industry billed business metrics | ||||||||||||||||||||||||||
G&S spend (73% and 72% of billed business for the three and six months ended June 30, 2025, respectively) | 8 | 7 | 7 | 7 | ||||||||||||||||||||||
T&E spend (27% and 28% of billed business for the three and six months ended June 30, 2025, respectively) | 6 | % | 5 | % | 5 | % | 6 | % | ||||||||||||||||||
As of or for the Three Months Ended June 30, | Change 2025 vs. 2024 | As of or for the Six Months Ended June 30, | Change 2025 vs. 2024 | |||||||||||||||||||||||||||||||||||
(Millions, except percentages) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||||||||||||||
Card Member loans and receivables: | ||||||||||||||||||||||||||||||||||||||
Net write-off rate — principal, interest and fees (a) | 2.2 | % | 2.4 | % | 2.3 | % | 2.4 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only — consumer and small business (a)(b) | 2.0 | % | 2.1 | % | 2.1 | % | 2.1 | % | ||||||||||||||||||||||||||||||
30+ days past due as a % of total — consumer and small business (c) | 1.3 | % | 1.2 | % | 1.3 | % | 1.2 | % | ||||||||||||||||||||||||||||||
Card Member loans: | ||||||||||||||||||||||||||||||||||||||
Card Member loans | $ | 142,275 | $ | 130,851 | 9 | % | $ | 142,275 | $ | 130,851 | 9 | % | ||||||||||||||||||||||||||
Credit loss reserves: | ||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 5,592 | $ | 5,271 | 6 | $ | 5,679 | $ | 5,118 | 11 | ||||||||||||||||||||||||||||
Provisions — principal, interest and fees | 1,094 | 970 | 13 | 1,995 | 1,984 | 1 | ||||||||||||||||||||||||||||||||
Net write-offs — principal less recoveries | (771) | (753) | 2 | (1,589) | (1,458) | 9 | ||||||||||||||||||||||||||||||||
Net write-offs — interest and fees less recoveries | (167) | (160) | 4 | (345) | (310) | 11 | ||||||||||||||||||||||||||||||||
Other (d) | 19 | (7) | # | 27 | (13) | # | ||||||||||||||||||||||||||||||||
Ending balance | $ | 5,767 | $ | 5,321 | 8 | $ | 5,767 | $ | 5,321 | 8 | ||||||||||||||||||||||||||||
% of loans | 4.1 | % | 4.1 | % | 4.1 | % | 4.1 | % | ||||||||||||||||||||||||||||||
% of past due | 295 | % | 312 | % | 295 | % | 312 | % | ||||||||||||||||||||||||||||||
Average loans | $ | 141,412 | $ | 128,321 | 10 | $ | 139,604 | $ | 126,507 | 10 | ||||||||||||||||||||||||||||
Net write-off rate — principal, interest and fees (a) | 2.7 | % | 2.8 | % | 2.8 | % | 2.8 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only (a) | 2.2 | % | 2.3 | % | 2.3 | % | 2.3 | % | ||||||||||||||||||||||||||||||
30+ days past due as a % of total | 1.4 | % | 1.3 | % | 1.4 | % | 1.3 | % | ||||||||||||||||||||||||||||||
Card Member receivables: | ||||||||||||||||||||||||||||||||||||||
Card Member receivables | $ | 59,598 | $ | 59,656 | — | $ | 59,598 | $ | 59,656 | — | ||||||||||||||||||||||||||||
Credit loss reserves: | ||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 148 | $ | 151 | (2) | $ | 171 | $ | 174 | (2) | ||||||||||||||||||||||||||||
Provisions — principal and fees | 226 | 226 | — | 372 | 422 | (12) | ||||||||||||||||||||||||||||||||
Net write-offs — principal and fees less recoveries | (184) | (205) | (10) | (353) | (422) | (16) | ||||||||||||||||||||||||||||||||
Other (d) | 3 | (1) | # | 3 | (3) | # | ||||||||||||||||||||||||||||||||
Ending balance | $ | 193 | $ | 171 | 13 | % | $ | 193 | $ | 171 | 13 | % | ||||||||||||||||||||||||||
% of receivables | 0.3 | % | 0.3 | % | 0.3 | % | 0.3 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal and fees (a) | 1.2 | % | 1.4 | % | 1.2 | % | 1.5 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only — consumer and small business (a)(b) | 1.4 | % | 1.5 | % | 1.3 | % | 1.6 | % | ||||||||||||||||||||||||||||||
30+ days past due as a % of total — consumer and small business (c) | 0.9 | % | 0.9 | % | 0.9 | % | 0.9 | % | ||||||||||||||||||||||||||||||
# Denotes a variance of 100 percent or more |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
(Millions, except percentages) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
Net interest income | $ | 4,187 | $ | 3,730 | $ | 8,356 | $ | 7,499 | ||||||||||||||||||
Exclude: | ||||||||||||||||||||||||||
Interest expense not attributable to our Card Member loan portfolio (a) | 918 | 912 | 1,769 | 1,794 | ||||||||||||||||||||||
Interest income not attributable to our Card Member loan portfolio (b) | (895) | (920) | (1,746) | (1,836) | ||||||||||||||||||||||
Adjusted net interest income (c) | $ | 4,210 | $ | 3,722 | $ | 8,379 | $ | 7,457 | ||||||||||||||||||
Average Card Member loans including loans held for sale (d) | $ | 142,603 | $ | 128,321 | $ | 140,608 | $ | 126,507 | ||||||||||||||||||
Net interest income divided by average Card Member loans (c) | 11.8 | % | 11.7 | % | 12.0 | % | 11.9 | % | ||||||||||||||||||
Net interest yield on average Card Member loans (c) | 11.8 | % | 11.7 | % | 12.0 | % | 11.9 | % |
Three Months Ended June 30, | Change | Six Months Ended June 30, | Change | |||||||||||||||||||||||||||||||||||||||||||||||
(Millions, except percentages) | 2025 | 2024 | 2025 vs. 2024 | 2025 | 2024 | 2025 vs. 2024 | ||||||||||||||||||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||||||||||||||||||||||||
Non-interest revenues | $ | 5,540 | $ | 5,029 | $ | 511 | 10 | % | $ | 10,783 | $ | 9,795 | $ | 988 | 10 | % | ||||||||||||||||||||||||||||||||||
Interest income | 3,795 | 3,474 | 321 | 9 | 7,558 | 6,955 | 603 | 9 | ||||||||||||||||||||||||||||||||||||||||||
Interest expense | 782 | 771 | 11 | 1 | 1,539 | 1,519 | 20 | 1 | ||||||||||||||||||||||||||||||||||||||||||
Net interest income | 3,013 | 2,703 | 310 | 11 | 6,019 | 5,436 | 583 | 11 | ||||||||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense | 8,553 | 7,732 | 821 | 11 | 16,802 | 15,231 | 1,571 | 10 | ||||||||||||||||||||||||||||||||||||||||||
Provisions for credit losses | 829 | 706 | 123 | 17 | 1,460 | 1,433 | 27 | 2 | ||||||||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense after provisions for credit losses | 7,724 | 7,026 | 698 | 10 | 15,342 | 13,798 | 1,544 | 11 | ||||||||||||||||||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||||||||||||||||
Card Member rewards, business development and Card Member services | 3,967 | 3,587 | 380 | 11 | 7,849 | 6,943 | 906 | 13 | ||||||||||||||||||||||||||||||||||||||||||
Marketing | 800 | 764 | 36 | 5 | 1,565 | 1,483 | 82 | 6 | ||||||||||||||||||||||||||||||||||||||||||
Salaries and employee benefits and other operating expenses | 1,281 | 1,115 | 166 | 15 | 2,520 | 2,199 | 321 | 15 | ||||||||||||||||||||||||||||||||||||||||||
Total expenses | 6,048 | 5,466 | 582 | 11 | 11,934 | 10,625 | 1,309 | 12 | ||||||||||||||||||||||||||||||||||||||||||
Pretax segment income | $ | 1,676 | $ | 1,560 | $ | 116 | 7 | % | $ | 3,408 | $ | 3,173 | $ | 235 | 7 | % | ||||||||||||||||||||||||||||||||||
As of or for the Three Months Ended June 30, | Change 2025 vs. 2024 | As of or for the Six Months Ended June 30, | Change 2025 vs. 2024 | |||||||||||||||||||||||||||||||||||
(Millions, except percentages and where indicated) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||||||||||||||
Billed business (billions) | $ | 176.5 | $ | 165.1 | 7 | % | $ | 340.8 | $ | 318.5 | 7 | % | ||||||||||||||||||||||||||
Proprietary cards-in-force | 47.3 | 45.2 | 5 | 47.3 | 45.2 | 5 | ||||||||||||||||||||||||||||||||
Proprietary basic cards-in-force | 33.4 | 31.7 | 5 | 33.4 | 31.7 | 5 | ||||||||||||||||||||||||||||||||
Average proprietary basic Card Member spending (dollars) | $ | 5,322 | $ | 5,258 | 1 | $ | 10,341 | $ | 10,220 | 1 | ||||||||||||||||||||||||||||
Total segment assets | $ | 113,876 | $ | 108,224 | 5 | $ | 113,876 | $ | 108,224 | 5 | ||||||||||||||||||||||||||||
Card Member loans: | ||||||||||||||||||||||||||||||||||||||
Total loans | $ | 92,620 | $ | 84,958 | 9 | $ | 92,620 | $ | 84,958 | 9 | ||||||||||||||||||||||||||||
Average loans | $ | 91,339 | $ | 83,452 | 9 | $ | 90,745 | $ | 82,648 | 10 | ||||||||||||||||||||||||||||
Net write-off rate — principal, interest and fees (a) | 2.6 | % | 2.9 | % | 2.8 | % | 2.9 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only (a) | 2.1 | % | 2.4 | % | 2.2 | % | 2.3 | % | ||||||||||||||||||||||||||||||
30+ days past due as a % of total | 1.3 | % | 1.3 | % | 1.3 | % | 1.3 | % | ||||||||||||||||||||||||||||||
Calculation of Net Interest Yield on Average Card Member Loans: | ||||||||||||||||||||||||||||||||||||||
Net interest income | $ | 3,013 | $ | 2,703 | $ | 6,019 | $ | 5,436 | ||||||||||||||||||||||||||||||
Exclude: | ||||||||||||||||||||||||||||||||||||||
Interest expense not attributable to our Card Member loan portfolio (b) | 70 | 44 | 134 | 80 | ||||||||||||||||||||||||||||||||||
Interest income not attributable to our Card Member loan portfolio (c) | (186) | (132) | (363) | (254) | ||||||||||||||||||||||||||||||||||
Adjusted net interest income (d) | $ | 2,897 | $ | 2,615 | $ | 5,790 | $ | 5,262 | ||||||||||||||||||||||||||||||
Average Card Member loans | $ | 91,339 | $ | 83,452 | $ | 90,745 | $ | 82,648 | ||||||||||||||||||||||||||||||
Net interest income divided by average Card Member loans (d) | 13.2 | % | 13.0 | % | 13.4 | % | 13.2 | % | ||||||||||||||||||||||||||||||
Net interest yield on average Card Member loans (d) | 12.7 | % | 12.6 | % | 12.9 | % | 12.8 | % | ||||||||||||||||||||||||||||||
Card Member receivables: | ||||||||||||||||||||||||||||||||||||||
Total receivables | $ | 13,164 | $ | 13,796 | (5) | % | $ | 13,164 | $ | 13,796 | (5) | % | ||||||||||||||||||||||||||
Net write-off rate — principal and fees (a) | 0.8 | % | 1.2 | % | 0.8 | % | 1.3 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only (a) | 0.7 | % | 1.1 | % | 0.7 | % | 1.2 | % | ||||||||||||||||||||||||||||||
30+ days past due as a % of total | 0.7 | % | 0.7 | % | 0.7 | % | 0.7 | % | ||||||||||||||||||||||||||||||
Three Months Ended June 30, | Change 2025 vs. 2024 | Six Months Ended June 30, | Change 2025 vs. 2024 | |||||||||||||||||||||||||||||||||||||||||||||||
(Millions, except percentages) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||||||||||||||||||||||||
Non-interest revenues | $ | 3,422 | $ | 3,333 | $ | 89 | 3 | % | $ | 6,687 | $ | 6,527 | $ | 160 | 2 | % | ||||||||||||||||||||||||||||||||||
Interest income | 1,240 | 1,051 | 189 | 18 | 2,442 | 2,056 | 386 | 19 | ||||||||||||||||||||||||||||||||||||||||||
Interest expense | 450 | 430 | 20 | 5 | 882 | 844 | 38 | 5 | ||||||||||||||||||||||||||||||||||||||||||
Net interest income | 790 | 621 | 169 | 27 | 1,560 | 1,212 | 348 | 29 | ||||||||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense | 4,212 | 3,954 | 258 | 7 | 8,247 | 7,739 | 508 | 7 | ||||||||||||||||||||||||||||||||||||||||||
Provisions for credit losses | 360 | 349 | 11 | 3 | 689 | 704 | (15) | (2) | ||||||||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense after provisions for credit losses | 3,852 | 3,605 | 247 | 7 | 7,558 | 7,035 | 523 | 7 | ||||||||||||||||||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||||||||||||||||
Card Member rewards, business development and Card Member services | 1,790 | 1,633 | 157 | 10 | 3,536 | 3,126 | 410 | 13 | ||||||||||||||||||||||||||||||||||||||||||
Marketing | 331 | 325 | 6 | 2 | 668 | 651 | 17 | 3 | ||||||||||||||||||||||||||||||||||||||||||
Salaries and employee benefits and other operating expenses | 826 | 742 | 84 | 11 | 1,613 | 1,475 | 138 | 9 | ||||||||||||||||||||||||||||||||||||||||||
Total expenses | 2,947 | 2,700 | 247 | 9 | 5,817 | 5,252 | 565 | 11 | ||||||||||||||||||||||||||||||||||||||||||
Pretax segment income | $ | 905 | $ | 905 | $ | — | — | % | $ | 1,741 | $ | 1,783 | $ | (42) | (2) | % | ||||||||||||||||||||||||||||||||||
As of or for the Three Months Ended June 30, | Change 2025 vs 2024 | As of or for the Six Months Ended June 30, | Change 2025 vs 2024 | |||||||||||||||||||||||||||||||||||
(Millions, except percentages and where indicated) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||||||||||||||
Billed business (billions) | $ | 135.5 | $ | 132.3 | 2 | % | $ | 264.7 | $ | 259.5 | 2 | % | ||||||||||||||||||||||||||
Proprietary cards-in-force | 15.4 | 15.4 | — | 15.4 | 15.4 | — | ||||||||||||||||||||||||||||||||
Average Card Member spending (dollars) | $ | 8,782 | $ | 8,588 | 2 | $ | 17,165 | $ | 16,845 | 2 | ||||||||||||||||||||||||||||
Total segment assets | $ | 62,152 | $ | 58,993 | 5 | $ | 62,152 | $ | 58,993 | 5 | ||||||||||||||||||||||||||||
Card Member loans: | ||||||||||||||||||||||||||||||||||||||
Total loans | $ | 30,143 | $ | 28,621 | 5 | $ | 30,143 | $ | 28,621 | 5 | ||||||||||||||||||||||||||||
Average loans | $ | 31,253 | $ | 28,031 | 11 | $ | 30,714 | $ | 27,243 | 13 | ||||||||||||||||||||||||||||
Net write-off rate — principal, interest and fees (a) | 2.9 | % | 2.7 | % | 3.0 | % | 2.7 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only (a) | 2.5 | % | 2.3 | % | 2.5 | % | 2.3 | % | ||||||||||||||||||||||||||||||
30+ days past due as a % of total | 1.6 | % | 1.4 | % | 1.6 | % | 1.4 | % | ||||||||||||||||||||||||||||||
Calculation of Net Interest Yield on Average Card Member Loans: | ||||||||||||||||||||||||||||||||||||||
Net interest income | $ | 790 | $ | 621 | $ | 1,560 | $ | 1,212 | ||||||||||||||||||||||||||||||
Exclude: | ||||||||||||||||||||||||||||||||||||||
Interest expense not attributable to our Card Member loan portfolio (b) | 200 | 190 | 392 | 374 | ||||||||||||||||||||||||||||||||||
Interest income not attributable to our Card Member loan portfolio (c) | (91) | (81) | (179) | (155) | ||||||||||||||||||||||||||||||||||
Adjusted net interest income (d) | $ | 899 | $ | 730 | $ | 1,773 | $ | 1,431 | ||||||||||||||||||||||||||||||
Average Card Member loans including loans held for sale (e) | $ | 32,443 | $ | 28,031 | $ | 31,718 | $ | 27,243 | ||||||||||||||||||||||||||||||
Net interest income divided by average Card Member loans (d) | 9.8 | % | 8.9 | % | 9.9 | % | 8.9 | % | ||||||||||||||||||||||||||||||
Net interest yield on average Card Member loans (d) | 11.1 | % | 10.5 | % | 11.3 | % | 10.6 | % | ||||||||||||||||||||||||||||||
Card Member receivables: | ||||||||||||||||||||||||||||||||||||||
Total receivables | $ | 24,955 | $ | 26,737 | (7) | % | $ | 24,955 | $ | 26,737 | (7) | % | ||||||||||||||||||||||||||
Net write-off rate — principal and fees (f) | 1.2 | % | 1.4 | % | 1.3 | % | 1.4 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only (a) — small business | 1.9 | % | 2.0 | % | 1.9 | % | 2.0 | % | ||||||||||||||||||||||||||||||
30+ days past due as a % of total — small business | 1.2 | % | 1.2 | % | 1.2 | % | 1.2 | % | ||||||||||||||||||||||||||||||
90+ days past billing as a % of total (f) — corporate | 0.4 | % | 0.4 | % | 0.4 | % | 0.4 | % | ||||||||||||||||||||||||||||||
Three Months Ended June 30, | Change | Six Months Ended June 30, | Change | |||||||||||||||||||||||||||||||||||||||||||||||
(Millions, except percentages) | 2025 | 2024 | 2025 vs. 2024 | 2025 | 2024 | 2025 vs. 2024 | ||||||||||||||||||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||||||||||||||||||||||||
Non-interest revenues | $ | 2,947 | $ | 2,548 | $ | 399 | 16 | % | $ | 5,593 | $ | 4,985 | $ | 608 | 12 | % | ||||||||||||||||||||||||||||||||||
Interest income | 620 | 577 | 43 | 7 | 1,216 | 1,160 | 56 | 5 | ||||||||||||||||||||||||||||||||||||||||||
Interest expense | 335 | 303 | 32 | 11 | 641 | 610 | 31 | 5 | ||||||||||||||||||||||||||||||||||||||||||
Net interest income | 285 | 274 | 11 | 4 | 575 | 550 | 25 | 5 | ||||||||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense | 3,232 | 2,822 | 410 | 15 | 6,168 | 5,535 | 633 | 11 | ||||||||||||||||||||||||||||||||||||||||||
Provisions for credit losses | 210 | 192 | 18 | 9 | 402 | 374 | 28 | 7 | ||||||||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense after provisions for credit losses | 3,022 | 2,630 | 392 | 15 | 5,766 | 5,161 | 605 | 12 | ||||||||||||||||||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||||||||||||||||
Card Member rewards, business development and Card Member services | 1,452 | 1,302 | 150 | 12 | 2,764 | 2,505 | 259 | 10 | ||||||||||||||||||||||||||||||||||||||||||
Marketing | 322 | 290 | 32 | 11 | 622 | 642 | (20) | (3) | ||||||||||||||||||||||||||||||||||||||||||
Salaries and employee benefits and other operating expenses | 783 | 748 | 35 | 5 | 1,534 | 1,472 | 62 | 4 | ||||||||||||||||||||||||||||||||||||||||||
Total expenses | 2,557 | 2,340 | 217 | 9 | 4,920 | 4,619 | 301 | 7 | ||||||||||||||||||||||||||||||||||||||||||
Pretax segment income | $ | 465 | $ | 290 | $ | 175 | 60 | % | $ | 846 | $ | 542 | $ | 304 | 56 | % | ||||||||||||||||||||||||||||||||||
As of or for the Three Months Ended June 30, | Change 2025 vs. 2024 | As of or for the Six Months Ended June 30, | Change 2025 vs. 2024 | |||||||||||||||||||||||||||||||||||
(Millions, except percentages and where indicated) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||||||||||||||
Billed business (billions) | $ | 103.9 | $ | 90.2 | 15 | % | $ | 196.7 | $ | 175.6 | 12 | % | ||||||||||||||||||||||||||
Proprietary cards-in-force | 22.5 | 21.5 | 5 | 22.5 | 21.5 | 5 | ||||||||||||||||||||||||||||||||
Proprietary basic cards-in-force | 16.9 | 16.0 | 6 | 16.9 | 16.0 | 6 | ||||||||||||||||||||||||||||||||
Average proprietary basic Card Member spending (dollars) | $ | 6,197 | $ | 5,681 | 9 | $ | 11,823 | $ | 11,122 | 6 | ||||||||||||||||||||||||||||
Total segment assets | $ | 46,500 | $ | 41,982 | 11 | $ | 46,500 | $ | 41,982 | 11 | ||||||||||||||||||||||||||||
Card Member loans — consumer and small business: | ||||||||||||||||||||||||||||||||||||||
Total loans | $ | 19,512 | $ | 17,272 | 13 | $ | 19,512 | $ | 17,272 | 13 | ||||||||||||||||||||||||||||
Average loans | $ | 18,820 | $ | 16,838 | 12 | $ | 18,145 | $ | 16,616 | 9 | ||||||||||||||||||||||||||||
Net write-off rate — principal, interest and fees (a) | 2.5 | % | 2.5 | % | 2.4 | % | 2.6 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only (a) | 2.1 | % | 2.1 | % | 2.0 | % | 2.1 | % | ||||||||||||||||||||||||||||||
30+ days past due as a % of total | 1.2 | % | 1.2 | % | 1.2 | % | 1.2 | % | ||||||||||||||||||||||||||||||
Calculation of Net Interest Yield on Average Card Member Loans: | ||||||||||||||||||||||||||||||||||||||
Net interest income | $ | 285 | $ | 274 | $ | 575 | $ | 550 | ||||||||||||||||||||||||||||||
Exclude: | ||||||||||||||||||||||||||||||||||||||
Interest expense not attributable to our Card Member loan portfolio (b) | 140 | 118 | 263 | 244 | ||||||||||||||||||||||||||||||||||
Interest income not attributable to our Card Member loan portfolio (c) | (11) | (15) | (22) | (30) | ||||||||||||||||||||||||||||||||||
Adjusted net interest income (d) | $ | 414 | $ | 377 | $ | 816 | $ | 764 | ||||||||||||||||||||||||||||||
Average Card Member loans | $ | 18,820 | $ | 16,838 | $ | 18,145 | $ | 16,616 | ||||||||||||||||||||||||||||||
Net interest income divided by average Card Member loans (d) | 6.1 | % | 6.5 | % | 6.4 | % | 6.7 | % | ||||||||||||||||||||||||||||||
Net interest yield on average Card Member loans (d) | 8.8 | % | 9.0 | % | 9.1 | % | 9.3 | % | ||||||||||||||||||||||||||||||
Card Member receivables: | ||||||||||||||||||||||||||||||||||||||
Total receivables | $ | 21,479 | $ | 19,123 | 12 | % | $ | 21,479 | $ | 19,123 | 12 | % | ||||||||||||||||||||||||||
Net write-off rate — principal and fees (e) | 1.5 | % | 1.5 | % | 1.4 | % | 1.6 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only (a) — consumer and small business | 1.5 | % | 1.6 | % | 1.4 | % | 1.6 | % | ||||||||||||||||||||||||||||||
30+ days past due as a % of total — consumer and small business | 1.0 | % | 0.9 | % | 1.0 | % | 0.9 | % | ||||||||||||||||||||||||||||||
90+ days past billing as a % of total (e) — corporate | 0.4 | % | 0.4 | % | 0.4 | % | 0.4 | % | ||||||||||||||||||||||||||||||
Three Months Ended June 30, | Change 2025 vs. 2024 | Six Months Ended June 30, | Change 2025 vs. 2024 | |||||||||||||||||||||||||||||||||||||||||||||||
(Millions, except percentages and where indicated) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||||||||||||||||||||||||
Non-interest revenues | $ | 1,758 | $ | 1,684 | $ | 74 | 4 | % | $ | 3,418 | $ | 3,339 | $ | 79 | 2 | % | ||||||||||||||||||||||||||||||||||
Interest income | 10 | 13 | (3) | (23) | 22 | 30 | (8) | (27) | ||||||||||||||||||||||||||||||||||||||||||
Interest expense | (165) | (176) | 11 | 6 | (308) | (374) | 66 | 18 | ||||||||||||||||||||||||||||||||||||||||||
Net interest income | 175 | 189 | (14) | (7) | 330 | 404 | (74) | (18) | ||||||||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense | 1,933 | 1,873 | 60 | 3 | 3,748 | 3,743 | 5 | — | ||||||||||||||||||||||||||||||||||||||||||
Provisions for credit losses | 5 | 20 | (15) | (75) | 3 | 26 | (23) | (88) | ||||||||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense after provisions for credit losses | 1,928 | 1,853 | 75 | 4 | 3,745 | 3,717 | 28 | 1 | ||||||||||||||||||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||||||||||||||||
Business development and Card Member services | 288 | 278 | 10 | 4 | 571 | 557 | 14 | 3 | ||||||||||||||||||||||||||||||||||||||||||
Marketing | 96 | 96 | — | — | 172 | 169 | 3 | 2 | ||||||||||||||||||||||||||||||||||||||||||
Salaries and employee benefits and other operating expenses | 490 | (58) | 548 | # | 958 | 437 | 521 | # | ||||||||||||||||||||||||||||||||||||||||||
Total expenses | 874 | 316 | 558 | # | 1,701 | 1,163 | 538 | 46 | ||||||||||||||||||||||||||||||||||||||||||
Pretax segment income | 1,054 | 1,537 | (483) | (31) | 2,044 | 2,554 | (510) | (20) | ||||||||||||||||||||||||||||||||||||||||||
Network volumes (billions) | 472.0 | 440.6 | $ | 31 | 7 | 911.6 | 859.8 | $ | 52 | 6 | ||||||||||||||||||||||||||||||||||||||||
Total segment assets | $ | 18,324 | $ | 24,446 | (25) | % | $ | 18,324 | $ | 24,446 | (25) | % | ||||||||||||||||||||||||||||||||||||||
# Denotes a variance of 100 percent or more |
Effective Minimum (a) | Ratios as of June 30, 2025 | |||||||||||||
Risk-Based Capital | ||||||||||||||
Common Equity Tier 1 | 7.0 | % | ||||||||||||
American Express Company | 10.6 | % | ||||||||||||
American Express National Bank | 11.1 | |||||||||||||
Tier 1 | 8.5 | |||||||||||||
American Express Company | 11.3 | |||||||||||||
American Express National Bank | 11.1 | |||||||||||||
Total | 10.5 | |||||||||||||
American Express Company | 13.2 | |||||||||||||
American Express National Bank | 13.3 | |||||||||||||
Tier 1 Leverage | 4.0 | |||||||||||||
American Express Company | 9.7 | |||||||||||||
American Express National Bank | 8.7 | |||||||||||||
Supplementary Leverage Ratio | 3.0 | % | ||||||||||||
American Express Company | 8.3 | |||||||||||||
American Express National Bank | 7.4 | % |
American Express Company ($ in Billions) | June 30, 2025 | |||||||
Risk-Based Capital | ||||||||
Common Equity Tier 1 | $ | 26.1 | ||||||
Tier 1 Capital | 27.8 | |||||||
Tier 2 Capital | 4.8 | |||||||
Total Capital | 32.6 | |||||||
Risk-Weighted Assets | 246.1 | |||||||
Average Total Assets to calculate the Tier 1 Leverage Ratio | 285.2 | |||||||
Total Leverage Exposure to calculate the Supplementary Leverage Ratio | $ | 335.7 |
(Billions) | June 30, 2025 | December 31, 2024 | ||||||||||||
Customer deposits | $ | 149.4 | $ | 139.4 | ||||||||||
Short-term borrowings | 1.5 | 1.4 | ||||||||||||
Long-term debt | 58.2 | 49.7 | ||||||||||||
Total customer deposits and debt | $ | 209.1 | $ | 190.5 |
($ in Billions) | Three Months Ended June 30, 2025 | |||||||
American Express Company: | ||||||||
USD Floating Rate Senior Notes (compounded SOFR(a) plus 126 basis points) | $ | 0.4 | ||||||
USD Fixed-to-Floating Rate Senior Notes (weighted-average coupon of 5.13% during the fixed rate period and compounded SOFR(a) plus weighted-average spread of 149 basis points during the floating rate period) | 4.6 | |||||||
EUR Fixed-to-Floating Rate Senior Notes (coupon of 3.43% during the fixed rate period and 3-month EURIBOR(b) plus spread of 110 basis points during the floating rate period) | 1.1 | |||||||
American Express Credit Account Master Trust: | ||||||||
Fixed Rate Class A Certificates (weighted-average coupon of 4.37%) | $ | 2.5 | ||||||
Total | $ | 8.6 |
American Express Entity | Moody’s | S&P | Fitch | |||||||||||
American Express Company | Long Term | A2 | A- | A | ||||||||||
Short Term | N/R | A-2 | F1 | |||||||||||
Outlook | Stable | Stable | Stable | |||||||||||
American Express Travel Related Services Company, Inc. | Long Term | A2 | A | A | ||||||||||
Short Term | P-1 | A-1 | F1 | |||||||||||
Outlook | Stable | Stable | Stable | |||||||||||
American Express National Bank | Long Term | A3 | A | A | ||||||||||
Short Term | P-1 | A-1 | F1 | |||||||||||
Outlook | Stable | Stable | Stable | |||||||||||
American Express Credit Corporation | Long Term | A2 | A | A | ||||||||||
Short Term | N/R | N/R | N/R | |||||||||||
Outlook | Stable | Stable | Stable |
Three Months Ended June 30, | ||||||||||||||||||||||||||||||||||||||
2025 | 2024 | |||||||||||||||||||||||||||||||||||||
(Millions, except percentages) | Average Balance | Interest Expense | Average Interest Rate (a) | Average Balance | Interest Expense | Average Interest Rate (a) | ||||||||||||||||||||||||||||||||
Savings accounts | $ | 113,134 | $ | 1,012 | 3.6 | % | $ | 100,510 | $ | 1,047 | 4.2 | % | ||||||||||||||||||||||||||
Checking accounts | 2,414 | 14 | 2.3 | 1,558 | 6 | 1.5 | ||||||||||||||||||||||||||||||||
Certificates of deposit: | ||||||||||||||||||||||||||||||||||||||
Direct | 4,524 | 45 | 4.0 | 5,024 | 53 | 4.2 | ||||||||||||||||||||||||||||||||
Third-party (brokered) | 11,240 | 124 | 4.4 | 10,338 | 104 | 4.0 | ||||||||||||||||||||||||||||||||
Sweep accounts — Third-party (brokered) | 15,395 | 179 | 4.7 | 15,279 | 214 | 5.6 | ||||||||||||||||||||||||||||||||
Total U.S. interest-bearing deposits | $ | 146,707 | $ | 1,374 | 3.8 | % | $ | 132,709 | $ | 1,424 | 4.3 | % | ||||||||||||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||||||||||||||||
2025 | 2024 | |||||||||||||||||||||||||||||||||||||
(Millions, except percentages) | Average Balance | Interest Expense | Average Interest Rate (a) | Average Balance | Interest Expense | Average Interest Rate (a) | ||||||||||||||||||||||||||||||||
Savings accounts | $ | 111,755 | $ | 2,024 | 3.7 | % | $ | 97,989 | $ | 2,065 | 4.2 | % | ||||||||||||||||||||||||||
Checking accounts | 2,298 | 21 | 1.8 | 1,495 | 10 | 1.4 | ||||||||||||||||||||||||||||||||
Certificates of deposit: | ||||||||||||||||||||||||||||||||||||||
Direct | 4,408 | 88 | 4.0 | 5,241 | 110 | 4.2 | ||||||||||||||||||||||||||||||||
Third-party (brokered) | 10,255 | 221 | 4.4 | 11,455 | 229 | 4.0 | ||||||||||||||||||||||||||||||||
Sweep accounts — Third-party (brokered) | 15,405 | 356 | 4.7 | 15,442 | 436 | 5.7 | ||||||||||||||||||||||||||||||||
Total U.S. interest-bearing deposits | $ | 144,121 | $ | 2,710 | 3.8 | % | $ | 131,622 | $ | 2,850 | 4.4 | % |
(Billions) | 2025 | 2024 | ||||||||||||
Total cash provided by (used in): | ||||||||||||||
Operating activities | $ | 9.1 | $ | 10.1 | ||||||||||
Investing activities | (6.3) | (8.6) | ||||||||||||
Financing activities | 14.3 | 4.8 | ||||||||||||
Effect of foreign currency exchange rates on cash and cash equivalents | 0.2 | — | ||||||||||||
Net increase in cash and cash equivalents | $ | 17.3 | $ | 6.3 |
Three Months Ended June 30 (Millions, except per share amounts) | 2025 | 2024 | ||||||||||||
Revenues | ||||||||||||||
Non-interest revenues | ||||||||||||||
Discount revenue | $ | $ | ||||||||||||
Net card fees | ||||||||||||||
Service fees and other revenue | ||||||||||||||
Total non-interest revenues | ||||||||||||||
Interest income | ||||||||||||||
Interest on loans | ||||||||||||||
Interest and dividends on investment securities | ||||||||||||||
Deposits with banks and other | ||||||||||||||
Total interest income | ||||||||||||||
Interest expense | ||||||||||||||
Deposits | ||||||||||||||
Long-term debt and other | ||||||||||||||
Total interest expense | ||||||||||||||
Net interest income | ||||||||||||||
Total revenues net of interest expense | ||||||||||||||
Provisions for credit losses | ||||||||||||||
Card Member receivables | ||||||||||||||
Card Member loans | ||||||||||||||
Other | ||||||||||||||
Total provisions for credit losses | ||||||||||||||
Total revenues net of interest expense after provisions for credit losses | ||||||||||||||
Expenses | ||||||||||||||
Card Member rewards | ||||||||||||||
Business development | ||||||||||||||
Card Member services | ||||||||||||||
Marketing | ||||||||||||||
Salaries and employee benefits | ||||||||||||||
Other, net | ||||||||||||||
Total expenses | ||||||||||||||
Pretax income | ||||||||||||||
Income tax provision | ||||||||||||||
Net income | $ | $ | ||||||||||||
Earnings per Common Share (Note 14)(a) | ||||||||||||||
Basic | $ | $ | ||||||||||||
Diluted | $ | $ | ||||||||||||
Average common shares outstanding for earnings per common share: | ||||||||||||||
Basic | ||||||||||||||
Diluted |
Six Months Ended June 30 (Millions, except per share amounts) | 2025 | 2024 | ||||||||||||
Revenues | ||||||||||||||
Non-interest revenues | ||||||||||||||
Discount revenue | $ | $ | ||||||||||||
Net card fees | ||||||||||||||
Service fees and other revenue | ||||||||||||||
Total non-interest revenues | ||||||||||||||
Interest income | ||||||||||||||
Interest on loans | ||||||||||||||
Interest and dividends on investment securities | ||||||||||||||
Deposits with banks and other | ||||||||||||||
Total interest income | ||||||||||||||
Interest expense | ||||||||||||||
Deposits | ||||||||||||||
Long-term debt and other | ||||||||||||||
Total interest expense | ||||||||||||||
Net interest income | ||||||||||||||
Total revenues net of interest expense | ||||||||||||||
Provisions for credit losses | ||||||||||||||
Card Member receivables | ||||||||||||||
Card Member loans | ||||||||||||||
Other | ||||||||||||||
Total provisions for credit losses | ||||||||||||||
Total revenues net of interest expense after provisions for credit losses | ||||||||||||||
Expenses | ||||||||||||||
Card Member rewards | ||||||||||||||
Business development | ||||||||||||||
Card Member services | ||||||||||||||
Marketing | ||||||||||||||
Salaries and employee benefits | ||||||||||||||
Other, net | ||||||||||||||
Total expenses | ||||||||||||||
Pretax income | ||||||||||||||
Income tax provision | ||||||||||||||
Net income | $ | $ | ||||||||||||
Earnings per Common Share (Note 14)(a) | ||||||||||||||
Basic | $ | $ | ||||||||||||
Diluted | $ | $ | ||||||||||||
Average common shares outstanding for earnings per common share: | ||||||||||||||
Basic | ||||||||||||||
Diluted |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
(Millions) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
Net income | $ | $ | $ | $ | ||||||||||||||||||||||
Other comprehensive income (loss): | ||||||||||||||||||||||||||
Net unrealized debt securities gains (losses), net of tax | ||||||||||||||||||||||||||
Foreign currency translation adjustments, net of hedges and tax | ( | ( | ||||||||||||||||||||||||
Net unrealized pension and other postretirement benefits, net of tax | ||||||||||||||||||||||||||
Other comprehensive income (loss) | ( | ( | ||||||||||||||||||||||||
Comprehensive income | $ | $ | $ | $ |
(Millions, except share data) | June 30, 2025 | December 31, 2024 | ||||||||||||
Assets | ||||||||||||||
Cash and cash equivalents | ||||||||||||||
Cash and due from banks (includes restricted cash of consolidated variable interest entities: 2025, $ | $ | $ | ||||||||||||
Interest-bearing deposits in other banks | ||||||||||||||
Short-term investment securities (includes restricted investments of consolidated variable interest entities: 2025, $ | ||||||||||||||
Total cash and cash equivalents (includes restricted cash: 2025, $ | ||||||||||||||
Card Member receivables (includes gross receivables available to settle obligations of a consolidated variable interest entity: 2025, $ | ||||||||||||||
Card Member loans (includes gross loans available to settle obligations of a consolidated variable interest entity: 2025, $ | ||||||||||||||
Card Member loans held for sale | ||||||||||||||
Other loans, less reserves for credit losses: 2025, $ | ||||||||||||||
Investment securities | ||||||||||||||
Premises and equipment, less accumulated depreciation and amortization: 2025, $ | ||||||||||||||
Other assets, less reserves for credit losses: 2025, $ | ||||||||||||||
Total assets | $ | $ | ||||||||||||
Liabilities and Shareholders’ Equity | ||||||||||||||
Liabilities | ||||||||||||||
Customer deposits | $ | $ | ||||||||||||
Accounts payable | ||||||||||||||
Short-term borrowings | ||||||||||||||
Long-term debt (includes debt issued by consolidated variable interest entities: 2025, $ | ||||||||||||||
Other liabilities | ||||||||||||||
Total liabilities | $ | $ | ||||||||||||
Contingencies (Note 7) | ||||||||||||||
Shareholders’ Equity | ||||||||||||||
Preferred shares, $1.662/3 par value, authorized | ||||||||||||||
Common shares, $ | ||||||||||||||
Additional paid-in capital | ||||||||||||||
Retained earnings | ||||||||||||||
Accumulated other comprehensive income (loss) | ( | ( | ||||||||||||
Total shareholders’ equity | ||||||||||||||
Total liabilities and shareholders’ equity | $ | $ |
Six Months Ended June 30 (Millions) | 2025 | 2024 | ||||||||||||
Cash Flows from Operating Activities | ||||||||||||||
Net income | $ | $ | ||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||
Provisions for credit losses | ||||||||||||||
Depreciation and amortization | ||||||||||||||
Stock-based compensation | ||||||||||||||
Deferred taxes | ( | ( | ||||||||||||
Other items (a) | ( | |||||||||||||
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | ||||||||||||||
Other assets | ( | |||||||||||||
Accounts payable & other liabilities | ||||||||||||||
Net cash provided by operating activities | ||||||||||||||
Cash Flows from Investing Activities | ||||||||||||||
Sale of investments | ||||||||||||||
Maturities and redemptions of investments | ||||||||||||||
Purchase of investments | ( | ( | ||||||||||||
Net increase in loans and Card Member receivables, including Card Member loans held for sale (b) | ( | ( | ||||||||||||
Purchase of premises and equipment, net of sales: 2025, | ( | ( | ||||||||||||
Acquisitions, net of cash acquired | ( | |||||||||||||
Dispositions, net of cash disposed | ||||||||||||||
Net cash used in investing activities | ( | ( | ||||||||||||
Cash Flows from Financing Activities | ||||||||||||||
Net increase in customer deposits | ||||||||||||||
Net increase in short-term borrowings | ||||||||||||||
Proceeds from long-term debt | ||||||||||||||
Payments of long-term debt | ( | ( | ||||||||||||
Issuance of American Express common shares | ||||||||||||||
Repurchase of American Express common shares and other | ( | ( | ||||||||||||
Dividends paid | ( | ( | ||||||||||||
Net cash provided by financing activities | ||||||||||||||
Effect of foreign currency exchange rates on cash and cash equivalents | ( | |||||||||||||
Net increase in cash and cash equivalents | ||||||||||||||
Cash and cash equivalents at beginning of period | ||||||||||||||
Cash and cash equivalents at end of period | $ | $ |
Three months ended June 30, 2025 (Millions, except per share amounts) | Total | Preferred Shares | Common Shares | Additional Paid-in Capital | Accumulated Other Comprehensive Income (Loss) | Retained Earnings | ||||||||||||||||||||||||||||||||
Balances as of March 31, 2025 | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
Net income | — | — | — | — | ||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | — | — | — | |||||||||||||||||||||||||||||||||||
Repurchase of common shares | ( | — | ( | — | ( | |||||||||||||||||||||||||||||||||
Other changes | — | — | — | |||||||||||||||||||||||||||||||||||
Cash dividends declared preferred Series D, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared common, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
Balances as of June 30, 2025 | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
Six months ended June 30, 2025 (Millions, except per share amounts) | Total | Preferred Shares | Common Shares | Additional Paid-in Capital | Accumulated Other Comprehensive Income (Loss) | Retained Earnings | ||||||||||||||||||||||||||||||||
Balances as of December 31, 2024 | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
Net income | — | — | — | — | ||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | — | — | — | |||||||||||||||||||||||||||||||||||
Repurchase of common shares | ( | — | ( | ( | — | ( | ||||||||||||||||||||||||||||||||
Other changes | ( | — | — | ( | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared preferred Series D, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared common, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
Balances as of June 30, 2025 | $ | $ | $ | $ | $ | ( | $ |
Three months ended June 30, 2024 (Millions, except per share amounts) | Total | Preferred Shares | Common Shares | Additional Paid-in Capital | Accumulated Other Comprehensive Income (Loss) | Retained Earnings | ||||||||||||||||||||||||||||||||
Balances as of March 31, 2024 | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
Net income | — | — | — | — | ||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | ( | — | — | — | ( | |||||||||||||||||||||||||||||||||
Repurchase of common shares | ( | — | ( | ( | — | ( | ||||||||||||||||||||||||||||||||
Other changes | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Cash dividends declared preferred Series D, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared common, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
Balances as of June 30, 2024 | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
Six months ended June 30, 2024 (Millions, except per share amounts) | Total | Preferred Shares | Common Shares | Additional Paid-in Capital | Accumulated Other Comprehensive Income (Loss) | Retained Earnings | ||||||||||||||||||||||||||||||||
Balances as of December 31, 2023 | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
Net income | — | — | — | — | ||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | ( | — | — | — | ( | |||||||||||||||||||||||||||||||||
Repurchase of common shares | ( | — | ( | ( | — | ( | ||||||||||||||||||||||||||||||||
Other changes | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Cash dividends declared preferred Series D, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared common, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
Balances as of June 30, 2024 | $ | $ | $ | $ | $ | ( | $ |
(Millions) | 2025 | 2024 | ||||||||||||
Consumer (a) | $ | $ | ||||||||||||
Small Business | ||||||||||||||
Corporate | ||||||||||||||
Card Member loans | ||||||||||||||
Less: Reserves for credit losses | ||||||||||||||
Card Member loans, net | $ | $ | ||||||||||||
Other loans, net (b) | $ | $ |
(Millions) | 2025 | 2024 | ||||||||||||
Consumer | $ | $ | ||||||||||||
Small Business | ||||||||||||||
Corporate (a) | ||||||||||||||
Card Member receivables | ||||||||||||||
Less: Reserves for credit losses | ||||||||||||||
Card Member receivables, net | $ | $ |
2025 (Millions) | Current | 30-59 Days Past Due | 60-89 Days Past Due | 90+ Days Past Due | Total | 90+ Days Past Due and Still Accruing Interest (c) | Non-Accruals(d) | |||||||||||||||||||||||||||||||||||||
Card Member Loans: | ||||||||||||||||||||||||||||||||||||||||||||
Consumer | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||
Small Business | ||||||||||||||||||||||||||||||||||||||||||||
Corporate (a) | (b) | (b) | (b) | |||||||||||||||||||||||||||||||||||||||||
Card Member Receivables: | ||||||||||||||||||||||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||||||||||||||
Small Business | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||||
Corporate (a) | (b) | (b) | (b) | $ | $ | $ | $ |
2024 (Millions) | Current | 30-59 Days Past Due | 60-89 Days Past Due | 90+ Days Past Due | Total | 90+ Days Past Due and Still Accruing Interest (c) | Non-Accruals(d) | |||||||||||||||||||||||||||||||||||||
Card Member Loans: | ||||||||||||||||||||||||||||||||||||||||||||
Consumer | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||
Small Business | ||||||||||||||||||||||||||||||||||||||||||||
Corporate (a) | (b) | (b) | (b) | |||||||||||||||||||||||||||||||||||||||||
Card Member Receivables: | ||||||||||||||||||||||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||||||||||||||
Small Business | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||||
Corporate (a) | (b) | (b) | (b) | $ | $ | $ | $ |
2025 (Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving Loans (a) | Total | ||||||||||||||||||||||||||||||||||||||||||
Current | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||||
60-89 Days Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||||
90+ Days Past Due (b) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total (c) | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Gross Write-Offs | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
2024 (Millions) | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Revolving Loans (a) | Total | ||||||||||||||||||||||||||||||||||||||||||
Current | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||||
60-89 Days Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||||
90+ Days Past Due (b) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total (c) | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Gross Write-Offs | $ | $ | $ | $ | $ | $ | $ | $ |
2025 | 2024 | |||||||||||||||||||||||||||||||||||||
Net Write-Off Rate | Net Write-Off Rate | |||||||||||||||||||||||||||||||||||||
Principal Only (a) | Principal, Interest & Fees (a) | 30+ Days Past Due as a % of Total | Principal Only (a) | Principal, Interest & Fees (a) | 30+ Days Past Due as a % of Total | |||||||||||||||||||||||||||||||||
Card Member Loans: | ||||||||||||||||||||||||||||||||||||||
Consumer | % | % | % | % | % | % | ||||||||||||||||||||||||||||||||
Small Business | % | % | % | % | % | % | ||||||||||||||||||||||||||||||||
Card Member Receivables: | ||||||||||||||||||||||||||||||||||||||
Consumer | % | % | % | % | % | % | ||||||||||||||||||||||||||||||||
Small Business | % | % | % | % | % | % | ||||||||||||||||||||||||||||||||
Corporate | (b) | % | (c) | (b) | % | (c) | ||||||||||||||||||||||||||||||||
Other Loans | % | % | % | % | % | % |
Three Months Ended June 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2025 | 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||
Account Balances (Millions) (a) | % of Total Class of Financing Receivables | Weighted Average Interest Rate Reduction (% points) | Weighted Average Payment Term Extensions (# of months) | Account Balances (Millions) (a) | % of Total Class of Financing Receivables | Weighted Average Interest Rate Reduction (% points) | Weighted Average Payment Term Extensions (# of months) | |||||||||||||||||||||||||||||||||||||||||||
Interest Rate Reduction | ||||||||||||||||||||||||||||||||||||||||||||||||||
Card Member Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | $ | % | % | (b) | $ | % | % | (b) | ||||||||||||||||||||||||||||||||||||||||||
Small Business | % | % | (b) | % | % | (b) | ||||||||||||||||||||||||||||||||||||||||||||
Corporate | (b) | (b) | ||||||||||||||||||||||||||||||||||||||||||||||||
Term Extension | ||||||||||||||||||||||||||||||||||||||||||||||||||
Card Member Receivables | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | % | (c) | % | (c) | ||||||||||||||||||||||||||||||||||||||||||||||
Small Business | % | (c) | % | (c) | ||||||||||||||||||||||||||||||||||||||||||||||
Corporate | % | (c) | % | (c) | ||||||||||||||||||||||||||||||||||||||||||||||
Other Loans | % | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate Reduction and Term Extension | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other Loans | % | % | % | % | ||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2025 | 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||
Account Balances (Millions) (a) | % of Total Class of Financing Receivables | Weighted Average Interest Rate Reduction (% points) | Weighted Average Payment Term Extensions (# of months) | Account Balances (Millions) (a) | % of Total Class of Financing Receivables | Weighted Average Interest Rate Reduction (% points) | Weighted Average Payment Term Extensions (# of months) | |||||||||||||||||||||||||||||||||||||||||||
Interest Rate Reduction | ||||||||||||||||||||||||||||||||||||||||||||||||||
Card Member Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | $ | % | % | (b) | $ | % | % | (b) | ||||||||||||||||||||||||||||||||||||||||||
Small Business | % | % | (b) | % | % | (b) | ||||||||||||||||||||||||||||||||||||||||||||
Corporate | (b) | (b) | ||||||||||||||||||||||||||||||||||||||||||||||||
Term Extension | ||||||||||||||||||||||||||||||||||||||||||||||||||
Card Member Receivables | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | % | (c) | % | (c) | ||||||||||||||||||||||||||||||||||||||||||||||
Small Business | % | (c) | % | (c) | ||||||||||||||||||||||||||||||||||||||||||||||
Corporate | % | (c) | % | (c) | ||||||||||||||||||||||||||||||||||||||||||||||
Other Loans | % | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate Reduction and Term Extension | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other Loans | % | % | % | % | ||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ |
Three Months Ended June 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2025 | 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||
Account Balance (Millions) (a) | Interest Rate Reduction | Term Extension | Interest Rate Reduction and Term Extension | Total | Interest Rate Reduction | Term Extension | Interest Rate Reduction and Term Extension | Total | ||||||||||||||||||||||||||||||||||||||||||
Card Member Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | $ | (b) | $ | $ | $ | (b) | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Small Business | (b) | (b) | ||||||||||||||||||||||||||||||||||||||||||||||||
Corporate | (b) | (b) | ||||||||||||||||||||||||||||||||||||||||||||||||
Card Member Receivables | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | (c) | $ | (c) | $ | ||||||||||||||||||||||||||||||||||||||||||||||
Small Business | (c) | (c) | ||||||||||||||||||||||||||||||||||||||||||||||||
Corporate | (c) | (c) | ||||||||||||||||||||||||||||||||||||||||||||||||
Other Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2025 | 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||
Account Balance (Millions) (a) | Interest Rate Reduction | Term Extension | Interest Rate Reduction and Term Extension | Total | Interest Rate Reduction | Term Extension | Interest Rate Reduction and Term Extension | Total | ||||||||||||||||||||||||||||||||||||||||||
Card Member Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | $ | (b) | $ | $ | $ | (b) | $ | |||||||||||||||||||||||||||||||||||||||||||
Small Business | (b) | (b) | ||||||||||||||||||||||||||||||||||||||||||||||||
Corporate | (b) | (b) | ||||||||||||||||||||||||||||||||||||||||||||||||
Card Member Receivables | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | (c) | $ | (c) | $ | ||||||||||||||||||||||||||||||||||||||||||||||
Small Business | (c) | (c) | ||||||||||||||||||||||||||||||||||||||||||||||||
Corporate | (c) | (c) | ||||||||||||||||||||||||||||||||||||||||||||||||
Other Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ |
As of June 30, 2025 | ||||||||||||||||||||
Account Balances (Millions) (a) | Current | 30-89 Days Past Due | 90+ Days Past Due | |||||||||||||||||
Card Member Loans | ||||||||||||||||||||
Consumer | $ | $ | $ | |||||||||||||||||
Small Business | ||||||||||||||||||||
Corporate | ||||||||||||||||||||
Card Member Receivables: | ||||||||||||||||||||
Consumer | ||||||||||||||||||||
Small Business | ||||||||||||||||||||
Corporate | ||||||||||||||||||||
Other Loans | ||||||||||||||||||||
Total | $ | $ | $ |
As of June 30, 2024 | ||||||||||||||||||||
Account Balances (Millions) (a) | Current | 30-89 Days Past Due | 90+ Days Past Due | |||||||||||||||||
Card Member Loans | ||||||||||||||||||||
Consumer | $ | $ | $ | |||||||||||||||||
Small Business | ||||||||||||||||||||
Corporate | ||||||||||||||||||||
Card Member Receivables: | ||||||||||||||||||||
Consumer | ||||||||||||||||||||
Small Business | ||||||||||||||||||||
Corporate | ||||||||||||||||||||
Other Loans | ||||||||||||||||||||
Total | $ | $ | $ |
U.S. Unemployment Rate | U.S. GDP Growth (Contraction) (a) | |||||||||||||||||||||||||
June 30, 2025 | December 31, 2024 | June 30, 2025 | December 31, 2024 | |||||||||||||||||||||||
Second quarter of 2025 | ||||||||||||||||||||||||||
Fourth quarter of 2025 | ||||||||||||||||||||||||||
Fourth quarter of 2026 | ||||||||||||||||||||||||||
Fourth quarter of 2027 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
(Millions) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
Beginning Balance | $ | $ | $ | $ | ||||||||||||||||||||||
Provisions (a) | ||||||||||||||||||||||||||
Net write-offs (b) | ||||||||||||||||||||||||||
Principal | ( | ( | ( | ( | ||||||||||||||||||||||
Interest and fees | ( | ( | ( | ( | ||||||||||||||||||||||
Other (c) | ( | ( | ||||||||||||||||||||||||
Ending Balance | $ | $ | $ | $ |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
(Millions) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
Beginning Balance | $ | $ | $ | $ | ||||||||||||||||||||||
Provisions (a) | ||||||||||||||||||||||||||
Net write-offs (b) | ( | ( | ( | ( | ||||||||||||||||||||||
Other (c) | ( | ( | ||||||||||||||||||||||||
Ending Balance | $ | $ | $ | $ |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
(Millions) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
Beginning Balance | $ | $ | $ | $ | ||||||||||||||||||||||
Provisions (a) | ||||||||||||||||||||||||||
Net write-offs (b) | ||||||||||||||||||||||||||
Principal | ( | ( | ( | ( | ||||||||||||||||||||||
Interest and Fees | ( | ( | ( | ( | ||||||||||||||||||||||
Other | ||||||||||||||||||||||||||
Ending Balance | $ | $ | $ | $ |
2025 | 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||
Description of Securities (Millions) | Cost | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | Cost | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | ||||||||||||||||||||||||||||||||||||||||||
Available-for-sale debt securities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
State and municipal obligations | $ | $ | $ | ( | $ | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||||||||||||
U.S. Government agency obligations | ||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Government treasury obligations | ( | ( | ||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities (a) | ( | |||||||||||||||||||||||||||||||||||||||||||||||||
Foreign government bonds and obligations | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other (b) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equity securities (c) | ( | ( | ||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | ( | $ | $ | $ | $ | ( | $ |
2025 | 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or more | Less than 12 months | 12 months or more | |||||||||||||||||||||||||||||||||||||||||||||||
Description of Securities (Millions) | Estimated Fair Value | Gross Unrealized Losses | Estimated Fair Value | Gross Unrealized Losses | Estimated Fair Value | Gross Unrealized Losses | Estimated Fair Value | Gross Unrealized Losses | ||||||||||||||||||||||||||||||||||||||||||
State and municipal obligations | $ | $ | $ | $ | ( | $ | $ | $ | $ | ( | ||||||||||||||||||||||||||||||||||||||||
U.S. Government treasury obligations | ( | ( | ||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | ( | |||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | ( | $ | $ | $ | $ | ( |
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ratio of Fair Value to Amortized Cost (Dollars in millions) | Number of Securities | Estimated Fair Value | Gross Unrealized Losses | Number of Securities | Estimated Fair Value | Gross Unrealized Losses | Number of Securities | Estimated Fair Value | Gross Unrealized Losses | |||||||||||||||||||||||||||||||||||||||||||||||
2025: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
90–100% | $ | $ | $ | $ | ( | $ | $ | ( | ||||||||||||||||||||||||||||||||||||||||||||||||
Less than 90% | $ | $ | $ | $ | ( | $ | $ | ( | ||||||||||||||||||||||||||||||||||||||||||||||||
Total as of June 30, 2025 | $ | $ | $ | $ | ( | $ | $ | ( | ||||||||||||||||||||||||||||||||||||||||||||||||
2024: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
90–100% | $ | $ | $ | $ | ( | $ | $ | ( | ||||||||||||||||||||||||||||||||||||||||||||||||
Less than 90% | $ | $ | $ | $ | ( | $ | $ | ( | ||||||||||||||||||||||||||||||||||||||||||||||||
Total as of December 31, 2024 | $ | $ | $ | $ | ( | $ | $ | ( |
(Millions) | Cost | Estimated Fair Value | ||||||||||||
Due within 1 year | $ | $ | ||||||||||||
Due after 1 year but within 5 years | ||||||||||||||
Due after 5 years but within 10 years | ||||||||||||||
Due after 10 years | ||||||||||||||
Total | $ | $ |
(Millions) | 2025 | 2024 | ||||||||||||
U.S.: | ||||||||||||||
Interest-bearing | $ | $ | ||||||||||||
Non-interest-bearing (includes Card Member credit balances of: 2025, $ | ||||||||||||||
Non-U.S.: | ||||||||||||||
Interest-bearing | ||||||||||||||
Non-interest-bearing (includes Card Member credit balances of: 2025, $ | ||||||||||||||
Total customer deposits | $ | $ |
(Millions) | 2025 | 2024 | ||||||||||||
U.S. interest-bearing deposits: | ||||||||||||||
Savings accounts | $ | $ | ||||||||||||
Checking accounts | ||||||||||||||
Certificates of deposit: | ||||||||||||||
Direct | ||||||||||||||
Third-party (brokered) | ||||||||||||||
Sweep accounts – Third-party (brokered) | ||||||||||||||
Total U.S. interest-bearing deposits | $ | $ | ||||||||||||
Other deposits | ||||||||||||||
Card Member credit balances | ||||||||||||||
Total customer deposits | $ | $ |
(Millions) | 2025 | 2026 | 2027 | 2028 | 2029 | After 5 Years | Total | |||||||||||||||||||||||||||||||||||||
Certificates of deposit (a) | $ | $ | $ | $ | $ | $ | $ |
Other Assets Fair Value | Other Liabilities Fair Value | |||||||||||||||||||||||||
(Millions) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||||||||||||||
Fair value hedges - Interest rate contracts (a) | $ | $ | $ | $ | ||||||||||||||||||||||
Net investment hedges - Foreign exchange contracts | ||||||||||||||||||||||||||
Total derivatives designated as hedging instruments | ||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||||
Foreign exchange contracts and other | ||||||||||||||||||||||||||
Total derivatives, gross | ||||||||||||||||||||||||||
Derivative asset and derivative liability netting (b) | ( | ( | ( | ( | ||||||||||||||||||||||
Cash collateral netting (c) | ( | ( | ( | |||||||||||||||||||||||
Total derivatives, net | $ | $ | $ | $ |
Gains (losses) | ||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
(Millions) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
Fixed-rate long-term debt | $ | ( | $ | ( | $ | ( | $ | |||||||||||||||||||
Derivatives designated as hedging instruments | ( | |||||||||||||||||||||||||
Total | $ | $ | $ | $ | ( |
2025 | 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||
(Millions) | Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||||
Assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Investment securities: (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equity securities | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Debt securities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives, gross (a)(b) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives, gross (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Liabilities | $ | $ | $ | $ | $ | $ | $ | $ |
Carrying Value | Corresponding Fair Value Amount | |||||||||||||||||||||||||||||||
2025 (Billions) | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Financial Assets: | ||||||||||||||||||||||||||||||||
Financial assets for which carrying values equal or approximate fair value | ||||||||||||||||||||||||||||||||
Cash and cash equivalents (a) | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Other financial assets (b) | ||||||||||||||||||||||||||||||||
Financial assets carried at other than fair value | ||||||||||||||||||||||||||||||||
Card Member and Other loans, less reserves (c) | ||||||||||||||||||||||||||||||||
Card Member loans HFS | ||||||||||||||||||||||||||||||||
Financial Liabilities: | ||||||||||||||||||||||||||||||||
Financial liabilities for which carrying values equal or approximate fair value | ||||||||||||||||||||||||||||||||
Financial liabilities carried at other than fair value | ||||||||||||||||||||||||||||||||
Certificates of deposit (d) | ||||||||||||||||||||||||||||||||
Long-term debt (c) | $ | $ | $ | $ | $ |
Carrying Value | Corresponding Fair Value Amount | |||||||||||||||||||||||||||||||
2024 (Billions) | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Financial Assets: | ||||||||||||||||||||||||||||||||
Financial assets for which carrying values equal or approximate fair value | ||||||||||||||||||||||||||||||||
Cash and cash equivalents (a) | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Other financial assets (b) | ||||||||||||||||||||||||||||||||
Financial assets carried at other than fair value | ||||||||||||||||||||||||||||||||
Card Member and Other loans, less reserves (c) | ||||||||||||||||||||||||||||||||
Card Member loans HFS | ||||||||||||||||||||||||||||||||
Financial Liabilities: | ||||||||||||||||||||||||||||||||
Financial liabilities for which carrying values equal or approximate fair value | ||||||||||||||||||||||||||||||||
Financial liabilities carried at other than fair value | ||||||||||||||||||||||||||||||||
Certificates of deposit (d) | ||||||||||||||||||||||||||||||||
Long-term debt (c) | $ | $ | $ | $ | $ |
(Millions), net of tax | Three Months Ended, | |||||||||||||||||||||||||||||||||||||
June 30, 2025 | Net Change | March 31, 2025 | June 30, 2024 | Net Change | March 31, 2024 | |||||||||||||||||||||||||||||||||
Net Unrealized Gains (Losses) on Debt Securities | $ | ( | $ | $ | ( | $ | ( | $ | $ | ( | ||||||||||||||||||||||||||||
Foreign Currency Translation Adjustment Gains (Losses), net of hedges (a) | ( | ( | ( | ( | ( | |||||||||||||||||||||||||||||||||
Net Unrealized Pension and Other Postretirement Benefit Gains (Losses) | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | $ | ( | $ | $ | ( | $ | ( | $ | ( | $ | ( | |||||||||||||||||||||||||||
(Millions), net of tax | Six Months Ended | |||||||||||||||||||||||||||||||||||||
June 30, 2025 | Net Change | December 31, 2024 | June 30, 2024 | Net Change | December 31, 2023 | |||||||||||||||||||||||||||||||||
Net Unrealized Gains (Losses) on Debt Securities | $ | ( | $ | $ | ( | $ | ( | $ | $ | ( | ||||||||||||||||||||||||||||
Foreign Currency Translation Adjustment Gains (Losses), net of hedges (a) | ( | ( | ( | ( | ( | |||||||||||||||||||||||||||||||||
Net Unrealized Pension and Other Postretirement Benefit Gains (Losses) | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | $ | ( | $ | $ | ( | $ | ( | $ | ( | $ | ( |
Tax expense (benefit) | ||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
(Millions) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
Net unrealized gains on debt securities | $ | $ | $ | $ | ||||||||||||||||||||||
Foreign currency translation adjustment, net of hedges | ( | ( | ||||||||||||||||||||||||
Pension and other postretirement benefits | ( | ( | ||||||||||||||||||||||||
Total tax impact | $ | ( | $ | $ | ( | $ |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
(Millions) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
Network partnership revenue (a) | $ | $ | $ | $ | ||||||||||||||||||||||
Loyalty coalition, merchant and other service fees (b) | ||||||||||||||||||||||||||
Foreign currency-related revenue | ||||||||||||||||||||||||||
Delinquency fees | ||||||||||||||||||||||||||
Travel commissions and fees | ||||||||||||||||||||||||||
Other fees and revenues | ||||||||||||||||||||||||||
Total Service fees and other revenue (a) | $ | $ | $ | $ |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
(Millions) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
Data processing and equipment | $ | $ | $ | $ | ||||||||||||||||||||||
Professional services | ||||||||||||||||||||||||||
Gain on sale of Accertify (a) | ( | ( | ||||||||||||||||||||||||
Other | ||||||||||||||||||||||||||
Total Other expenses | $ | $ | $ | $ |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
(Millions) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
Proportional amortization recognized in tax provision | $ | $ | $ | $ | ||||||||||||||||||||||
Income tax credits and Other income tax benefits (a) recognized in tax provision |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
(Millions, except per share amounts) | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
Numerator: | ||||||||||||||||||||||||||
Basic and diluted: | ||||||||||||||||||||||||||
Net income | $ | $ | $ | $ | ||||||||||||||||||||||
Preferred dividends | ( | ( | ( | ( | ||||||||||||||||||||||
Net income available to common shareholders | $ | $ | $ | $ | ||||||||||||||||||||||
Earnings allocated to participating share awards (a) | ( | ( | ( | ( | ||||||||||||||||||||||
Net income attributable to common shareholders | $ | $ | $ | $ | ||||||||||||||||||||||
Denominator:(a) | ||||||||||||||||||||||||||
Basic: Weighted-average common stock | ||||||||||||||||||||||||||
Add: Weighted-average stock options (b) | ||||||||||||||||||||||||||
Diluted | ||||||||||||||||||||||||||
Basic EPS | $ | $ | $ | $ | ||||||||||||||||||||||
Diluted EPS | $ | $ | $ | $ |
Three Months Ended June 30, 2025 (Millions) | USCS | CS | ICS | GMNS | Corporate & Other (a) | Consolidated | ||||||||||||||||||||||||||||||||
Total non-interest revenues | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
Revenue from contracts with customers (b) | ( | |||||||||||||||||||||||||||||||||||||
Interest income | ||||||||||||||||||||||||||||||||||||||
Interest expense | ( | |||||||||||||||||||||||||||||||||||||
Net interest income | ( | |||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense | ( | |||||||||||||||||||||||||||||||||||||
Provisions for credit losses | ||||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense after provisions for credit losses | ( | |||||||||||||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||||
Card Member rewards, business development and Card Member services (c) | ||||||||||||||||||||||||||||||||||||||
Marketing | ||||||||||||||||||||||||||||||||||||||
Salaries and employee benefits and other operating expenses | ||||||||||||||||||||||||||||||||||||||
Total expenses | ||||||||||||||||||||||||||||||||||||||
Pretax income (loss) | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
Total assets | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2025 (Millions) | USCS | CS | ICS | GMNS | Corporate & Other (a) | Consolidated | ||||||||||||||||||||||||||||||||
Total non-interest revenues | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
Revenue from contracts with customers (b) | ( | |||||||||||||||||||||||||||||||||||||
Interest income | ||||||||||||||||||||||||||||||||||||||
Interest expense | ( | |||||||||||||||||||||||||||||||||||||
Net interest income | ( | |||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense | ( | |||||||||||||||||||||||||||||||||||||
Provisions for credit losses | ||||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense after provisions for credit losses | ( | |||||||||||||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||||
Card Member rewards, business development and Card Member services (c) | ||||||||||||||||||||||||||||||||||||||
Marketing | ||||||||||||||||||||||||||||||||||||||
Salaries and employee benefits and other operating expenses | ||||||||||||||||||||||||||||||||||||||
Total expenses | ||||||||||||||||||||||||||||||||||||||
Pretax income (loss) | $ | $ | $ | $ | $ | ( | $ |
Three Months Ended June 30, 2024 (Millions) | USCS | CS | ICS | GMNS | Corporate & Other (a) | Consolidated | ||||||||||||||||||||||||||||||||
Total non-interest revenues | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
Revenue from contracts with customers (b) | ||||||||||||||||||||||||||||||||||||||
Interest income | ||||||||||||||||||||||||||||||||||||||
Interest expense | ( | |||||||||||||||||||||||||||||||||||||
Net interest income | ( | |||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense | ( | |||||||||||||||||||||||||||||||||||||
Provisions for credit losses | ||||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense after provisions for credit losses | ( | |||||||||||||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||||
Card Member rewards, business development and Card Member services (c) | ||||||||||||||||||||||||||||||||||||||
Marketing | ||||||||||||||||||||||||||||||||||||||
Salaries and employee benefits and other operating expenses | ( | |||||||||||||||||||||||||||||||||||||
Total expenses | ||||||||||||||||||||||||||||||||||||||
Pretax income (loss) | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
Total assets | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2024 (Millions) | USCS | CS | ICS | GMNS | Corporate & Other (a) | Consolidated | ||||||||||||||||||||||||||||||||
Total non-interest revenues | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
Revenue from contracts with customers (b) | ||||||||||||||||||||||||||||||||||||||
Interest income | ||||||||||||||||||||||||||||||||||||||
Interest expense | ( | |||||||||||||||||||||||||||||||||||||
Net interest income | ( | |||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense | ( | |||||||||||||||||||||||||||||||||||||
Provisions for credit losses | ||||||||||||||||||||||||||||||||||||||
Total revenues net of interest expense after provisions for credit losses | ( | |||||||||||||||||||||||||||||||||||||
Expenses | ||||||||||||||||||||||||||||||||||||||
Card Member rewards, business development and Card Member services (c) | ||||||||||||||||||||||||||||||||||||||
Marketing | ||||||||||||||||||||||||||||||||||||||
Salaries and employee benefits and other operating expenses | ||||||||||||||||||||||||||||||||||||||
Total expenses | ||||||||||||||||||||||||||||||||||||||
Pretax income (loss) | $ | $ | $ | $ | $ | ( | $ |
Total Number of Shares Purchased | Average Price Paid Per Share (c) | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (d) | Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs | |||||||||||||||||||||||
April 1-30, 2025 | ||||||||||||||||||||||||||
Repurchase programs(a) | 580,372 | $ | 264.44 | 580,372 | 72,320,147 | |||||||||||||||||||||
Employee transactions(b) | 9,519 | $ | 265.04 | N/A | N/A | |||||||||||||||||||||
May 1-31, 2025 | ||||||||||||||||||||||||||
Repurchase programs(a) | 1,931,072 | $ | 289.29 | 1,931,072 | 70,389,075 | |||||||||||||||||||||
Employee transactions(b) | — | $ | — | N/A | N/A | |||||||||||||||||||||
June 1-30, 2025 | ||||||||||||||||||||||||||
Repurchase programs(a) | 2,226,905 | $ | 300.86 | 2,226,905 | 68,162,170 | |||||||||||||||||||||
Employee transactions(b) | — | $ | — | N/A | N/A | |||||||||||||||||||||
Total | ||||||||||||||||||||||||||
Repurchase programs(a) | 4,738,349 | $ | 291.68 | 4,738,349 | 68,162,170 | |||||||||||||||||||||
Employee transactions(b) | 9,519 | $ | 265.04 | N/A | N/A |
Exhibit | Description | ||||
31.1 | |||||
31.2 | |||||
32.1 | |||||
32.2 | |||||
101.INS | XBRL Instance Document - The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document. | ||||
101.SCH | XBRL Taxonomy Extension Schema Document | ||||
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | ||||
101.LAB | XBRL Taxonomy Extension Label Linkbase Document | ||||
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document | ||||
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document | ||||
104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) |
AMERICAN EXPRESS COMPANY | ||||||||
(Registrant) | ||||||||
Date: July 18, 2025 | By | /s/ Christophe Y. Le Caillec | ||||||
Christophe Y. Le Caillec Chief Financial Officer | ||||||||
Date: July 18, 2025 | By | /s/ Jessica Lieberman Quinn | ||||||
Jessica Lieberman Quinn Executive Vice President and Corporate Controller (Principal Accounting Officer) |
Date: July 18, 2025 | |||||
/s/ Stephen J. Squeri | |||||
Stephen J. Squeri Chief Executive Officer |
Date: July 18, 2025 | |||||
/s/ Christophe Y. Le Caillec | |||||
Christophe Y. Le Caillec Chief Financial Officer |
/s/ Stephen J. Squeri | ||
Name: Stephen J. Squeri Title: Chief Executive Officer | ||
Date: July 18, 2025 |
/s/ Christophe Y. Le Caillec | ||
Name: Christophe Y. Le Caillec Title: Chief Financial Officer | ||
Date: July 18, 2025 |
Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|||||||||
Non-interest revenues | ||||||||||||
Non-interest revenues | $ 13,669 | $ 12,603 | $ 26,467 | $ 24,635 | ||||||||
Interest income | ||||||||||||
Interest on loans | 5,648 | 5,092 | 11,200 | 10,150 | ||||||||
Interest and dividends on investment securities | 17 | 25 | 31 | 50 | ||||||||
Deposits with banks and other | 599 | 677 | 1,168 | 1,369 | ||||||||
Total interest income | 6,264 | 5,794 | 12,399 | 11,569 | ||||||||
Interest expense | ||||||||||||
Deposits | 1,374 | 1,425 | 2,711 | 2,852 | ||||||||
Long-term debt and other | 703 | 639 | 1,332 | 1,218 | ||||||||
Total interest expense | 2,077 | 2,064 | 4,043 | 4,070 | ||||||||
Net interest income | 4,187 | 3,730 | 8,356 | 7,499 | ||||||||
Total revenues net of interest expense | 17,856 | 16,333 | 34,823 | 32,134 | ||||||||
Provisions for credit losses | ||||||||||||
Total provisions for credit losses | 1,405 | 1,268 | 2,555 | 2,537 | ||||||||
Total revenues net of interest expense after provisions for credit losses | 16,451 | 15,065 | 32,268 | 29,597 | ||||||||
Expenses | ||||||||||||
Card Member rewards | 4,618 | 4,227 | 8,996 | 8,001 | ||||||||
Business development | 1,589 | 1,427 | 3,118 | 2,819 | ||||||||
Card Member services | 1,301 | 1,154 | 2,629 | 2,325 | ||||||||
Marketing | 1,555 | 1,480 | 3,041 | 2,956 | ||||||||
Salaries and employee benefits | 2,152 | 1,949 | 4,272 | 4,047 | ||||||||
Other, net | 1,686 | 1,038 | 3,332 | 2,514 | ||||||||
Total expenses | 12,901 | 11,275 | 25,388 | 22,662 | ||||||||
Pretax income | 3,550 | 3,790 | 6,880 | 6,935 | ||||||||
Income tax provision | 665 | 775 | 1,411 | 1,483 | ||||||||
Net income | $ 2,885 | $ 3,015 | $ 5,469 | $ 5,452 | ||||||||
Earnings per Common Share | ||||||||||||
Basic (in dollars per share) | $ 4.08 | [1] | $ 4.16 | [1] | $ 7.73 | [2] | $ 7.49 | [2] | ||||
Diluted (in dollars per share) | $ 4.08 | [1] | $ 4.15 | [1] | $ 7.71 | [2] | $ 7.48 | [2] | ||||
Average common shares outstanding for earnings per common share: | ||||||||||||
Basic (in shares) | 698 | 716 | 700 | 718 | ||||||||
Diluted (in shares) | 699 | 717 | 701 | 719 | ||||||||
Card Member Receivables | ||||||||||||
Provisions for credit losses | ||||||||||||
Total provisions for credit losses | $ 226 | $ 226 | $ 372 | $ 422 | ||||||||
Card Member Loans | ||||||||||||
Provisions for credit losses | ||||||||||||
Total provisions for credit losses | 1,094 | 970 | 1,995 | 1,984 | ||||||||
Other | ||||||||||||
Provisions for credit losses | ||||||||||||
Total provisions for credit losses | 85 | 72 | 188 | 131 | ||||||||
Discount revenue | ||||||||||||
Non-interest revenues | ||||||||||||
Non-interest revenues | 9,361 | 8,855 | 18,104 | 17,235 | ||||||||
Net card fees | ||||||||||||
Non-interest revenues | ||||||||||||
Non-interest revenues | 2,480 | 2,060 | 4,813 | 4,034 | ||||||||
Service fees and other revenue | ||||||||||||
Non-interest revenues | ||||||||||||
Non-interest revenues | $ 1,828 | $ 1,688 | $ 3,550 | $ 3,366 | ||||||||
|
Consolidated Statements of Income (Unaudited) (Parenthetical) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
Income Statement [Abstract] | ||||
Earnings allocated to participating share awards | $ 18 | $ 23 | $ 36 | $ 41 |
Dividends on preferred shares | $ 15 | $ 15 | $ 29 | $ 29 |
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 2,885 | $ 3,015 | $ 5,469 | $ 5,452 |
Other comprehensive income (loss): | ||||
Net unrealized debt securities gains (losses), net of tax | 0 | 3 | 3 | 4 |
Foreign currency translation adjustments, net of hedges and tax | 115 | (49) | 132 | (136) |
Net unrealized pension and other postretirement benefits, net of tax | 3 | 1 | 12 | 4 |
Other comprehensive income (loss) | 118 | (45) | 147 | (128) |
Comprehensive income | $ 3,003 | $ 2,970 | $ 5,616 | $ 5,324 |
Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Millions |
6 Months Ended | |
---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
Statement of Cash Flows [Abstract] | ||
Sales of premises and equipment | $ 0 | $ 2 |
Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Millions |
Total |
Preferred Shares |
Common Shares |
Additional Paid-in Capital |
Accumulated Other Comprehensive Income (Loss) |
Retained Earnings |
Series D Preferred Stock |
Series D Preferred Stock
Retained Earnings
|
---|---|---|---|---|---|---|---|---|
Beginning Balance at Dec. 31, 2023 | $ 28,057 | $ 0 | $ 145 | $ 11,372 | $ (3,072) | $ 19,612 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 5,452 | 5,452 | ||||||
Other comprehensive income (loss) | (128) | (128) | 0 | |||||
Repurchase of common shares | (2,903) | (2) | (200) | (2,701) | ||||
Other changes | 101 | 160 | (59) | |||||
Cash dividends declared preferred | $ (29) | $ (29) | ||||||
Cash dividends declared common | (1,010) | (1,010) | ||||||
Ending Balance at Jun. 30, 2024 | 29,540 | 0 | 143 | 11,332 | (3,200) | 21,265 | ||
Beginning Balance at Mar. 31, 2024 | 28,764 | 0 | 144 | 11,354 | (3,155) | 20,421 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 3,015 | 3,015 | ||||||
Other comprehensive income (loss) | (45) | (45) | 0 | |||||
Repurchase of common shares | (1,767) | (1) | (117) | (1,649) | ||||
Other changes | 91 | 95 | (4) | |||||
Cash dividends declared preferred | (15) | (15) | ||||||
Cash dividends declared common | (503) | (503) | ||||||
Ending Balance at Jun. 30, 2024 | 29,540 | 0 | 143 | 11,332 | (3,200) | 21,265 | ||
Beginning Balance at Dec. 31, 2024 | 30,264 | 0 | 141 | 11,370 | (3,395) | 22,148 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 5,469 | 5,469 | ||||||
Other comprehensive income (loss) | 147 | 147 | 0 | |||||
Repurchase of common shares | (2,074) | (1) | (114) | (1,959) | ||||
Other changes | (314) | (204) | (110) | |||||
Cash dividends declared preferred | (29) | (29) | ||||||
Cash dividends declared common | (1,152) | (1,152) | ||||||
Ending Balance at Jun. 30, 2025 | 32,311 | 0 | 140 | 11,052 | (3,248) | 24,367 | ||
Beginning Balance at Mar. 31, 2025 | 31,202 | 0 | 140 | 11,037 | (3,366) | 23,391 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 2,885 | 2,885 | ||||||
Other comprehensive income (loss) | 118 | 118 | 0 | |||||
Repurchase of common shares | (1,396) | 0 | (78) | (1,318) | ||||
Other changes | 93 | 93 | 0 | |||||
Cash dividends declared preferred | $ (15) | $ (15) | ||||||
Cash dividends declared common | (576) | (576) | ||||||
Ending Balance at Jun. 30, 2025 | $ 32,311 | $ 0 | $ 140 | $ 11,052 | $ (3,248) | $ 24,367 |
Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
Common stock, dividend per share (in dollars per share) | $ 0.82 | $ 0.70 | $ 1.64 | $ 1.40 |
Series D Preferred Stock | ||||
Preferred stock, dividend per share (in dollars per share) | $ 9,072.22 | $ 9,269.44 | $ 17,947.22 | $ 18,243.05 |
Basis of Presentation |
6 Months Ended |
---|---|
Jun. 30, 2025 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The Company We are a global payments and premium lifestyle brand powered by technology. Our colleagues around the world back our customers with differentiated products, services and experiences that enrich lives and build business success. Our various products and services are offered globally to consumers, small businesses, mid-sized companies and large corporations through various channels, including mobile and online applications, affiliate marketing, customer referral programs, third-party service providers and business partners, in-house sales teams, direct mail, telephone and direct response advertising. The accompanying Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2024 (the 2024 Form 10-K). If not materially different, certain note disclosures included therein have been omitted from these Consolidated Financial Statements. The interim Consolidated Financial Statements included in this report have not been audited. In the opinion of management, all adjustments, which consist of normal recurring adjustments necessary for a fair statement of the interim Consolidated Financial Statements, have been made. Results of operations reported for interim periods are not necessarily indicative of results for the entire year. The preparation of Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosures of contingent assets and liabilities. These accounting estimates reflect the best judgment of management, but actual results could differ. Certain reclassifications of prior period amounts have been made to conform to the current period presentation. Business Events Effective June 1, 2025, we reclassified $1.6 billion of Card Member loans related to the Amazon small business cobrand portfolio to Card Member loans HFS on the Consolidated Balance Sheets and released $144 million of associated reserve for credit losses, which was recognized within Provisions for credit losses in the Consolidated Statements of Income. On April 16, 2025, we completed the acquisition of Center ID Corp. (Center), an expense management software company. As a result of the acquisition, we recognized $590 million of Goodwill that is reported within our Commercial Services (CS) segment. On May 1, 2024, we completed the sale of fraud prevention solutions provider Accertify, Inc. (Accertify), a wholly owned subsidiary we acquired in 2010, the operations of which were reported within our Global Merchant and Network Services (GMNS) segment. The transaction resulted in a gain of $531 million ($479 million after tax), which was reported as a reduction to Other expense in the second quarter of 2024. Prior to the completion of the transaction, the carrying amount of Accertify’s net assets were not material to our financial position. Recently Issued Accounting Standards In December 2023, the Financial Accounting Standards Board issued updated accounting guidance on Disclosures for Income Taxes, effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted. The updated guidance requires additional disclosure and disaggregated information in the Income Tax Rate reconciliation using both percentages and reporting currency amounts, with additional qualitative explanations of individually significant reconciling items. The updated guidance also requires disclosure of the amount of income taxes paid (net of refunds received) disaggregated by jurisdictional categories (federal (national), state and foreign). We are currently assessing the updated guidance; however, it is not expected to have a material impact to our Consolidated Financial Statements. In November 2024 and as amended in January 2025, the Financial Accounting Standards Board issued updated accounting guidance on the Disaggregation of Income Statement Expenses for annual reporting periods beginning after December 15, 2026 and for interim reporting periods beginning December 15, 2027, with early adoption permitted. The updated guidance includes the requirement for a new tabular disclosure within a Note to the Consolidated Financial Statements, to disaggregate defined expense categories from the expense report lines presented on the Consolidated Statements of Income. We are currently assessing the updated guidance and its impact to our Consolidated Financial Statements.
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Loans and Card Member Receivables |
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Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Card Member Receivables | Loans and Card Member Receivables Our lending and charge payment card products that we offer to consumer, small business and corporate customers result in the generation of Card Member loans and Card Member receivables. We also extend credit to customers through financing products that are not associated with a Card Member agreement, and instead are governed by a separate borrowing relationship, resulting in Other loans. Card Member and Other loans as of June 30, 2025 and December 31, 2024 consisted of: Table 2.1: Card Member and Other Loans
(a)Includes approximately $26.7 billion and $28.3 billion of gross Card Member loans available to settle obligations of a consolidated variable interest entity (VIE) as of June 30, 2025 and December 31, 2024, respectively. (b)Other loans are presented net of reserves for credit losses of $272 million and $194 million as of June 30, 2025 and December 31, 2024, respectively. Card Member receivables as of June 30, 2025 and December 31, 2024 consisted of: Table 2.2: Card Member Receivables
(a)Includes $4.0 billion and $3.9 billion of gross Card Member receivables available to settle obligations of a consolidated VIE as of June 30, 2025 and December 31, 2024, respectively. Card Member Loans and Receivables Aging Generally, a Card Member account is considered past due if payment due is not received within 30 days after the billing statement date. The following tables present the aging of Card Member loans and receivables as of June 30, 2025 and December 31, 2024: Table 2.3: Card Member Loans and Receivables Aging
(a)For corporate accounts, delinquency data is tracked based on days past billing status rather than days past due. A Card Member account is considered 90 days past billing if payment has not been received within 90 days of the Card Member’s billing statement date. In addition, if we initiate collection procedures on an account prior to the account becoming 90 days past billing, the associated Card Member loan or receivable balance is classified as 90 days past billing. These amounts are shown above as 90+ Days Past Due for presentation purposes. See also (b). (b)Delinquency data for periods other than 90+ days past billing has not historically been available due to system constraints. Therefore, such data has not been a material input for risk management purposes. The balances that are current to 89 days past billing can be derived as the difference between the Total and the 90+ Days Past Due balances. (c)Our policy is generally to accrue interest through the date of write-off (typically 180 days past due). We establish reserves for interest that we believe will not be collected. (d)Non-accrual loans primarily include certain loans placed with outside collection agencies for which we have ceased accruing interest. Other Loans Aging and Gross Write-Offs by Origination Year Generally, a customer loan is considered past due if payment due is not received within 30 days after the payment due date. The following tables present the aging and gross write-offs for other loans by year of origination as of or for the six months ended June 30, 2025, and as of or for the twelve months ended December 31, 2024: Table 2.4: Other Loans Aging and Gross Write-Offs by Origination Year
(a)Revolving loans consist primarily of lines of credit offered to small business customers. (b)Over 90 days past due includes $6 million as of both June 30, 2025 and December 31, 2024 of loans on which interest is still accruing. Our policy is generally to accrue interest through the date of write-off (typically 120 days past due) except for lines of credit offered to small business customers, where interest ceases to accrue at 90 days past due. We establish reserves for interest that we believe will not be collected. (c)This total includes non-accrual loans of $19 million as of both June 30, 2025 and December 31, 2024. Non-accruals for consumer installment loans primarily include certain loans placed with outside collection agencies for which we have ceased accruing interest. Credit Quality Indicators for Loans and Card Member Receivables The following table presents the key credit quality indicators as of or for the six months ended June 30: Table 2.5: Credit Quality Indicators for Loans and Card Member Receivables
(a)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. (b)Net write-off rate based on principal losses only is not available due to system constraints. (c)For corporate receivables, delinquency data is tracked based on days past billing status rather than days past due. Delinquency data for periods other than 90+ days past billing is not available due to system constraints. 90+ days past billing as a % of total was 0.4% as of both June 30, 2025 and 2024. Refer to Note 3 for additional indicators, including external qualitative factors, management considers in its evaluation process for reserves for credit losses. Loans and Receivables Restructurings for Borrowers Experiencing Financial Difficulty We evaluate all loans and receivables restructurings according to the accounting guidance for loan refinancing and restructuring to determine whether such loan modification should be accounted for as a new loan or a continuation of the existing loan. Our loans and receivables restructurings for borrowers experiencing financial difficulty are generally accounted for as a continuation of the existing loan, which reflects the ongoing effort to support our customer and recover our investment in the existing loan. We offer several types of loans and receivables modification programs to customers experiencing financial difficulty. In such instances, we may modify loans and receivables with the intention to minimize losses and improve collectability, while providing customers with temporary or permanent financial relief. Such modifications to the loans and receivables primarily include (i) temporary interest rate reductions (reducing interest rates to as low as zero percent, in which case the loan is characterized as non-accrual), and/or (ii) placing the customer on a fixed payment plan not to exceed 60 months. Upon entering the modification program, the customer’s ability to make future purchases is limited, canceled or, in certain cases, suspended until the customer successfully exits from the modification program. As of June 30, 2025 and 2024, we had $38 million and $50 million, respectively, of unused credit available to customers with loans and receivables modified during each of the respective six month periods. In accordance with the modification agreement with the customer, loans and/or receivables may revert to the original contractual terms (including the contractual interest rate where applicable) when the customer exits the modification program, which is either (i) when all payments have been made in accordance with the modification agreement or (ii) when the customer defaults out of the modification program. The following tables provide information relating to loans and receivables modifications for borrowers experiencing financial difficulty during the three and six months ended June 30, 2025 and 2024: Table 2.6: Loans and Receivables Modifications for Borrowers experiencing Financial Difficulty
(a)Represents the outstanding balances as of June 30, 2025 and 2024, respectively, of all modifications undertaken in the current and preceding three and six months for loans and receivables that remain in modification programs as of, or that defaulted on or before, June 30, 2025 and 2024, respectively. The outstanding balances include principal, fees, and accrued interest on loans and principal and fees on receivables. Modifications did not reduce the principal balance. (b)For Card Member loans, we generally do not offer payment term extensions. (c)We do not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing. The following tables provide information with respect to modified loans and receivables that defaulted during the three and six months ended June 30, 2025 and 2024, and were modified in the twelve months prior to the payment default. A customer can miss up to three payments before being considered in default, depending on the terms of the modification program. Table 2.7: Modified Loans and Receivables that Defaulted within Twelve Months of Modification
(a)Represents the outstanding balances as of June 30, 2025 and 2024, respectively, of all modifications that defaulted in the periods presented and were modified in the twelve months prior to payment default. The outstanding balances include principal, fees and accrued interest on loans and principal and fees on receivables. (b)For Card Member loans, we generally do not offer payment term extensions. (c)We do not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing. The following tables provide information relating to the performance of loans and receivables that were modified during the prior twelve months and that remain in modification programs as of, or that defaulted on or before, June 30, 2025 and 2024: Table 2.8: Performance of Modified Loans and Receivables
(a)The outstanding balances include principal, fees and accrued interest on loans and principal and fees on receivables.
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Reserves for Credit Losses | Reserves for Credit Losses Reserves for credit losses represent our best estimate of the expected credit losses in our outstanding portfolio of Card Member loans and receivables as of the balance sheet date. The Current Expected Credit Loss (CECL) methodology requires us to estimate lifetime expected credit losses by incorporating historical loss experience, as well as current and future economic conditions over a reasonable and supportable period (R&S Period), which is approximately three years, beyond the balance sheet date. We make various judgments combined with historical loss experience to determine a reserve rate that is applied to the outstanding loan or receivable balance to produce a reserve for expected credit losses. We use a combination of statistically-based models that incorporate current and future economic conditions throughout the R&S Period. The process of estimating expected credit losses is based on several key models: Probability of Default (PD), Exposure at Default (EAD), and future recoveries for each month of the R&S Period. Beyond the R&S Period, we estimate expected credit losses by immediately reverting to long-term average loss rates. •PD models are used to estimate the likelihood an account will be written-off. •EAD models are used to estimate the balance of an account at the time of write-off. This includes balances less expected repayments based on historical payment and revolve behavior, which vary by customer. Due to the nature of revolving loan portfolios, the EAD models are complex and involve assumptions regarding the relationship between future spend and payment behaviors. •Recovery models are used to estimate amounts that are expected to be received from Card Members after default occurs, typically as a result of collection efforts. Future recoveries are estimated taking into consideration the time of default, time elapsed since default and macroeconomic conditions. We also estimate the likelihood and magnitude of recovery of previously written off accounts considering how long ago the account was written off and future economic conditions, even if such expected recoveries exceed expected losses. Our models are developed using historical loss experience covering the economic cycle and consider the impact of account characteristics on expected losses. This history includes the performance of loans and receivables modifications for borrowers experiencing financial difficulty, including their subsequent defaults. Future economic conditions that are incorporated over the R&S Period include multiple macroeconomic scenarios provided to us by an independent third party. Management reviews these economic scenarios each period and assigns probability weights to each scenario, generally with a consistent initial distribution. At times, due to macroeconomic uncertainty and volatility, management may apply judgment and assign different probability weights to scenarios. These macroeconomic scenarios contain certain variables, including unemployment rates and real gross domestic product (GDP), that are significant to our models. We also evaluate whether to include qualitative reserves to cover losses that are expected but, in our assessment, may not be adequately represented in the quantitative methods or the economic assumptions. We consider whether to adjust the quantitative reserves (higher or lower) to address possible limitations within the models or factors not included within the models, such as external conditions, emerging portfolio trends, the nature and size of the portfolio, portfolio concentrations, the volume and severity of past due accounts, or management risk actions. Lifetime losses for most of our loans and receivables are evaluated at an appropriate level of granularity, including assessment on a pooled basis where financial assets share similar risk characteristics, such as past spend and remittance behaviors, credit bureau scores where available, delinquency status, tenure of balance outstanding, amongst others. Credit losses on accrued interest are measured and presented as part of Reserves for credit losses on the Consolidated Balance Sheets and within the Provisions for credit losses in the Consolidated Statements of Income, rather than reversing interest income. For Other loans, we use vintage-based historical performance to estimate expected credit losses over the life of the loan, net of recovery estimates. Loans and receivable balances are written off when we consider amounts to be uncollectible, which is generally determined by the number of days past due and is typically no later than 180 days past due for Card Member loans and receivables and 120 days past due for Other loans. Balances in bankruptcy or owed by deceased individuals are generally written off upon notification. The following table reflects the range of macroeconomic scenario key variables available to us as of June 30, 2025 and December 31, 2024, respectively, which were used, in conjunction with other inputs, to calculate reserves for credit losses: Table 3.1: Key Macroeconomic Variables
(a)Real GDP quarter over quarter percentage change seasonally adjusted to annualized rates. Changes in Card Member Loans Reserve for Credit Losses Card Member loans reserve for credit losses increased for both the three and six months ended June 30, 2025, primarily driven by increases in loans outstanding and deterioration in the macroeconomic outlook used in our reserve models, partially offset by the release of a reserve upon the previously-mentioned reclassification of a small business cobrand portfolio to Card Member loans HFS. Card Member loans reserve for credit losses increased for both the three and six months ended June 30, 2024, primarily driven by increases in loans outstanding, partially offset for the three month period by lower delinquencies. The following table presents changes in the Card Member loans reserve for credit losses for the three and six months ended June 30: Table 3.2: Changes in Card Member Loans Reserve for Credit Losses
(a)Provisions for principal, interest and fee reserve components. Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. In addition, provisions for both the three and six months ended June 30, 2025 include the reserve release of $144 million upon the previously-mentioned reclassification of a small business cobrand portfolio to Card Member loans HFS in the second quarter of 2025. See Note 1 for additional information. (b)Principal write-offs are presented less recoveries of $242 million and $179 million for the three months ended June 30, 2025 and 2024, respectively, and $463 million and $338 million for the six months ended June 30, 2025 and 2024, respectively. Recoveries of interest and fees were not significant. (c)Primarily includes foreign currency translation adjustments. Changes in Card Member Receivables Reserve for Credit Losses Card Member receivables reserve for credit losses increased for both the three and six months ended June 30, 2025, primarily driven by increases in receivables outstanding and deterioration in the macroeconomic outlook. Card Member receivables reserve for credit losses increased for the three months ended June 30, 2024 and remained relatively flat for the six months ended June 30, 2024. The increase for the three months ended June 30, 2024 was primarily driven by an increase in receivables outstanding for U.S. consumer and U.S. small business customers. The following table presents changes in the Card Member receivables reserve for credit losses for the three and six months ended June 30: Table 3.3: Changes in Card Member Receivables Reserve for Credit Losses
(a)Provisions for principal and fee reserve components. Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. (b)Net write-offs are presented less recoveries of $74 million and $78 million for the three months ended June 30, 2025 and 2024, respectively, and $147 million and $154 million for the six months ended June 30, 2025 and 2024, respectively. (c)Primarily includes foreign currency translation adjustments. Changes in Other Loans Reserve for Credit Losses Other loans reserve for credit losses increased for each of the three and six months ended June 30, 2025 and 2024, primarily driven by increases in other loans outstanding. The following table presents changes in the Other loans reserve for credit losses for the three and six months ended June 30: Table 3.4: Changes in Other Loans Reserve for Credit Losses
(a)Provisions for principal, interest and fee reserve components. Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. (b)Principal write-offs are presented less recoveries of $8 million and $5 million for the three months ended June 30, 2025 and 2024, respectively, and $15 million and $9 million for the six months ended June 30, 2025 and 2024, respectively. Recoveries of interest and fees were not significant.
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Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Securities | Investment Securities Investment securities principally include available-for-sale (AFS) debt securities carried at fair value on the Consolidated Balance Sheets. Unrealized losses attributable to credit deterioration are recorded in the Consolidated Statements of Income in Other loans Provision for credit losses. Unrealized gains and any portion of a security’s unrealized loss attributable to non-credit losses are recorded in the Consolidated Statements of Comprehensive Income, net of tax. We had accrued interest on our AFS debt securities totaling $4 million and $3 million as of June 30, 2025 and December 31, 2024, respectively, presented as Other assets on the Consolidated Balance Sheets. Investment securities also include equity securities carried at fair value on the Consolidated Balance Sheets with unrealized gains and losses recorded in the Consolidated Statements of Income as Other, net expense. Realized gains and losses are recognized upon disposition of the securities using the specific identification method and recorded in the Consolidated Statements of Income as Other, net expense. The following is a summary of investment securities as of June 30, 2025 and December 31, 2024: Table 4.1: Investment Securities
(a)Represents mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. (b)Represents investments in debt securities issued by Community Development Financial Institutions. (c)Equity securities comprise investments in common stock and mutual funds. The following table provides information about our AFS debt securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position as of June 30, 2025 and December 31, 2024: Table 4.2: AFS Debt Securities with Gross Unrealized Losses by Duration
The gross unrealized losses on our AFS debt securities are primarily attributable to an increase in the current benchmark interest rate. Overall, for the AFS debt securities in gross unrealized loss positions, (i) we do not intend to sell the securities, (ii) it is more likely than not that we will not be required to sell the securities before recovery of the unrealized losses, and (iii) we expect that the contractual principal and interest will be received on the securities. We concluded that there was no credit loss attributable to the securities in an unrealized loss position for the periods presented. The following table summarizes the gross unrealized losses for AFS debt securities by ratio of fair value to amortized cost as of June 30, 2025 and December 31, 2024: Table 4.3: AFS Gross Unrealized Losses by Ratio of Fair Value to Amortized Cost
Contractual maturities for AFS debt securities with stated maturities as of June 30, 2025 were as follows: Table 4.4: Contractual Maturities of AFS Debt Securities
The expected payments on state and municipal obligations, U.S. Government agency obligations and mortgage-backed securities may not coincide with their contractual maturities because the issuers have the right to call or prepay certain obligations.
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Asset Securitizations |
6 Months Ended |
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Jun. 30, 2025 | |
Asset Securitizations [Abstract] | |
Asset Securitizations | Asset Securitizations We periodically securitize Card Member loans and receivables arising from our card businesses through the transfer of those assets to securitization trusts, American Express Credit Account Master Trust (the Lending Trust) and American Express Issuance Trust II (the Charge Trust and together with the Lending Trust, the Trusts). The Trusts then issue debt securities collateralized by the transferred assets to third-party investors. The Trusts are considered VIEs as they have insufficient equity at risk to finance their activities, which are to issue debt securities that are collateralized by the underlying Card Member loans and receivables. We perform the servicing and key decision making for the Trusts, and therefore have the power to direct the activities that most significantly impact the Trusts’ economic performance, which are the collection of the underlying Card Member loans and receivables. In addition, we hold all of the variable interests in both Trusts, with the exception of the debt securities issued to third-party investors. Our ownership of variable interests in the Lending Trust was $13.1 billion and $14.6 billion as of June 30, 2025 and December 31, 2024, respectively, and in the Charge Trust was $1.5 billion and $3.9 billion as of June 30, 2025 and December 31, 2024, respectively. These variable interests held by us provide us with the right to receive benefits and the obligation to absorb losses, which could be significant to both the Lending Trust and the Charge Trust. Based on these considerations, we are the primary beneficiary of the Trusts and therefore consolidate the Trusts. Restricted cash and cash equivalents held by the Lending Trust was $97 million and $88 million as of June 30, 2025 and December 31, 2024, respectively, and by the Charge Trust was $10 million and nil as of June 30, 2025 and December 31, 2024, respectively. These amounts relate to collections of Card Member loans and receivables to be used by the Trusts to fund future expenses and obligations, including interest on debt securities, credit losses and upcoming debt maturities. Under the respective terms of the Lending Trust and the Charge Trust agreements, the occurrence of certain triggering events associated with the performance of the assets of each Trust could result in payment of trust expenses, establishment of reserve funds, or, in a worst-case scenario, early amortization of debt securities. During the six months ended June 30, 2025 and the year ended December 31, 2024, no such triggering events occurred.
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Customer Deposits |
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Deposits [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Customer Deposits | Customer Deposits As of June 30, 2025 and December 31, 2024, customer deposits were categorized as interest-bearing or non-interest-bearing as follows: Table 6.1: Interest-bearing and Non-Interest-bearing Customer Deposits
Customer deposits by deposit type as of June 30, 2025 and December 31, 2024 were as follows: Table 6.2: Customer Deposits by Type
The scheduled maturities of certificates of deposit as of June 30, 2025 were as follows: Table 6.3: Scheduled Maturities of Certificates of Deposit
(a)Includes $11 million of non-U.S. direct certificates of deposit as of June 30, 2025. As of June 30, 2025 and December 31, 2024, certificates of deposit in denominations that met or exceeded the insured limit were $1.5 billion and $1.4 billion, respectively.
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Contingencies |
6 Months Ended |
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Jun. 30, 2025 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies | Contingencies In the ordinary course of business, we and our subsidiaries are subject to various pending and potential legal actions, arbitration proceedings, claims, investigations, examinations, regulatory proceedings, information gathering requests, subpoenas, inquiries and matters relating to compliance with laws and regulations (collectively, legal proceedings). Based on our current knowledge, and taking into consideration our litigation-related liabilities, we do not believe we are a party to, nor are any of our properties the subject of, any legal proceeding that would have a material adverse effect on our consolidated financial condition or liquidity. However, in light of the uncertainties involved in such matters, including the fact that some pending legal proceedings are at preliminary stages or seek an indeterminate amount of damages, penalties or fines, it is possible that the outcome of legal proceedings could have a material impact on our results of operations. Certain legal proceedings involving us or our subsidiaries are described below. On September 30, 2024, we were named as a defendant in a case filed in the United States District Court for the District of Massachusetts, captioned Pizza Hazel, Inc., et al. v. American Express Co., et al., in which plaintiffs allege that the anti-steering and non-discrimination provisions in our merchant agreements violate federal antitrust law and that the arbitration provision in our merchant agreements violates federal antitrust law to the extent it prevents antitrust challenges to our anti-steering and non-discrimination provisions. Plaintiffs seek, on behalf of themselves and a class of merchants that accept through the OptBlue Program, unspecified damages and an injunction prohibiting us from enforcing our anti-steering and non-discrimination provisions and prohibiting us from enforcing our arbitration provision to the extent the arbitration provision prevents antitrust challenges to our anti-steering and non-discrimination provisions. On March 21, 2024, we were named as a defendant in a case filed in the United States District Court for the District of Rhode Island, captioned 5-Star General Store aka Bento LLC, et al. v. American Express Co., et al., in which plaintiffs allege that the anti-steering and non-discrimination provisions in our merchant agreements violate federal antitrust law and seek, on behalf of themselves and a class of merchants, an injunction prohibiting us from enforcing our anti-steering and non-discrimination provisions and a declaration that we have violated antitrust laws. On January 29, 2019, we were named in a putative class action brought in the United States District Court for the Eastern District of New York, captioned Anthony Oliver, et al. v. American Express Company and American Express Travel Related Services Company Inc., in which the plaintiffs are holders of MasterCard, Visa and/or Discover credit and/or debit cards (but not American Express cards) and allege they paid higher prices as a result of the anti-steering and non-discrimination provisions in our merchant agreements in violation of federal antitrust law and the antitrust and consumer laws of various states. Plaintiffs seek unspecified damages and other forms of relief. The court dismissed plaintiffs’ federal antitrust claim, numerous state antitrust and consumer protection claims and their unjust enrichment claim. For the remaining state antitrust or consumer protection claims, the court certified classes for (i) holders of Visa and MasterCard debit cards in eight states and Washington, D.C.; and (ii) holders of Visa, MasterCard and Discover credit cards that do not offer rewards or charge an annual fee in two states and Washington, D.C. Trial is scheduled for July 2025. On March 8, 2016, plaintiffs B&R Supermarket, Inc. d/b/a Milam’s Market and Grove Liquors LLC, on behalf of themselves and others, filed a suit, captioned B&R Supermarket, Inc. d/b/a Milam’s Market, et al. v. Visa Inc., et al., for violations of the Sherman Antitrust Act, the Clayton Antitrust Act, California’s Cartwright Act and unjust enrichment in the United States District Court for the Northern District of California, against American Express Company, other credit and charge card networks, other issuing banks and EMVCo, LLC. Plaintiffs allege that the defendants, through EMVCo, conspired to shift liability for fraudulent, faulty and otherwise rejected consumer credit card transactions from themselves to merchants after the implementation of EMV chip payment terminals. Plaintiffs seek damages and injunctive relief. On May 4, 2017, the California court transferred the case to the United States District Court for the Eastern District of New York. On August 28, 2020, the court granted plaintiffs’ motion for class certification. On August 14, 2024, the court granted our motion to compel arbitration as to class members who are subject to our merchant agreements, but did not stay the claims pending arbitration. On November 15, 2024, we appealed to the Second Circuit requesting a stay of all claims against us that are subject to arbitration. On March 31, 2025, we reached an agreement in principle with the class representatives to settle this action, which is subject to negotiation of a complete stipulation of settlement and court approval. In 2006, Mawarid Investments Limited filed a request for confidential arbitration under the 1998 London Court of International Arbitration Rules in connection with certain claims arising under a shareholders agreement between Mawarid and American Express Travel Related Services Company, Inc. relating to a joint venture between the parties, Amex (Middle East) BSC(c) (AEME). In 2008, the tribunal rendered a partial award, including a direction that an audit should take place to verify whether acquirer discount revenue related to transactions occurring with airlines located in the Middle East region had been properly allocated to AEME since its inception in 1992. In September 2021, the tribunal rendered a further partial award regarding the location of transactions through non-physical channels. In May 2022, the tribunal further clarified the 2021 partial award and the discount rate that should apply to transactions through non-physical channels. In December 2024, the tribunal rendered a further partial award providing further clarifications on the allocation of revenue. A final award is expected in 2025. We are being challenged in a number of countries regarding our application of value-added taxes (VAT) to certain of our international transactions, which are in various stages of audit, or are being contested in legal actions. While we believe we have complied with all applicable tax laws, rules and regulations in the relevant jurisdictions, the tax authorities may determine that we owe additional VAT. In certain jurisdictions where we are contesting the assessments, we were required to pay the VAT assessments prior to contesting. Our legal proceedings range from cases brought by a single plaintiff to class actions with millions of putative class members to governmental proceedings. These legal proceedings involve various lines of business and a variety of claims (including, but not limited to, common law tort, contract, application of tax laws, antitrust and consumer protection claims), some of which present novel factual allegations and/or unique legal theories. While some matters pending against us specify the damages sought, many seek an unspecified amount of damages or are at very early stages of the legal process. Even when the amount of damages claimed against us are stated, the claimed amount may be exaggerated and/or unsupported. As a result, some matters have not yet progressed sufficiently through discovery and/or development of important factual information and legal issues to enable us to estimate an amount of loss or a range of possible loss, while other matters have progressed sufficiently such that we are able to estimate an amount of loss or a range of possible loss. We have accrued for certain of our outstanding legal proceedings. An accrual is recorded when it is both (a) probable that a loss has occurred and (b) the amount of loss can be reasonably estimated. There may be instances in which an exposure to loss exceeds the accrual. We evaluate, on a quarterly basis, developments in legal proceedings that could cause an increase or decrease in the amount of the accrual that has been previously recorded, or a revision to the disclosed estimated range of possible losses, as applicable. For those disclosed legal proceedings where a loss is reasonably possible in future periods, whether in excess of a recorded accrual for legal or tax contingencies, or where there is no such accrual, and for which we are able to estimate a range of possible loss, the current estimated range is zero to $210 million in excess of any accruals related to those matters. This range represents management’s estimate based on currently available information and does not represent our maximum loss exposure; actual results may vary significantly. As such legal proceedings evolve, we may need to increase our range of possible loss or recorded accruals. In addition, it is possible that significantly increased merchant steering or other actions impairing the Card Member experience as a result of an adverse resolution in one or any combination of the disclosed merchant cases could have a material adverse effect on our business and results of operations.
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Derivatives and Hedging Activities |
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives and Hedging Activities | Derivatives and Hedging Activities We use derivative financial instruments to manage exposures to various market risks. These instruments derive their value from an underlying variable or multiple variables, including interest rates and foreign exchange rates, and are carried at fair value on the Consolidated Balance Sheets. These instruments enable end users to increase, reduce or alter exposure to various market risks and, for that reason, are an integral component of our market risk management. We do not transact in derivatives for trading purposes. A majority of our derivative assets and liabilities as of June 30, 2025 and December 31, 2024 are subject to master netting agreements with our derivative counterparties. Accordingly, where appropriate, we have elected to present derivative assets and liabilities with the same counterparty on a net basis in the Consolidated Balance Sheets. In relation to our credit risk, certain of our bilateral derivative agreements include provisions that allow our counterparties to terminate the relevant agreement in the event of a downgrade of our debt credit rating below investment grade and settle the outstanding net liability position. As of June 30, 2025, these derivatives were not in a material net liability position. Based on our assessment of the credit risk of our derivative counterparties and our own credit risk as of June 30, 2025 and December 31, 2024, no credit risk adjustment to the derivative portfolio was required. The following table summarizes the total fair value, excluding interest accruals, of derivative assets and liabilities as of June 30, 2025 and December 31, 2024: Table 8.1: Fair Value of Derivative Assets and Liabilities
(a)For our centrally cleared derivatives, variation margin payments are legally characterized as settlement payments as opposed to collateral. (b)Represents the amount of netting of derivative assets and derivative liabilities executed with the same counterparty under an enforceable master netting arrangement. (c)Represents the offsetting of the fair value of bilateral interest rate contracts and certain foreign exchange contracts with the right to cash collateral held from the counterparty or cash collateral posted with the counterparty. We posted $622 million and $368 million as of June 30, 2025 and December 31, 2024, respectively, as initial margin on our centrally cleared interest rate swaps; such amounts are recorded within Other assets on the Consolidated Balance Sheets and are not netted against the derivative balances. Fair Value Hedges We are exposed to interest rate risk associated with our fixed-rate debt obligations. At the time of issuance, certain fixed-rate long-term debt obligations are designated in fair value hedging relationships, using interest rate swaps, to economically convert the fixed interest rate to a floating interest rate. We had $30.2 billion and $18.9 billion of fixed-rate debt obligations designated in fair value hedging relationships as of June 30, 2025 and December 31, 2024, respectively. The following table presents the gains and losses recognized in Interest expense on the Consolidated Statements of Income associated with the fair value hedges of our fixed-rate long-term debt for the three and six months ended June 30: Table 8.2: Gains and Losses associated with Fair Value Hedges on Fixed-rate Long Term Debt
The carrying values of the hedged liabilities, recorded within Long-term debt on the Consolidated Balance Sheets, were $30.5 billion and $18.9 billion as of June 30, 2025 and December 31, 2024, respectively, including the cumulative amount of fair value hedging adjustments of $427 million and $27 million for the respective periods. We recognized in Interest expense on Long-term debt net increases of $29 million and $69 million for the three months ended June 30, 2025 and 2024, respectively, and net increases of $41 million and $132 million for the six months ended June 30, 2025 and 2024, respectively, primarily related to the net settlements including interest accruals on our interest rate derivatives designated as fair value hedges. Net Investment Hedges A net investment hedge is used to hedge future changes in currency exposure of a net investment in a foreign operation. We primarily designate foreign currency derivatives (typically foreign exchange forwards) and, in certain cases, we also designate foreign currency-denominated debt, as hedging instruments to reduce our exposure to changes in currency exchange rates on net investments in foreign subsidiaries with non-U.S. dollar functional currency. We had notional amounts of approximately $15.2 billion and $14.3 billion designated as net investment hedges as of June 30, 2025 and December 31, 2024, respectively. The gain or loss on these net investment hedges, net of taxes, recorded in Accumulated other comprehensive income (loss) (AOCI) as part of the cumulative translation adjustment, was a loss of $551 million and a gain of $197 million for the three months ended June 30, 2025 and 2024, respectively, and a loss of $749 million and a gain of $283 million for the six months ended June 30, 2025 and 2024, respectively. Net investment hedge reclassifications out of AOCI into the Consolidated Statements of Income were not significant for any of the three and the six months ended June 30, 2025 and 2024. Derivatives Not Designated as Hedges The changes in the fair value of derivatives that are not designated as hedges are primarily intended to offset the related foreign exchange gains or losses of the underlying foreign currency exposures. We had notional amounts of approximately $31.4 billion and $28.8 billion as of June 30, 2025 and December 31, 2024, respectively. The changes in the fair value of the derivatives and the related underlying foreign currency exposures resulted in net gains of $4 million and $27 million for the three months ended June 30, 2025 and 2024, respectively, and net gains of $19 million and $43 million for the six months ended June 30, 2025 and 2024, respectively, that are recognized in Other, net expenses in the Consolidated Statements of Income. Our embedded derivative related to seller earnout shares granted to us upon the completion of a business combination in the second quarter of 2022 between our equity method investee, American Express Global Business Travel, and Apollo Strategic Growth Capital had a notional amount of $78 million as of both June 30, 2025 and December 31, 2024. The changes in the fair value of the embedded derivative resulted in a loss of $7 million and a gain of $3 million for the three months ended June 30, 2025 and 2024, respectively, and losses of $24 million and $1 million for the six months ended June 30, 2025 and 2024, respectively, which were recognized in Service fees and other revenue in the Consolidated Statements of Income.
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Fair Values |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Values | Fair Values Financial Assets and Financial Liabilities Carried at Fair Value The following table summarizes our financial assets and financial liabilities measured at fair value on a recurring basis, categorized by GAAP’s fair value hierarchy, as of June 30, 2025 and December 31, 2024: Table 9.1: Financial Assets and Financial Liabilities measured at Fair Value
(a)Refer to Note 4 for the fair values of investment securities and to Note 8 for the fair values of derivative assets and liabilities on a further disaggregated basis. (b)Level 3 fair value reflects an embedded derivative. Management reviews and applies judgment to the valuation of the embedded derivative that is performed by an independent third party using a Monte Carlo simulation that models a range of probable future stock prices based on implied volatility in a risk neutral framework. Refer to Note 8 for additional information about this embedded derivative. Financial Assets and Financial Liabilities Carried at Other Than Fair Value The following tables summarize the estimated fair values of our financial assets and financial liabilities that are measured at amortized cost, and not required to be carried at fair value on a recurring basis, as of June 30, 2025 and December 31, 2024. The fair values of these financial instruments are estimates based upon the market conditions and perceived risks as of June 30, 2025 and December 31, 2024, and require management’s judgment. These figures may not be indicative of future fair values, nor can the fair value of American Express be estimated by aggregating the amounts presented. Table 9.2: Fair Value of Financial Assets and Financial Liabilities measured at Amortized Cost
(a)Level 2 fair value amounts reflect time deposits and short-term investments. (b)Balances include Card Member receivables (including fair values of Card Member receivables of $4.0 billion and $3.9 billion held by a consolidated VIE as of June 30, 2025 and December 31, 2024, respectively), other receivables and other miscellaneous assets. (c)Balances include amounts held by a consolidated VIE for which the fair values of Card Member loans were $26.7 billion and $28.3 billion as of June 30, 2025 and December 31, 2024, respectively, and the fair values of Long-term debt were $16.5 billion and $14.0 billion as of June 30, 2025 and December 31, 2024, respectively. (d)Presented as a component of Customer deposits on the Consolidated Balance Sheets. Nonrecurring Fair Value Measurements We have certain assets that are subject to measurement at fair value on a nonrecurring basis. Equity investments without readily determinable fair values, which include investments in our Amex Ventures portfolio, are measured at fair value in periods subsequent to their initial recognition if they are determined to be impaired or where there is an observable price change for an identical or similar investment of the same issuer. We generally estimate the fair value of these investments based on the observed transaction price. In addition, impairments on such investments are recorded to account for the difference between the estimated fair value and carrying value of an investment based on a qualitative assessment of impairment indicators such as business performance, general market conditions and the economic and regulatory environment. When an impairment triggering event occurs, the fair value measurement is generally derived by taking into account all available information, such as share prices of publicly traded peer companies, internal valuations performed by our investees, and other third-party fair value data. The fair value of these investments represents a Level 3 fair value measurement. The carrying value of equity investments without readily determinable fair values totaled $1.0 billion and $0.9 billion as of June 30, 2025 and December 31, 2024, respectively, of which investments subject to nonrecurring Level 3 fair value measurement during the six months ended June 30, 2025 and the year ended December 31, 2024 totaled $0.4 billion and $1 million, respectively. These amounts are included within Other assets on the Consolidated Balance Sheets. We recorded unrealized gains of $91 million for both the three and six months ended June 30, 2025, and $67 million for both the three and six months ended June 30, 2024. Unrealized losses were nil and $11 million for the three months ended June 30, 2025 and 2024, respectively, and $38 million and $11 million for the six months ended June 30, 2025 and 2024, respectively. Unrealized gains and losses are recorded in Other, net on the Consolidated Statements of Income. Since the adoption of new accounting guidance on the recognition and measurement of financial assets and financial liabilities on January 1, 2018, cumulative unrealized gains and losses for equity investments without readily determinable fair values totaled $1.2 billion and $0.5 billion as of June 30, 2025, respectively. In addition, we also have certain equity investments measured at fair value using the net asset value practical expedient. Such investments were immaterial as of both June 30, 2025 and December 31, 2024.
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Guarantees |
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Jun. 30, 2025 | |
Guarantees [Abstract] | |
Guarantees | Guarantees The maximum potential undiscounted future payments and related liability resulting from guarantees and indemnifications provided by us in the ordinary course of business were $1 billion and $11 million, respectively, as of June 30, 2025 and $1 billion and $10 million, respectively, as of December 31, 2024, all of which were primarily related to our real estate arrangements and business dispositions. To date, we have not experienced any significant losses related to guarantees or indemnifications. Our recognition of these instruments is at fair value. In addition, we establish reserves when a loss is probable and the amount can be reasonably estimated.
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Changes in Accumulated Other Comprehensive Income (Loss) |
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Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in Accumulated Other Comprehensive Income (Loss) | Changes In Accumulated Other Comprehensive Income (Loss) AOCI is comprised of items that have not been recognized in earnings but may be recognized in earnings in the future when certain events occur. Changes in each component for the three and six months ended June 30, 2025 and 2024 were as follows: Table 11.1: Changes in Accumulated Other Comprehensive Income (Loss)
(a)Refer to Note 8 for additional information on hedging activity. The following table shows the tax impact for the three and six months ended June 30 for the changes in each component of AOCI presented above: Table 11.2: Tax Impact for Changes in Accumulated Other Comprehensive Income (Loss)
Reclassifications out of AOCI into the Consolidated Statements of Income, net of taxes, for the three and six months ended June 30, 2025 and 2024 were not significant.
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Service Fees and Other Revenue and Other Expenses |
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Service Fees and Other Revenue and Other Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Fees and Other Revenue and Other Expenses | Service Fees and Other Revenue and Other Expenses The following is a detail of Service fees and other revenue for the three and six months ended June 30: Table 12.1: Components of Service Fees and Other Revenue
(a)Effective for the first quarter of 2025, Network partnership revenue, previously reported as Processed revenue on our Consolidated Statements of Income, is consolidated within Service fees and other revenue. Prior period amounts have been recast to conform to the current period presentation. (b)Effective for the first quarter of 2025, the revenue line previously reported as Service fees was renamed to Loyalty coalition, merchant and other service fees to better reflect its nature and components. The following is a detail of Other expenses for the three and six months ended June 30: Table 12.2: Components of Other Expense
(a) Refer to Note 1 for additional information.
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Income Taxes |
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Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes | Income Taxes The effective tax rate was 18.7 percent and 20.4 percent for the three months ended June 30, 2025 and 2024, respectively and 20.5 percent and 21.4 percent for the six months ended June 30, 2025 and 2024, respectively. The lower effective tax rates for the three and six month periods primarily reflected discrete tax benefits in the current periods relating to the resolution of certain prior-year tax items. We are under continuous examination by the Internal Revenue Service (IRS) and tax authorities in other countries and states in which we have significant business operations. The tax years under examination and open for examination vary by jurisdiction. We are currently under examination by the IRS for the 2017 and 2018 tax years. In 2024, we received a Notice of Proposed Adjustment (Notice) from the IRS regarding transfer pricing between our U.S. and foreign subsidiaries for the 2017 and 2018 tax years currently under examination. The Notice proposes an increase to our U.S. taxable income that would result in an additional estimated U.S. federal income tax payment of approximately $185 million for 2017 and 2018, excluding interest and state income taxes, and asserts penalties of approximately $50 million for the same period. Although the Notice only applies to the 2017 and 2018 tax years currently under examination, the IRS may seek similar adjustments for subsequent tax years. We strongly disagree with the IRS’s positions and plan to pursue all available remedies to vigorously contest the adjustments made by the IRS. We believe our income tax reserves are appropriate for all open tax years and that final resolution of this matter will not have a material impact on our results of operations. However, the ultimate outcome of this matter is uncertain, and if we are required to pay the IRS additional U.S. taxes, interest and/or potential penalties, our results of operations could be materially affected for the period in which the matter is resolved. We believe it is reasonably possible that our unrecognized tax benefits could decrease within the next twelve months by as much as $126 million, principally as a result of potential resolutions of prior years’ tax items with various taxing authorities. The prior years’ tax items include unrecognized tax benefits relating to the deductibility of certain expenses or losses and the attribution of taxable income to a particular jurisdiction or jurisdictions. Of the $126 million of unrecognized tax benefits, approximately $99 million relates to amounts that, if recognized, would impact the effective tax rate in a future period. Tax Credit Investments As of June 30, 2025 and 2024, we had $1,697 million and $1,577 million in tax credit investments, respectively, included in Other assets on the Consolidated Balance Sheets, comprised of Low Income Housing Tax Credit investments and other qualifying investments. We account for such tax credit investments using the Proportional Amortization Method. The following table presents tax credit investment expenses and associated income tax credits and other income tax benefits for the three and six months ended June 30: Table 13.1: Tax Credit Investments Expenses and Credits
Income tax credits and other income tax benefits associated with our tax credit investments are also recognized in the Consolidated Statements of Cash Flows in the Operating activities section primarily under Accounts payable and other liabilities. Refer to Note 6 to our “Consolidated Financial Statements” in the 2024 Form 10-K for additional information on our tax credit investments for the year ended December 31, 2024.
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Earnings Per Common Share (EPS) |
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Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Common Share (EPS) | Earnings Per Common Share (EPS) The computations of basic and diluted EPS for the three and six months ended June 30 were as follows: Table 14.1: Computation of Basic and Diluted Earnings per Share
(a)Our unvested restricted stock awards, which include the right to receive non-forfeitable dividends or dividend equivalents, are considered participating securities. Calculations of EPS under the two-class method exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities. The related participating securities are similarly excluded from the denominator. (b)The dilutive effect of unexercised stock options excludes from the computation of EPS 0.2 million and 0.1 million of options for the three months ended June 30, 2025 and 2024, respectively, and 0.1 million of options for both the six months ended June 30, 2025 and 2024 because inclusion of the options would have been anti-dilutive.
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Reportable Operating Segments |
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reportable Operating Segments | Reportable Operating Segments The following tables present certain selected financial information for our reportable operating segments and Corporate & Other as of or for the three and six months ended June 30: Table 15.1: Selected Financial Information by Segment
(a)Corporate & Other includes adjustments and eliminations for intersegment activity. (b)Includes discount revenue and certain service fees and other revenue from customers. (c)Card Member rewards, business development and Card Member services expenses are generally correlated to volumes or are variable based on usage.
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Pay vs Performance Disclosure - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
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Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
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Pay vs Performance Disclosure | ||||
Net Income (Loss) | $ 2,885 | $ 3,015 | $ 5,469 | $ 5,452 |
Insider Trading Arrangements |
3 Months Ended |
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Jun. 30, 2025 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Basis of Presentation (Policies) |
6 Months Ended |
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Jun. 30, 2025 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | The preparation of Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosures of contingent assets and liabilities. These accounting estimates reflect the best judgment of management, but actual results could differ.
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Reclassifications | Certain reclassifications of prior period amounts have been made to conform to the current period presentation.
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Recently Issued Accounting Standards | Recently Issued Accounting Standards In December 2023, the Financial Accounting Standards Board issued updated accounting guidance on Disclosures for Income Taxes, effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted. The updated guidance requires additional disclosure and disaggregated information in the Income Tax Rate reconciliation using both percentages and reporting currency amounts, with additional qualitative explanations of individually significant reconciling items. The updated guidance also requires disclosure of the amount of income taxes paid (net of refunds received) disaggregated by jurisdictional categories (federal (national), state and foreign). We are currently assessing the updated guidance; however, it is not expected to have a material impact to our Consolidated Financial Statements. In November 2024 and as amended in January 2025, the Financial Accounting Standards Board issued updated accounting guidance on the Disaggregation of Income Statement Expenses for annual reporting periods beginning after December 15, 2026 and for interim reporting periods beginning December 15, 2027, with early adoption permitted. The updated guidance includes the requirement for a new tabular disclosure within a Note to the Consolidated Financial Statements, to disaggregate defined expense categories from the expense report lines presented on the Consolidated Statements of Income. We are currently assessing the updated guidance and its impact to our Consolidated Financial Statements.
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Reserves for Credit Losses | Reserves for credit losses represent our best estimate of the expected credit losses in our outstanding portfolio of Card Member loans and receivables as of the balance sheet date. The Current Expected Credit Loss (CECL) methodology requires us to estimate lifetime expected credit losses by incorporating historical loss experience, as well as current and future economic conditions over a reasonable and supportable period (R&S Period), which is approximately three years, beyond the balance sheet date. We make various judgments combined with historical loss experience to determine a reserve rate that is applied to the outstanding loan or receivable balance to produce a reserve for expected credit losses. We use a combination of statistically-based models that incorporate current and future economic conditions throughout the R&S Period. The process of estimating expected credit losses is based on several key models: Probability of Default (PD), Exposure at Default (EAD), and future recoveries for each month of the R&S Period. Beyond the R&S Period, we estimate expected credit losses by immediately reverting to long-term average loss rates. •PD models are used to estimate the likelihood an account will be written-off. •EAD models are used to estimate the balance of an account at the time of write-off. This includes balances less expected repayments based on historical payment and revolve behavior, which vary by customer. Due to the nature of revolving loan portfolios, the EAD models are complex and involve assumptions regarding the relationship between future spend and payment behaviors. •Recovery models are used to estimate amounts that are expected to be received from Card Members after default occurs, typically as a result of collection efforts. Future recoveries are estimated taking into consideration the time of default, time elapsed since default and macroeconomic conditions. We also estimate the likelihood and magnitude of recovery of previously written off accounts considering how long ago the account was written off and future economic conditions, even if such expected recoveries exceed expected losses. Our models are developed using historical loss experience covering the economic cycle and consider the impact of account characteristics on expected losses. This history includes the performance of loans and receivables modifications for borrowers experiencing financial difficulty, including their subsequent defaults. Future economic conditions that are incorporated over the R&S Period include multiple macroeconomic scenarios provided to us by an independent third party. Management reviews these economic scenarios each period and assigns probability weights to each scenario, generally with a consistent initial distribution. At times, due to macroeconomic uncertainty and volatility, management may apply judgment and assign different probability weights to scenarios. These macroeconomic scenarios contain certain variables, including unemployment rates and real gross domestic product (GDP), that are significant to our models. We also evaluate whether to include qualitative reserves to cover losses that are expected but, in our assessment, may not be adequately represented in the quantitative methods or the economic assumptions. We consider whether to adjust the quantitative reserves (higher or lower) to address possible limitations within the models or factors not included within the models, such as external conditions, emerging portfolio trends, the nature and size of the portfolio, portfolio concentrations, the volume and severity of past due accounts, or management risk actions. Lifetime losses for most of our loans and receivables are evaluated at an appropriate level of granularity, including assessment on a pooled basis where financial assets share similar risk characteristics, such as past spend and remittance behaviors, credit bureau scores where available, delinquency status, tenure of balance outstanding, amongst others. Credit losses on accrued interest are measured and presented as part of Reserves for credit losses on the Consolidated Balance Sheets and within the Provisions for credit losses in the Consolidated Statements of Income, rather than reversing interest income. For Other loans, we use vintage-based historical performance to estimate expected credit losses over the life of the loan, net of recovery estimates. Loans and receivable balances are written off when we consider amounts to be uncollectible, which is generally determined by the number of days past due and is typically no later than 180 days past due for Card Member loans and receivables and 120 days past due for Other loans. Balances in bankruptcy or owed by deceased individuals are generally written off upon notification.
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Investment Securities | Investment securities principally include available-for-sale (AFS) debt securities carried at fair value on the Consolidated Balance Sheets. Unrealized losses attributable to credit deterioration are recorded in the Consolidated Statements of Income in Other loans Provision for credit losses. Unrealized gains and any portion of a security’s unrealized loss attributable to non-credit losses are recorded in the Consolidated Statements of Comprehensive Income, net of tax. Investment securities also include equity securities carried at fair value on the Consolidated Balance Sheets with unrealized gains and losses recorded in the Consolidated Statements of Income as Other, net expense. Realized gains and losses are recognized upon disposition of the securities using the specific identification method and recorded in the Consolidated Statements of Income as Other, net expense.
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Asset Securitizations | We periodically securitize Card Member loans and receivables arising from our card businesses through the transfer of those assets to securitization trusts, American Express Credit Account Master Trust (the Lending Trust) and American Express Issuance Trust II (the Charge Trust and together with the Lending Trust, the Trusts). The Trusts then issue debt securities collateralized by the transferred assets to third-party investors. The Trusts are considered VIEs as they have insufficient equity at risk to finance their activities, which are to issue debt securities that are collateralized by the underlying Card Member loans and receivables. We perform the servicing and key decision making for the Trusts, and therefore have the power to direct the activities that most significantly impact the Trusts’ economic performance, which are the collection of the underlying Card Member loans and receivables. In addition, we hold all of the variable interests in both Trusts, with the exception of the debt securities issued to third-party investors.These variable interests held by us provide us with the right to receive benefits and the obligation to absorb losses, which could be significant to both the Lending Trust and the Charge Trust. Based on these considerations, we are the primary beneficiary of the Trusts and therefore consolidate the Trusts.
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Contingencies | We have accrued for certain of our outstanding legal proceedings. An accrual is recorded when it is both (a) probable that a loss has occurred and (b) the amount of loss can be reasonably estimated. There may be instances in which an exposure to loss exceeds the accrual. We evaluate, on a quarterly basis, developments in legal proceedings that could cause an increase or decrease in the amount of the accrual that has been previously recorded, or a revision to the disclosed estimated range of possible losses, as applicable. For those disclosed legal proceedings where a loss is reasonably possible in future periods, whether in excess of a recorded accrual for legal or tax contingencies, or where there is no such accrual, and for which we are able to estimate a range of possible loss, the current estimated range is zero to $210 million in excess of any accruals related to those matters. This range represents management’s estimate based on currently available information and does not represent our maximum loss exposure; actual results may vary significantly. As such legal proceedings evolve, we may need to increase our range of possible loss or recorded accruals. In addition, it is possible that significantly increased merchant steering or other actions impairing the Card Member experience as a result of an adverse resolution in one or any combination of the disclosed merchant cases could have a material adverse effect on our business and results of operations.
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Derivatives | A majority of our derivative assets and liabilities as of June 30, 2025 and December 31, 2024 are subject to master netting agreements with our derivative counterparties. Accordingly, where appropriate, we have elected to present derivative assets and liabilities with the same counterparty on a net basis in the Consolidated Balance Sheets. We primarily designate foreign currency derivatives (typically foreign exchange forwards) and, in certain cases, we also designate foreign currency-denominated debt, as hedging instruments to reduce our exposure to changes in currency exchange rates on net investments in foreign subsidiaries with non-U.S. dollar functional currency.The changes in the fair value of derivatives that are not designated as hedges are primarily intended to offset the related foreign exchange gains or losses of the underlying foreign currency exposures.
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Fair Values | We have certain assets that are subject to measurement at fair value on a nonrecurring basis. Equity investments without readily determinable fair values, which include investments in our Amex Ventures portfolio, are measured at fair value in periods subsequent to their initial recognition if they are determined to be impaired or where there is an observable price change for an identical or similar investment of the same issuer. We generally estimate the fair value of these investments based on the observed transaction price. In addition, impairments on such investments are recorded to account for the difference between the estimated fair value and carrying value of an investment based on a qualitative assessment of impairment indicators such as business performance, general market conditions and the economic and regulatory environment. When an impairment triggering event occurs, the fair value measurement is generally derived by taking into account all available information, such as share prices of publicly traded peer companies, internal valuations performed by our investees, and other third-party fair value data. The fair value of these investments represents a Level 3 fair value measurement.
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Guarantees | Our recognition of these instruments is at fair value. In addition, we establish reserves when a loss is probable and the amount can be reasonably estimated. |
Loans and Card Member Receivables (Tables) |
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Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Card member and other loan detail | Card Member and Other loans as of June 30, 2025 and December 31, 2024 consisted of: Table 2.1: Card Member and Other Loans
(a)Includes approximately $26.7 billion and $28.3 billion of gross Card Member loans available to settle obligations of a consolidated variable interest entity (VIE) as of June 30, 2025 and December 31, 2024, respectively. (b)Other loans are presented net of reserves for credit losses of $272 million and $194 million as of June 30, 2025 and December 31, 2024, respectively. Card Member receivables as of June 30, 2025 and December 31, 2024 consisted of: Table 2.2: Card Member Receivables
(a)Includes $4.0 billion and $3.9 billion of gross Card Member receivables available to settle obligations of a consolidated VIE as of June 30, 2025 and December 31, 2024, respectively.
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Aging of receivables | The following tables present the aging of Card Member loans and receivables as of June 30, 2025 and December 31, 2024: Table 2.3: Card Member Loans and Receivables Aging
(a)For corporate accounts, delinquency data is tracked based on days past billing status rather than days past due. A Card Member account is considered 90 days past billing if payment has not been received within 90 days of the Card Member’s billing statement date. In addition, if we initiate collection procedures on an account prior to the account becoming 90 days past billing, the associated Card Member loan or receivable balance is classified as 90 days past billing. These amounts are shown above as 90+ Days Past Due for presentation purposes. See also (b). (b)Delinquency data for periods other than 90+ days past billing has not historically been available due to system constraints. Therefore, such data has not been a material input for risk management purposes. The balances that are current to 89 days past billing can be derived as the difference between the Total and the 90+ Days Past Due balances. (c)Our policy is generally to accrue interest through the date of write-off (typically 180 days past due). We establish reserves for interest that we believe will not be collected. (d)Non-accrual loans primarily include certain loans placed with outside collection agencies for which we have ceased accruing interest. The following tables present the aging and gross write-offs for other loans by year of origination as of or for the six months ended June 30, 2025, and as of or for the twelve months ended December 31, 2024:Table 2.4: Other Loans Aging and Gross Write-Offs by Origination Year
(a)Revolving loans consist primarily of lines of credit offered to small business customers. (b)Over 90 days past due includes $6 million as of both June 30, 2025 and December 31, 2024 of loans on which interest is still accruing. Our policy is generally to accrue interest through the date of write-off (typically 120 days past due) except for lines of credit offered to small business customers, where interest ceases to accrue at 90 days past due. We establish reserves for interest that we believe will not be collected. (c)This total includes non-accrual loans of $19 million as of both June 30, 2025 and December 31, 2024. Non-accruals for consumer installment loans primarily include certain loans placed with outside collection agencies for which we have ceased accruing interest.
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Credit quality indicators for loans and receivables | The following table presents the key credit quality indicators as of or for the six months ended June 30: Table 2.5: Credit Quality Indicators for Loans and Card Member Receivables
(a)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. (b)Net write-off rate based on principal losses only is not available due to system constraints. (c)For corporate receivables, delinquency data is tracked based on days past billing status rather than days past due. Delinquency data for periods other than 90+ days past billing is not available due to system constraints. 90+ days past billing as a % of total was 0.4% as of both June 30, 2025 and 2024.
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Modifications of loans and receivables | The following tables provide information relating to loans and receivables modifications for borrowers experiencing financial difficulty during the three and six months ended June 30, 2025 and 2024: Table 2.6: Loans and Receivables Modifications for Borrowers experiencing Financial Difficulty
(a)Represents the outstanding balances as of June 30, 2025 and 2024, respectively, of all modifications undertaken in the current and preceding three and six months for loans and receivables that remain in modification programs as of, or that defaulted on or before, June 30, 2025 and 2024, respectively. The outstanding balances include principal, fees, and accrued interest on loans and principal and fees on receivables. Modifications did not reduce the principal balance. (b)For Card Member loans, we generally do not offer payment term extensions. (c)We do not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing. The following tables provide information relating to the performance of loans and receivables that were modified during the prior twelve months and that remain in modification programs as of, or that defaulted on or before, June 30, 2025 and 2024: Table 2.8: Performance of Modified Loans and Receivables
(a)The outstanding balances include principal, fees and accrued interest on loans and principal and fees on receivables.
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Modified loans and receivables that subsequently defaulted | The following tables provide information with respect to modified loans and receivables that defaulted during the three and six months ended June 30, 2025 and 2024, and were modified in the twelve months prior to the payment default. A customer can miss up to three payments before being considered in default, depending on the terms of the modification program. Table 2.7: Modified Loans and Receivables that Defaulted within Twelve Months of Modification
(a)Represents the outstanding balances as of June 30, 2025 and 2024, respectively, of all modifications that defaulted in the periods presented and were modified in the twelve months prior to payment default. The outstanding balances include principal, fees and accrued interest on loans and principal and fees on receivables. (b)For Card Member loans, we generally do not offer payment term extensions. (c)We do not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing.
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Reserves for Credit Losses (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of key variables in macroeconomic scenarios utilized for computation of reserves for credit losses | The following table reflects the range of macroeconomic scenario key variables available to us as of June 30, 2025 and December 31, 2024, respectively, which were used, in conjunction with other inputs, to calculate reserves for credit losses: Table 3.1: Key Macroeconomic Variables
(a)Real GDP quarter over quarter percentage change seasonally adjusted to annualized rates.
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Schedule of changes in card member loans, receivables, and other loans | The following table presents changes in the Card Member loans reserve for credit losses for the three and six months ended June 30: Table 3.2: Changes in Card Member Loans Reserve for Credit Losses
(a)Provisions for principal, interest and fee reserve components. Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. In addition, provisions for both the three and six months ended June 30, 2025 include the reserve release of $144 million upon the previously-mentioned reclassification of a small business cobrand portfolio to Card Member loans HFS in the second quarter of 2025. See Note 1 for additional information. (b)Principal write-offs are presented less recoveries of $242 million and $179 million for the three months ended June 30, 2025 and 2024, respectively, and $463 million and $338 million for the six months ended June 30, 2025 and 2024, respectively. Recoveries of interest and fees were not significant. (c)Primarily includes foreign currency translation adjustments. The following table presents changes in the Card Member receivables reserve for credit losses for the three and six months ended June 30: Table 3.3: Changes in Card Member Receivables Reserve for Credit Losses
(a)Provisions for principal and fee reserve components. Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. (b)Net write-offs are presented less recoveries of $74 million and $78 million for the three months ended June 30, 2025 and 2024, respectively, and $147 million and $154 million for the six months ended June 30, 2025 and 2024, respectively. (c)Primarily includes foreign currency translation adjustments. The following table presents changes in the Other loans reserve for credit losses for the three and six months ended June 30: Table 3.4: Changes in Other Loans Reserve for Credit Losses
(a)Provisions for principal, interest and fee reserve components. Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. (b)Principal write-offs are presented less recoveries of $8 million and $5 million for the three months ended June 30, 2025 and 2024, respectively, and $15 million and $9 million for the six months ended June 30, 2025 and 2024, respectively. Recoveries of interest and fees were not significant.
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Investment Securities (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of available for sale securities by type | The following is a summary of investment securities as of June 30, 2025 and December 31, 2024: Table 4.1: Investment Securities
(a)Represents mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. (b)Represents investments in debt securities issued by Community Development Financial Institutions. (c)Equity securities comprise investments in common stock and mutual funds.
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Available-for-sale securities, continuous unrealized loss position, fair value | The following table provides information about our AFS debt securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position as of June 30, 2025 and December 31, 2024: Table 4.2: AFS Debt Securities with Gross Unrealized Losses by Duration
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Available for sale securities ratio of fair value to amortized cost | The following table summarizes the gross unrealized losses for AFS debt securities by ratio of fair value to amortized cost as of June 30, 2025 and December 31, 2024: Table 4.3: AFS Gross Unrealized Losses by Ratio of Fair Value to Amortized Cost
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Contractual maturities of investment securities | Contractual maturities for AFS debt securities with stated maturities as of June 30, 2025 were as follows: Table 4.4: Contractual Maturities of AFS Debt Securities
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Customer Deposits (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Deposits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Customer deposits by component and type | As of June 30, 2025 and December 31, 2024, customer deposits were categorized as interest-bearing or non-interest-bearing as follows: Table 6.1: Interest-bearing and Non-Interest-bearing Customer Deposits
Customer deposits by deposit type as of June 30, 2025 and December 31, 2024 were as follows: Table 6.2: Customer Deposits by Type
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Time deposits by maturity | The scheduled maturities of certificates of deposit as of June 30, 2025 were as follows: Table 6.3: Scheduled Maturities of Certificates of Deposit
(a)Includes $11 million of non-U.S. direct certificates of deposit as of June 30, 2025.
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Derivatives and Hedging Activities (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of derivative instruments in statement of financial position, fair value | The following table summarizes the total fair value, excluding interest accruals, of derivative assets and liabilities as of June 30, 2025 and December 31, 2024: Table 8.1: Fair Value of Derivative Assets and Liabilities
(a)For our centrally cleared derivatives, variation margin payments are legally characterized as settlement payments as opposed to collateral. (b)Represents the amount of netting of derivative assets and derivative liabilities executed with the same counterparty under an enforceable master netting arrangement. (c)Represents the offsetting of the fair value of bilateral interest rate contracts and certain foreign exchange contracts with the right to cash collateral held from the counterparty or cash collateral posted with the counterparty.
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Effect of fair value hedges on results of operations | The following table presents the gains and losses recognized in Interest expense on the Consolidated Statements of Income associated with the fair value hedges of our fixed-rate long-term debt for the three and six months ended June 30: Table 8.2: Gains and Losses associated with Fair Value Hedges on Fixed-rate Long Term Debt
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Fair Values (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value assets and liabilities measured on recurring basis | The following table summarizes our financial assets and financial liabilities measured at fair value on a recurring basis, categorized by GAAP’s fair value hierarchy, as of June 30, 2025 and December 31, 2024: Table 9.1: Financial Assets and Financial Liabilities measured at Fair Value
(a)Refer to Note 4 for the fair values of investment securities and to Note 8 for the fair values of derivative assets and liabilities on a further disaggregated basis. (b)Level 3 fair value reflects an embedded derivative. Management reviews and applies judgment to the valuation of the embedded derivative that is performed by an independent third party using a Monte Carlo simulation that models a range of probable future stock prices based on implied volatility in a risk neutral framework. Refer to Note 8 for additional information about this embedded derivative.
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Estimated fair value of financial assets and financial liabilities | The following tables summarize the estimated fair values of our financial assets and financial liabilities that are measured at amortized cost, and not required to be carried at fair value on a recurring basis, as of June 30, 2025 and December 31, 2024. The fair values of these financial instruments are estimates based upon the market conditions and perceived risks as of June 30, 2025 and December 31, 2024, and require management’s judgment. These figures may not be indicative of future fair values, nor can the fair value of American Express be estimated by aggregating the amounts presented. Table 9.2: Fair Value of Financial Assets and Financial Liabilities measured at Amortized Cost
(a)Level 2 fair value amounts reflect time deposits and short-term investments. (b)Balances include Card Member receivables (including fair values of Card Member receivables of $4.0 billion and $3.9 billion held by a consolidated VIE as of June 30, 2025 and December 31, 2024, respectively), other receivables and other miscellaneous assets. (c)Balances include amounts held by a consolidated VIE for which the fair values of Card Member loans were $26.7 billion and $28.3 billion as of June 30, 2025 and December 31, 2024, respectively, and the fair values of Long-term debt were $16.5 billion and $14.0 billion as of June 30, 2025 and December 31, 2024, respectively. (d)Presented as a component of Customer deposits on the Consolidated Balance Sheets.
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Changes in Accumulated Other Comprehensive Income (Loss) (Tables) |
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Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of comprehensive income (loss), net of tax | Changes in each component for the three and six months ended June 30, 2025 and 2024 were as follows: Table 11.1: Changes in Accumulated Other Comprehensive Income (Loss)
(a)Refer to Note 8 for additional information on hedging activity.
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AOCI income tax effect | The following table shows the tax impact for the three and six months ended June 30 for the changes in each component of AOCI presented above: Table 11.2: Tax Impact for Changes in Accumulated Other Comprehensive Income (Loss)
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Service Fees and Other Revenue and Other Expenses (Tables) |
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Service Fees and Other Revenue and Other Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service fees and other revenue | The following is a detail of Service fees and other revenue for the three and six months ended June 30: Table 12.1: Components of Service Fees and Other Revenue
(a)Effective for the first quarter of 2025, Network partnership revenue, previously reported as Processed revenue on our Consolidated Statements of Income, is consolidated within Service fees and other revenue. Prior period amounts have been recast to conform to the current period presentation. (b)Effective for the first quarter of 2025, the revenue line previously reported as Service fees was renamed to Loyalty coalition, merchant and other service fees to better reflect its nature and components.
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Other expenses | The following is a detail of Other expenses for the three and six months ended June 30: Table 12.2: Components of Other Expense
(a) Refer to Note 1 for additional information.
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Income Taxes (Tables) |
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Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tax credit investments expenses and related income tax credits and other tax benefits | The following table presents tax credit investment expenses and associated income tax credits and other income tax benefits for the three and six months ended June 30: Table 13.1: Tax Credit Investments Expenses and Credits
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Earnings Per Common Share (EPS) (Tables) |
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Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Computation of basic and diluted EPS | The computations of basic and diluted EPS for the three and six months ended June 30 were as follows: Table 14.1: Computation of Basic and Diluted Earnings per Share
(a)Our unvested restricted stock awards, which include the right to receive non-forfeitable dividends or dividend equivalents, are considered participating securities. Calculations of EPS under the two-class method exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities. The related participating securities are similarly excluded from the denominator. (b)The dilutive effect of unexercised stock options excludes from the computation of EPS 0.2 million and 0.1 million of options for the three months ended June 30, 2025 and 2024, respectively, and 0.1 million of options for both the six months ended June 30, 2025 and 2024 because inclusion of the options would have been anti-dilutive.
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Reportable Operating Segments (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating segment information | The following tables present certain selected financial information for our reportable operating segments and Corporate & Other as of or for the three and six months ended June 30: Table 15.1: Selected Financial Information by Segment
(a)Corporate & Other includes adjustments and eliminations for intersegment activity. (b)Includes discount revenue and certain service fees and other revenue from customers. (c)Card Member rewards, business development and Card Member services expenses are generally correlated to volumes or are variable based on usage.
|
Basis of Presentation - Business Events (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jun. 01, 2025 |
Apr. 16, 2025 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
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Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Loans reclassified to held for sale | $ 1,600 | |||||
Reversal of reserve for credit losses | $ (1,405) | $ (1,268) | $ (2,555) | $ (2,537) | ||
Gain on sale of Accertify | $ 0 | 531 | $ 0 | $ 531 | ||
Accertify | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Gain on sale of Accertify | 531 | |||||
Gain on sale of Accertify, net of tax | $ 479 | |||||
CS | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Goodwill acquired during period | $ 590 |
Loans and Card Member Receivables - Summary (Details) - USD ($) $ in Millions |
Jun. 30, 2025 |
Mar. 31, 2025 |
Dec. 31, 2024 |
Jun. 30, 2024 |
Mar. 31, 2024 |
Dec. 31, 2023 |
---|---|---|---|---|---|---|
Card Member Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, gross | $ 142,275 | $ 139,674 | ||||
Financing receivable, reserves for credit losses | 5,767 | $ 5,592 | 5,679 | $ 5,321 | $ 5,271 | $ 5,118 |
Financing receivables, net | 136,508 | 133,995 | ||||
Card Member Loans | Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, gross | 109,160 | 107,646 | ||||
Card Member Loans | Small Business | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, gross | 33,072 | 31,991 | ||||
Card Member Loans | Corporate | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, gross | 43 | 37 | ||||
Other Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, gross | 10,103 | 9,232 | ||||
Financing receivable, reserves for credit losses | 272 | 244 | 194 | 140 | 136 | 126 |
Financing receivables, net | 9,831 | 9,038 | ||||
Card Member Receivables | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, gross | 59,598 | 59,411 | ||||
Financing receivable, reserves for credit losses | 193 | $ 148 | 171 | $ 171 | $ 151 | $ 174 |
Financing receivables, net | 59,405 | 59,240 | ||||
Card Member Receivables | Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, gross | 24,598 | 25,431 | ||||
Card Member Receivables | Small Business | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, gross | 18,982 | 18,619 | ||||
Card Member Receivables | Corporate | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, gross | 16,018 | 15,361 | ||||
Variable Interest Entity, Primary Beneficiary | Card Member Loans | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, gross | 26,664 | 28,278 | ||||
Variable Interest Entity, Primary Beneficiary | Card Member Loans | Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, gross | 26,700 | 28,300 | ||||
Variable Interest Entity, Primary Beneficiary | Card Member Receivables | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, gross | 3,952 | 3,927 | ||||
Variable Interest Entity, Primary Beneficiary | Card Member Receivables | Corporate | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing receivables, gross | $ 4,000 | $ 3,900 |
Loans and Card Member Receivables - Aging (Details) - USD ($) $ in Millions |
Jun. 30, 2025 |
Dec. 31, 2024 |
---|---|---|
Card Member Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Threshold period past due | 30 days | |
Financing receivables, gross | $ 142,275 | $ 139,674 |
Loans and receivables threshold period for write off | 180 days | |
Card Member Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | $ 109,160 | 107,646 |
Loans over 90 days past due and accruing interest | 425 | 435 |
Non-accruals | 423 | 464 |
Card Member Loans | Small Business | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 33,072 | 31,991 |
Loans over 90 days past due and accruing interest | 139 | 132 |
Non-accruals | 150 | 135 |
Card Member Loans | Corporate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 43 | 37 |
Loans over 90 days past due and accruing interest | 0 | 0 |
Non-accruals | $ 0 | 0 |
Card Member Receivables | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Threshold period past due | 30 days | |
Financing receivables, gross | $ 59,598 | 59,411 |
Loans and receivables threshold period for write off | 180 days | |
Card Member Receivables | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | $ 24,598 | 25,431 |
Loans over 90 days past due and accruing interest | 0 | 0 |
Non-accruals | 0 | 0 |
Card Member Receivables | Small Business | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 18,982 | 18,619 |
Loans over 90 days past due and accruing interest | 0 | 0 |
Non-accruals | 0 | 0 |
Card Member Receivables | Corporate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 16,018 | 15,361 |
Loans over 90 days past due and accruing interest | 0 | 0 |
Non-accruals | 0 | 0 |
Current | Card Member Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 107,714 | 106,155 |
Current | Card Member Loans | Small Business | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 32,563 | 31,510 |
Current | Card Member Receivables | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 24,407 | 25,255 |
Current | Card Member Receivables | Small Business | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 18,765 | 18,400 |
30 to 59 Days Past Due | Card Member Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 432 | 437 |
30 to 59 Days Past Due | Card Member Loans | Small Business | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 156 | 151 |
30 to 59 Days Past Due | Card Member Receivables | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 65 | 58 |
30 to 59 Days Past Due | Card Member Receivables | Small Business | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 72 | 77 |
60 to 89 Days Past Due | Card Member Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 326 | 329 |
60 to 89 Days Past Due | Card Member Loans | Small Business | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 114 | 107 |
60 to 89 Days Past Due | Card Member Receivables | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 41 | 39 |
60 to 89 Days Past Due | Card Member Receivables | Small Business | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 48 | 54 |
90+ Days Past Due | Card Member Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 688 | 725 |
90+ Days Past Due | Card Member Loans | Small Business | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 239 | 223 |
90+ Days Past Due | Card Member Loans | Corporate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 0 | 0 |
90+ Days Past Due | Card Member Receivables | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 85 | 79 |
90+ Days Past Due | Card Member Receivables | Small Business | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | 97 | 88 |
90+ Days Past Due | Card Member Receivables | Corporate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivables, gross | $ 65 | $ 65 |
Loans and Card Member Receivables - Aging by Origination Year (Details) - Other Loans - USD ($) $ in Millions |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2025 |
Dec. 31, 2024 |
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Threshold period past due | 30 days | |
2025/2024 | $ 3,191 | $ 4,964 |
2024/2023 | 3,339 | 1,591 |
2023/2022 | 936 | 362 |
2022/2021 | 120 | 10 |
2021/2020 | 8 | 14 |
Prior | 64 | 58 |
Revolving Loans | 2,445 | 2,233 |
Total | 10,103 | 9,232 |
2025/2024, gross write-offs | 2 | 13 |
2024/2023, gross write-offs | 36 | 59 |
2023/2022, gross write-offs | 28 | 42 |
2022/2021, gross write-offs | 9 | 6 |
2021/2020, gross write-offs | 0 | 0 |
Prior, gross write-offs | 0 | 0 |
Revolving Loans, gross write-offs | 46 | 87 |
Total gross write-offs | 121 | 207 |
Loans over 90 days past due and accruing interest | 6 | 6 |
Non-accruals | 19 | 19 |
Current | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2025/2024 | 3,189 | 4,950 |
2024/2023 | 3,321 | 1,578 |
2023/2022 | 928 | 356 |
2022/2021 | 117 | 10 |
2021/2020 | 8 | 14 |
Prior | 62 | 57 |
Revolving Loans | 2,418 | 2,209 |
Total | 10,043 | 9,174 |
30 to 59 Days Past Due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2025/2024 | 1 | 5 |
2024/2023 | 7 | 5 |
2023/2022 | 2 | 2 |
2022/2021 | 1 | 0 |
2021/2020 | 0 | 0 |
Prior | 1 | 0 |
Revolving Loans | 10 | 10 |
Total | 22 | 22 |
60 to 89 Days Past Due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2025/2024 | 1 | 5 |
2024/2023 | 6 | 4 |
2023/2022 | 3 | 2 |
2022/2021 | 1 | 0 |
2021/2020 | 0 | 0 |
Prior | 0 | 0 |
Revolving Loans | 8 | 7 |
Total | 19 | 18 |
90+ Days Past Due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
2025/2024 | 0 | 4 |
2024/2023 | 5 | 4 |
2023/2022 | 3 | 2 |
2022/2021 | 1 | 0 |
2021/2020 | 0 | 0 |
Prior | 1 | 1 |
Revolving Loans | 9 | 7 |
Total | $ 19 | $ 18 |
Loans and Card Member Receivables - Credit Quality (Details) |
6 Months Ended | |
---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
Credit Quality Indicator for Loans and Receivables | ||
90+ Days Past Billing as a % of total | 0.40% | 0.40% |
Card Member Loans | Consumer | ||
Credit Quality Indicator for Loans and Receivables | ||
30+ Days Past Due as a % of Total | 1.30% | 1.30% |
Card Member Loans | Small Business | ||
Credit Quality Indicator for Loans and Receivables | ||
30+ Days Past Due as a % of Total | 1.50% | 1.30% |
Card Member Loans | Net Write-Off Rate - Principal Only | Consumer | ||
Credit Quality Indicator for Loans and Receivables | ||
Net Write-Off Rate | 2.20% | 2.30% |
Card Member Loans | Net Write-Off Rate - Principal Only | Small Business | ||
Credit Quality Indicator for Loans and Receivables | ||
Net Write-Off Rate | 2.50% | 2.30% |
Card Member Loans | Net Write-Off Rate Principal Interest, and Fees | Consumer | ||
Credit Quality Indicator for Loans and Receivables | ||
Net Write-Off Rate | 2.70% | 2.80% |
Card Member Loans | Net Write-Off Rate Principal Interest, and Fees | Small Business | ||
Credit Quality Indicator for Loans and Receivables | ||
Net Write-Off Rate | 2.90% | 2.60% |
Card Member Receivables | Consumer | ||
Credit Quality Indicator for Loans and Receivables | ||
30+ Days Past Due as a % of Total | 0.80% | 0.80% |
Card Member Receivables | Small Business | ||
Credit Quality Indicator for Loans and Receivables | ||
30+ Days Past Due as a % of Total | 1.10% | 1.10% |
Card Member Receivables | Net Write-Off Rate - Principal Only | Consumer | ||
Credit Quality Indicator for Loans and Receivables | ||
Net Write-Off Rate | 0.90% | 1.30% |
Card Member Receivables | Net Write-Off Rate - Principal Only | Small Business | ||
Credit Quality Indicator for Loans and Receivables | ||
Net Write-Off Rate | 1.90% | 2.00% |
Card Member Receivables | Net Write-Off Rate Principal Interest, and Fees | Consumer | ||
Credit Quality Indicator for Loans and Receivables | ||
Net Write-Off Rate | 1.00% | 1.40% |
Card Member Receivables | Net Write-Off Rate Principal Interest, and Fees | Small Business | ||
Credit Quality Indicator for Loans and Receivables | ||
Net Write-Off Rate | 2.00% | 2.20% |
Card Member Receivables | Net Write-Off Rate Principal Interest, and Fees | Corporate | ||
Credit Quality Indicator for Loans and Receivables | ||
Net Write-Off Rate | 0.50% | 0.60% |
Other Loans | ||
Credit Quality Indicator for Loans and Receivables | ||
30+ Days Past Due as a % of Total | 0.60% | 0.60% |
Other Loans | Net Write-Off Rate - Principal Only | ||
Credit Quality Indicator for Loans and Receivables | ||
Net Write-Off Rate | 2.10% | 2.20% |
Other Loans | Net Write-Off Rate Principal Interest, and Fees | ||
Credit Quality Indicator for Loans and Receivables | ||
Net Write-Off Rate | 2.20% | 2.30% |
Loans and Card Member Receivables - Modifications (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
Financing Receivable, Modifications [Line Items] | ||||
Maximum payment term extension | 60 months | |||
Unused credit available | $ 38 | $ 50 | $ 38 | $ 50 |
Account Balances | 946 | 971 | 1,837 | 1,944 |
Card Member Loans | Interest Rate Reduction | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account Balances | $ 520 | $ 513 | $ 1,005 | $ 1,039 |
% of Total Class of Financing Receivables | 0.50% | 0.50% | 0.90% | 1.00% |
Weighted Average Interest Rate Reduction (% points) | 18.30% | 18.20% | 18.30% | 18.10% |
Card Member Loans | Interest Rate Reduction | Small Business | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account Balances | $ 205 | $ 185 | $ 409 | $ 370 |
% of Total Class of Financing Receivables | 0.60% | 0.60% | 1.20% | 1.20% |
Weighted Average Interest Rate Reduction (% points) | 17.70% | 17.50% | 17.70% | 17.50% |
Card Member Loans | Interest Rate Reduction | Corporate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account Balances | $ 0 | $ 0 | $ 0 | $ 0 |
% of Total Class of Financing Receivables | 0.00% | 0.00% | 0.00% | 0.00% |
Weighted Average Interest Rate Reduction (% points) | 0.00% | 0.00% | 0.00% | 0.00% |
Card Member Receivables | Term Extension | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account Balances | $ 69 | $ 92 | $ 130 | $ 184 |
% of Total Class of Financing Receivables | 0.30% | 0.40% | 0.50% | 0.80% |
Weighted Average Payment Term Extensions (# of months) | 31 months | 30 months | 31 months | 29 months |
Card Member Receivables | Term Extension | Small Business | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account Balances | $ 114 | $ 142 | $ 225 | $ 283 |
% of Total Class of Financing Receivables | 0.60% | 0.70% | 1.20% | 1.50% |
Weighted Average Payment Term Extensions (# of months) | 30 months | 29 months | 30 months | 29 months |
Card Member Receivables | Term Extension | Corporate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account Balances | $ 12 | $ 9 | $ 16 | $ 12 |
% of Total Class of Financing Receivables | 0.10% | 0.10% | 0.10% | 0.10% |
Weighted Average Payment Term Extensions (# of months) | 10 months | 9 months | 10 months | 9 months |
Other Loans | Interest Rate Reduction and Term Extension | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account Balances | $ 17 | $ 18 | $ 32 | $ 34 |
% of Total Class of Financing Receivables | 0.20% | 0.20% | 0.30% | 0.40% |
Weighted Average Interest Rate Reduction (% points) | 3.30% | 2.50% | 3.20% | 2.40% |
Weighted Average Payment Term Extensions (# of months) | 21 months | 19 months | 21 months | 19 months |
Other Loans | Term Extension | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account Balances | $ 9 | $ 12 | $ 20 | $ 22 |
% of Total Class of Financing Receivables | 0.10% | 0.10% | 0.20% | 0.30% |
Weighted Average Interest Rate Reduction (% points) | 0.00% | 0.00% | 0.00% | 0.00% |
Weighted Average Payment Term Extensions (# of months) | 17 months | 18 months | 17 months | 19 months |
Loans and Card Member Receivables - Modifications Subsequently Defaulted (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | $ 83 | $ 74 | $ 114 | $ 103 |
Interest Rate Reduction and Term Extension | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 2 | 1 | 2 | 2 |
Interest Rate Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 66 | 57 | 91 | 80 |
Term Extension | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 15 | 16 | 21 | 21 |
Card Member Loans | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 45 | 40 | 62 | 56 |
Card Member Loans | Small Business | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 21 | 17 | 29 | 24 |
Card Member Loans | Corporate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 0 | 0 | 0 | 0 |
Card Member Loans | Interest Rate Reduction and Term Extension | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 0 | 0 | 0 | 0 |
Card Member Loans | Interest Rate Reduction and Term Extension | Small Business | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 0 | 0 | 0 | 0 |
Card Member Loans | Interest Rate Reduction and Term Extension | Corporate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 0 | 0 | 0 | 0 |
Card Member Loans | Interest Rate Reduction | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 45 | 40 | 62 | 56 |
Card Member Loans | Interest Rate Reduction | Small Business | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 21 | 17 | 29 | 24 |
Card Member Loans | Interest Rate Reduction | Corporate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 0 | 0 | 0 | 0 |
Card Member Receivables | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 5 | 5 | 6 | 6 |
Card Member Receivables | Small Business | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 9 | 11 | 14 | 15 |
Card Member Receivables | Corporate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 1 | 0 | 1 | 0 |
Card Member Receivables | Interest Rate Reduction and Term Extension | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 0 | 0 | 0 | 0 |
Card Member Receivables | Interest Rate Reduction and Term Extension | Small Business | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 0 | 0 | 0 | 0 |
Card Member Receivables | Interest Rate Reduction and Term Extension | Corporate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 0 | 0 | 0 | 0 |
Card Member Receivables | Term Extension | Consumer | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 5 | 5 | 6 | 6 |
Card Member Receivables | Term Extension | Small Business | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 9 | 11 | 14 | 15 |
Card Member Receivables | Term Extension | Corporate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 1 | 0 | 1 | 0 |
Other Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 2 | 1 | 2 | 2 |
Other Loans | Interest Rate Reduction and Term Extension | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 2 | 1 | 2 | 2 |
Other Loans | Interest Rate Reduction | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | 0 | 0 | 0 | 0 |
Other Loans | Term Extension | ||||
Financing Receivable, Modifications [Line Items] | ||||
Account balance, modified and subsequent default | $ 0 | $ 0 | $ 0 | $ 0 |
Loans and Card Member Receivables - Performance (Details) - USD ($) $ in Millions |
Jun. 30, 2025 |
Jun. 30, 2024 |
---|---|---|
Current | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | $ 2,839 | $ 3,091 |
30-89 Days Past Due | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 205 | 221 |
90+ Days Past Due | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 82 | 88 |
Card Member Loans | Current | Consumer | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 1,608 | 1,725 |
Card Member Loans | Current | Small Business | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 611 | 557 |
Card Member Loans | Current | Corporate | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 0 | 0 |
Card Member Loans | 30-89 Days Past Due | Consumer | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 102 | 103 |
Card Member Loans | 30-89 Days Past Due | Small Business | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 54 | 51 |
Card Member Loans | 30-89 Days Past Due | Corporate | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 0 | 0 |
Card Member Loans | 90+ Days Past Due | Consumer | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 40 | 44 |
Card Member Loans | 90+ Days Past Due | Small Business | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 22 | 20 |
Card Member Loans | 90+ Days Past Due | Corporate | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 0 | 0 |
Card Member Receivables | Current | Consumer | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 202 | 293 |
Card Member Receivables | Current | Small Business | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 328 | 427 |
Card Member Receivables | Current | Corporate | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 12 | 9 |
Card Member Receivables | 30-89 Days Past Due | Consumer | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 11 | 17 |
Card Member Receivables | 30-89 Days Past Due | Small Business | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 30 | 42 |
Card Member Receivables | 30-89 Days Past Due | Corporate | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 3 | 3 |
Card Member Receivables | 90+ Days Past Due | Consumer | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 5 | 6 |
Card Member Receivables | 90+ Days Past Due | Small Business | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 10 | 13 |
Card Member Receivables | 90+ Days Past Due | Corporate | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 3 | 3 |
Other Loans | Current | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 78 | 80 |
Other Loans | 30-89 Days Past Due | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | 5 | 5 |
Other Loans | 90+ Days Past Due | ||
Financing Receivable, Modifications [Line Items] | ||
Account balances | $ 2 | $ 2 |
Reserves for Credit Losses (Details Textual) |
Jun. 30, 2025 |
---|---|
Financing Receivable, Past Due [Line Items] | |
CECL reasonable and supportable period | 3 years |
Pay in full loans | |
Financing Receivable, Past Due [Line Items] | |
Loans and receivables threshold period for write off | 180 days |
Revolving loans | |
Financing Receivable, Past Due [Line Items] | |
Loans and receivables threshold period for write off | 180 days |
Term loans | |
Financing Receivable, Past Due [Line Items] | |
Loans and receivables threshold period for write off | 120 days |
Reserves for Credit Losses - Key Variables (Details) |
Jun. 30, 2025 |
Dec. 31, 2024 |
---|---|---|
U.S. Unemployment Rate | Second quarter of 2025 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.04 | |
U.S. Unemployment Rate | Minimum | Second quarter of 2025 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.03 | |
U.S. Unemployment Rate | Minimum | Fourth quarter of 2025 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.04 | 0.03 |
U.S. Unemployment Rate | Minimum | Fourth quarter of 2026 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.04 | 0.03 |
U.S. Unemployment Rate | Minimum | Fourth quarter of 2027 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.04 | 0.03 |
U.S. Unemployment Rate | Maximum | Second quarter of 2025 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.07 | |
U.S. Unemployment Rate | Maximum | Fourth quarter of 2025 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.07 | 0.08 |
U.S. Unemployment Rate | Maximum | Fourth quarter of 2026 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.08 | 0.07 |
U.S. Unemployment Rate | Maximum | Fourth quarter of 2027 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.07 | 0.06 |
U.S. GDP Growth (Contraction) | Second quarter of 2025 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.004 | |
U.S. GDP Growth (Contraction) | Fourth quarter of 2026 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.02 | 0.02 |
U.S. GDP Growth (Contraction) | Fourth quarter of 2027 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.02 | |
U.S. GDP Growth (Contraction) | Minimum | Second quarter of 2025 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | (0.04) | |
U.S. GDP Growth (Contraction) | Minimum | Fourth quarter of 2025 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | (0.03) | 0.01 |
U.S. GDP Growth (Contraction) | Minimum | Fourth quarter of 2027 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.02 | |
U.S. GDP Growth (Contraction) | Maximum | Second quarter of 2025 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.04 | |
U.S. GDP Growth (Contraction) | Maximum | Fourth quarter of 2025 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.03 | 0.03 |
U.S. GDP Growth (Contraction) | Maximum | Fourth quarter of 2027 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing receivable, reserves for credit losses, measurement input | 0.04 |
Reserves for Credit Losses - Changes in Loan Reserve (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Dec. 31, 2024 |
|
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Provisions for credit losses | $ 1,405 | $ 1,268 | $ 2,555 | $ 2,537 | ||
Card Member Loans | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Beginning Balance | 5,592 | 5,271 | 5,679 | 5,118 | $ 5,118 | |
Provisions for credit losses | $ (144) | 1,094 | 970 | 1,995 | 1,984 | |
Other | 19 | (7) | 27 | (13) | ||
Ending Balance | $ 5,767 | 5,767 | 5,321 | 5,767 | 5,321 | $ 5,679 |
Card Member Loans | Principal | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Net write-offs | (771) | (753) | (1,589) | (1,458) | ||
Recoveries | 242 | 179 | 463 | 338 | ||
Card Member Loans | Interest and fees | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Net write-offs | $ (167) | $ (160) | $ (345) | $ (310) |
Reserves for Credit Losses - Changes in Receivables Reserve (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | 12 Months Ended | ||
---|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Dec. 31, 2024 |
|
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Provisions for credit losses | $ 1,405 | $ 1,268 | $ 2,555 | $ 2,537 | |
Card Member Receivables | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Beginning Balance | 148 | 151 | 171 | 174 | $ 174 |
Provisions for credit losses | 226 | 226 | 372 | 422 | |
Net write-offs | (184) | (205) | (353) | (422) | |
Other | 3 | (1) | 3 | (3) | |
Ending Balance | 193 | 171 | 193 | 171 | $ 171 |
Recoveries | $ 74 | $ 78 | $ 147 | $ 154 |
Reserves for Credit Losses - Changes in Other Loan Reserve (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | 12 Months Ended | ||
---|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Dec. 31, 2024 |
|
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Provisions for credit losses | $ 1,405 | $ 1,268 | $ 2,555 | $ 2,537 | |
Other Loans | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Beginning Balance | 244 | 136 | 194 | 126 | $ 126 |
Provisions for credit losses | 78 | 49 | 183 | 102 | |
Net write-offs | (121) | (207) | |||
Other | 1 | 0 | 1 | 0 | |
Ending Balance | 272 | 140 | 272 | 140 | $ 194 |
Other Loans | Principal | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Net write-offs | (48) | (43) | (101) | (85) | |
Recoveries | 8 | 5 | 15 | 9 | |
Other Loans | Interest and fees | |||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | |||||
Net write-offs | $ (3) | $ (2) | $ (5) | $ (3) |
Investment Securities - Summary (Details) - USD ($) $ in Millions |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2025 |
Dec. 31, 2024 |
|
Debt Securities, Available-for-Sale [Line Items] | ||
Accrued interest available-for-sale debt securities | $ 4 | $ 3 |
Debt securities | ||
Cost | 1,221 | |
Estimated Fair Value | 1,213 | 1,192 |
Equity securities | ||
Cost | 53 | 53 |
Gross Unrealized Gains | 0 | 4 |
Gross Unrealized Losses | (8) | (9) |
Estimated Fair Value | 45 | 48 |
Total Cost | 1,274 | 1,256 |
Total Gross Unrealized Gains | 1 | 5 |
Total Gross Unrealized Losses | (17) | (21) |
Total Estimated Fair Value | 1,258 | 1,240 |
State and municipal obligations | ||
Debt securities | ||
Cost | 56 | 57 |
Gross Unrealized Gains | 1 | 1 |
Gross Unrealized Losses | (8) | (9) |
Estimated Fair Value | 49 | 49 |
U.S. Government agency obligations | ||
Debt securities | ||
Cost | 4 | 4 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 4 | 4 |
U.S. Government treasury obligations | ||
Debt securities | ||
Cost | 303 | 289 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (1) | (2) |
Estimated Fair Value | 302 | 287 |
Mortgage-backed securities | ||
Debt securities | ||
Cost | 10 | 11 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | (1) |
Estimated Fair Value | 10 | 10 |
Foreign government bonds and obligations | ||
Debt securities | ||
Cost | 767 | 765 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 767 | 765 |
Other | ||
Debt securities | ||
Cost | 81 | 77 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | $ 81 | $ 77 |
Investment Securities - Gross Unrealized Losses (Details) - USD ($) $ in Millions |
Jun. 30, 2025 |
Dec. 31, 2024 |
---|---|---|
Estimated Fair Value | ||
Less than 12 months | $ 0 | $ 0 |
12 months or more | 145 | 152 |
Gross Unrealized Losses | ||
Less than 12 months | 0 | 0 |
12 months or more | (9) | (12) |
State and municipal obligations | ||
Estimated Fair Value | ||
Less than 12 months | 0 | 0 |
12 months or more | 22 | 22 |
Gross Unrealized Losses | ||
Less than 12 months | 0 | 0 |
12 months or more | (8) | (9) |
U.S. Government treasury obligations | ||
Estimated Fair Value | ||
Less than 12 months | 0 | 0 |
12 months or more | 123 | 123 |
Gross Unrealized Losses | ||
Less than 12 months | 0 | 0 |
12 months or more | (1) | (2) |
Mortgage-backed securities | ||
Estimated Fair Value | ||
Less than 12 months | 0 | 0 |
12 months or more | 0 | 7 |
Gross Unrealized Losses | ||
Less than 12 months | 0 | 0 |
12 months or more | $ 0 | $ (1) |
Investment Securities - Gross Unrealized Losses Ratio to Fair Value (Details) $ in Millions |
Jun. 30, 2025
USD ($)
security
|
Dec. 31, 2024
USD ($)
security
|
---|---|---|
Number of Securities | ||
Less than 12 months | security | 0 | 0 |
12 months or more | security | 9 | 45 |
Total | security | 9 | 45 |
Estimated Fair Value | ||
Less than 12 months | $ 0 | $ 0 |
12 months or more | 145 | 152 |
Total | 145 | 152 |
Gross Unrealized Losses | ||
Less than 12 months | 0 | 0 |
12 months or more | (9) | (12) |
Total | $ (9) | $ (12) |
90–100% | ||
Number of Securities | ||
Less than 12 months | security | 0 | 0 |
12 months or more | security | 5 | 30 |
Total | security | 5 | 30 |
Estimated Fair Value | ||
Less than 12 months | $ 0 | $ 0 |
12 months or more | 128 | 129 |
Total | 128 | 129 |
Gross Unrealized Losses | ||
Less than 12 months | 0 | 0 |
12 months or more | (2) | (3) |
Total | $ (2) | $ (3) |
Less than 90% | ||
Number of Securities | ||
Less than 12 months | security | 0 | 0 |
12 months or more | security | 4 | 15 |
Total | security | 4 | 15 |
Estimated Fair Value | ||
Less than 12 months | $ 0 | $ 0 |
12 months or more | 17 | 23 |
Total | 17 | 23 |
Gross Unrealized Losses | ||
Less than 12 months | 0 | 0 |
12 months or more | (7) | (9) |
Total | $ (7) | $ (9) |
Investment Securities - Contractual Maturities (Details) - USD ($) $ in Millions |
Jun. 30, 2025 |
Dec. 31, 2024 |
---|---|---|
Cost | ||
Due within 1 year | $ 989 | |
Due after 1 year but within 5 years | 178 | |
Due after 5 years but within 10 years | 7 | |
Due after 10 years | 47 | |
Total | 1,221 | |
Estimated Fair Value | ||
Due within 1 year | 988 | |
Due after 1 year but within 5 years | 179 | |
Due after 5 years but within 10 years | 7 | |
Due after 10 years | 39 | |
Total | $ 1,213 | $ 1,192 |
Asset Securitizations (Details) - USD ($) |
Jun. 30, 2025 |
Dec. 31, 2024 |
---|---|---|
Assets from Trusts [Line Items] | ||
Restricted cash and cash equivalents | $ 198,000,000 | $ 427,000,000 |
American Express Lending Trust | ||
Assets from Trusts [Line Items] | ||
Direct and Indirect ownership of variable interests | 13,100,000,000 | 14,600,000,000 |
Restricted cash and cash equivalents | 97,000,000 | 88,000,000 |
American Express Charge Trust | ||
Assets from Trusts [Line Items] | ||
Direct and Indirect ownership of variable interests | 1,500,000,000 | 3,900,000,000 |
Restricted cash and cash equivalents | $ 10,000,000 | $ 0 |
Customer Deposits - Categorized as Interest or Non-interest Bearing (Details) - USD ($) $ in Millions |
Jun. 30, 2025 |
Dec. 31, 2024 |
---|---|---|
U.S.: | ||
Interest-bearing | $ 148,407 | $ 138,433 |
Non-interest-bearing (includes Card Member credit balances of: 2025, $460; 2024, $513) | 525 | 566 |
Non-U.S.: | ||
Interest-bearing | 18 | 17 |
Non-interest-bearing (includes Card Member credit balances of: 2025, $433; 2024, $395) | 436 | 397 |
Total customer deposits | 149,386 | 139,413 |
Card Member Credit Balances | ||
U.S.: | ||
Non-interest-bearing (includes Card Member credit balances of: 2025, $460; 2024, $513) | 460 | 513 |
Non-U.S.: | ||
Non-interest-bearing (includes Card Member credit balances of: 2025, $433; 2024, $395) | $ 433 | $ 395 |
Customer Deposits - By Deposit Type (Details) - USD ($) $ in Millions |
Jun. 30, 2025 |
Dec. 31, 2024 |
---|---|---|
U.S. interest-bearing deposits: | ||
Savings accounts | $ 113,720 | $ 108,364 |
Checking accounts | 2,511 | 2,045 |
Certificates of deposit: | ||
Direct | 4,739 | 4,303 |
Third-party (brokered) | 12,020 | 8,109 |
Sweep accounts – Third-party (brokered) | 15,417 | 15,612 |
Total U.S. interest-bearing deposits | 148,407 | 138,433 |
Other deposits | 86 | 72 |
Total customer deposits | 149,386 | 139,413 |
Card Member Credit Balances | ||
Certificates of deposit: | ||
Card Member credit balances | $ 893 | $ 908 |
Customer Deposits - Scheduled Maturities (Details) $ in Millions |
Jun. 30, 2025
USD ($)
|
---|---|
Time Deposits By Maturity | |
2025 | $ 4,212 |
2026 | 3,682 |
2027 | 3,650 |
2028 | 2,721 |
2029 | 669 |
After 5 Years | 1,836 |
Total | 16,770 |
Non-U.S. direct certificates of deposit | $ 11 |
Customer Deposits (Details Textual) - USD ($) $ in Billions |
Jun. 30, 2025 |
Dec. 31, 2024 |
---|---|---|
Deposits [Abstract] | ||
Certificates of deposit that met or exceeded the insured limit | $ 1.5 | $ 1.4 |
Contingencies (Details Textual) |
Jun. 30, 2025
USD ($)
state
|
---|---|
Minimum | |
Loss Contingencies [Line Items] | |
Loss contingency, estimate of possible loss | $ | $ 0 |
Maximum | |
Loss Contingencies [Line Items] | |
Loss contingency, estimate of possible loss | $ | $ 210,000,000 |
Violation of Federal Antitrust Law and Consumer Laws Class Action Case | Holders of Visa and MasterCard Debit Cards | |
Loss Contingencies [Line Items] | |
Number of states with remaining claims | state | 8 |
Violation of Federal Antitrust Law and Consumer Laws Class Action Case | Holders of Visa, MasterCard and Discover Credit Cards with no Rewards or Annual Fee | |
Loss Contingencies [Line Items] | |
Number of states with remaining claims | state | 2 |
Derivatives and Hedging Activities (Details Textual) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Dec. 31, 2024 |
|
Derivatives, Fair Value [Line Items] | |||||
Margin on interest rate swaps | $ 622 | $ 622 | $ 368 | ||
Carrying values of hedged liabilities | 30,500 | 30,500 | 18,900 | ||
Cumulative amount of fair value hedging adjustment | 427 | 427 | 27 | ||
Net increase in interest expense on long term debt and other | 29 | $ 69 | 41 | $ 132 | |
Credit Valuation Adjustment | |||||
Derivatives, Fair Value [Line Items] | |||||
Derivative, amount of hedged item | 0 | 0 | 0 | ||
Fair Value Hedges | Fixed-Rate Debt Obligations | |||||
Derivatives, Fair Value [Line Items] | |||||
Derivative, amount of hedged item | 30,200 | 30,200 | 18,900 | ||
Net Investment Hedges | |||||
Derivatives, Fair Value [Line Items] | |||||
Notional amount of derivatives | 15,200 | 15,200 | 14,300 | ||
Gains (losses) on net investment hedges, net of taxes | (551) | 197 | 749 | 283 | |
Reclassifications out of AOCI | 0 | 0 | |||
Foreign Exchange Contract | Not Designated as Hedging Instrument | |||||
Derivatives, Fair Value [Line Items] | |||||
Notional amount of derivatives | 31,400 | 31,400 | 28,800 | ||
Foreign Exchange Contract | Not Designated as Hedging Instrument | Other Expense | |||||
Derivatives, Fair Value [Line Items] | |||||
Gains in changes in fair value of derivatives not designated as hedges | 4 | 27 | 19 | 43 | |
Embedded Derivative | Not Designated as Hedging Instrument | |||||
Derivatives, Fair Value [Line Items] | |||||
Notional amount of derivatives | 78 | 78 | $ 78 | ||
Embedded Derivative | Not Designated as Hedging Instrument | Noninterest Income | |||||
Derivatives, Fair Value [Line Items] | |||||
Gains (losses) on embedded derivative | $ (7) | $ 3 | $ (24) | $ (1) |
Derivatives and Hedging Activities - Derivatives Summary (Details) - USD ($) $ in Millions |
Jun. 30, 2025 |
Dec. 31, 2024 |
---|---|---|
Derivatives, Fair Value [Line Items] | ||
Derivative, gross, assets | $ 141 | $ 1,006 |
Derivatives, gross, liabilities | 1,206 | 131 |
Derivative asset and derivative liability netting, assets | (118) | (91) |
Derivative asset and derivative liability netting, liabilities | (118) | (91) |
Cash collateral netting, assets | 0 | (18) |
Cash collateral netting, liabilities | (60) | (23) |
Total derivatives assets, net | 23 | 897 |
Total derivatives liabilities, net | 1,028 | 17 |
Other Assets | Designated as Hedging Instrument | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, gross, assets | 21 | 340 |
Other Assets | Interest Rate Contract | Designated as Hedging Instrument | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, gross, assets | 0 | 0 |
Other Assets | Foreign Exchange Contract | Designated as Hedging Instrument | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, gross, assets | 21 | 340 |
Other Assets | Foreign Exchange Contract | Not Designated as Hedging Instrument | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, gross, assets | 120 | 666 |
Other Liabilities | Designated as Hedging Instrument | ||
Derivatives, Fair Value [Line Items] | ||
Derivatives, gross, liabilities | 731 | 41 |
Other Liabilities | Interest Rate Contract | Designated as Hedging Instrument | ||
Derivatives, Fair Value [Line Items] | ||
Derivatives, gross, liabilities | 13 | 23 |
Other Liabilities | Foreign Exchange Contract | Designated as Hedging Instrument | ||
Derivatives, Fair Value [Line Items] | ||
Derivatives, gross, liabilities | 718 | 18 |
Other Liabilities | Foreign Exchange Contract | Not Designated as Hedging Instrument | ||
Derivatives, Fair Value [Line Items] | ||
Derivatives, gross, liabilities | $ 475 | $ 90 |
Derivatives and Hedging Activities - Gains and Losses (Details) - Interest Rate Contract - Fair Value Hedges - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Fixed-rate long-term debt | $ (137) | $ (60) | $ (400) | $ 73 |
Derivatives designated as hedging instruments | 137 | 60 | 400 | (74) |
Total | $ 0 | $ 0 | $ 0 | $ (1) |
Fair Values - Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions |
Jun. 30, 2025 |
Dec. 31, 2024 |
---|---|---|
Investment securities: | ||
Equity securities | $ 45 | $ 48 |
Debt securities | 1,213 | 1,192 |
Derivative, gross, assets | 141 | 1,006 |
Total Assets | 1,399 | 2,246 |
Liabilities | ||
Derivatives, gross, liabilities | 1,206 | 131 |
Total Liabilities | 1,206 | 131 |
Level 1 | ||
Investment securities: | ||
Equity securities | 45 | 48 |
Debt securities | 0 | 0 |
Derivative, gross, assets | 0 | 0 |
Total Assets | 45 | 48 |
Liabilities | ||
Derivatives, gross, liabilities | 0 | 0 |
Total Liabilities | 0 | 0 |
Level 2 | ||
Investment securities: | ||
Equity securities | 0 | 0 |
Debt securities | 1,132 | 1,115 |
Derivative, gross, assets | 134 | 975 |
Total Assets | 1,266 | 2,090 |
Liabilities | ||
Derivatives, gross, liabilities | 1,206 | 131 |
Total Liabilities | 1,206 | 131 |
Level 3 | ||
Investment securities: | ||
Equity securities | 0 | 0 |
Debt securities | 81 | 77 |
Derivative, gross, assets | 7 | 31 |
Total Assets | 88 | 108 |
Liabilities | ||
Derivatives, gross, liabilities | 0 | 0 |
Total Liabilities | $ 0 | $ 0 |
Fair Values - Not Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions |
Jun. 30, 2025 |
Dec. 31, 2024 |
---|---|---|
Card Member Receivables | ||
Fair Values (Textuals) | ||
Financing receivables, gross | $ 59,598 | $ 59,411 |
Card Member Loans | ||
Fair Values (Textuals) | ||
Financing receivables, gross | 142,275 | 139,674 |
Variable Interest Entity, Primary Beneficiary | Card Member Receivables | ||
Fair Values (Textuals) | ||
Financing receivables, gross | 3,952 | 3,927 |
Variable Interest Entity, Primary Beneficiary | Card Member Loans | ||
Fair Values (Textuals) | ||
Financing receivables, gross | 26,664 | 28,278 |
Carrying Value | ||
Financial assets for which carrying values equal or approximate fair value | ||
Cash and cash equivalents | 58,000 | 41,000 |
Other financial assets | 63,000 | 63,000 |
Financial assets carried at other than fair value | ||
Card Member and Other loans, less reserves | 146,000 | 143,000 |
Card Member loans HFS | 2,000 | 1,000 |
Financial Liabilities: | ||
Financial liabilities for which carrying values equal or approximate fair value | 162,000 | 155,000 |
Financial liabilities carried at other than fair value | ||
Long-term debt | 58,000 | 50,000 |
Fair Values (Textuals) | ||
Long-term debt | 58,000 | 50,000 |
Carrying Value | Certificates of Deposit | ||
Financial liabilities carried at other than fair value | ||
Financial liabilities | 17,000 | 12,000 |
Corresponding Fair Value Amount | ||
Financial assets for which carrying values equal or approximate fair value | ||
Cash and cash equivalents | 58,000 | 41,000 |
Other financial assets | 63,000 | 63,000 |
Financial Liabilities: | ||
Financial liabilities for which carrying values equal or approximate fair value | 162,000 | 155,000 |
Corresponding Fair Value Amount | Variable Interest Entity, Primary Beneficiary | Card Member Receivables | ||
Fair Values (Textuals) | ||
Financing receivables, gross | 4,000 | 3,900 |
Corresponding Fair Value Amount | Level 1 | ||
Financial assets for which carrying values equal or approximate fair value | ||
Cash and cash equivalents | 57,000 | 39,000 |
Other financial assets | 0 | 0 |
Financial Liabilities: | ||
Financial liabilities for which carrying values equal or approximate fair value | 0 | 0 |
Corresponding Fair Value Amount | Level 2 | ||
Financial assets for which carrying values equal or approximate fair value | ||
Cash and cash equivalents | 1,000 | 2,000 |
Other financial assets | 63,000 | 63,000 |
Financial Liabilities: | ||
Financial liabilities for which carrying values equal or approximate fair value | 162,000 | 155,000 |
Corresponding Fair Value Amount | Level 3 | ||
Financial assets for which carrying values equal or approximate fair value | ||
Cash and cash equivalents | 0 | 0 |
Other financial assets | 0 | 0 |
Financial Liabilities: | ||
Financial liabilities for which carrying values equal or approximate fair value | 0 | 0 |
Portion at Other than Fair Value Measurement | ||
Financial assets carried at other than fair value | ||
Card Member and Other loans, less reserves | 152,000 | 149,000 |
Card Member loans HFS | 2,000 | 1,000 |
Financial liabilities carried at other than fair value | ||
Long-term debt | 59,000 | 50,000 |
Fair Values (Textuals) | ||
Long-term debt | 59,000 | 50,000 |
Portion at Other than Fair Value Measurement | Variable Interest Entity, Primary Beneficiary | ||
Financial liabilities carried at other than fair value | ||
Long-term debt | 16,500 | 14,000 |
Fair Values (Textuals) | ||
Long-term debt | 16,500 | 14,000 |
Portion at Other than Fair Value Measurement | Variable Interest Entity, Primary Beneficiary | Card Member Loans | ||
Fair Values (Textuals) | ||
Financing receivables, gross | 26,700 | 28,300 |
Portion at Other than Fair Value Measurement | Certificates of Deposit | ||
Financial liabilities carried at other than fair value | ||
Financial liabilities | 17,000 | 12,000 |
Portion at Other than Fair Value Measurement | Level 1 | ||
Financial assets carried at other than fair value | ||
Card Member and Other loans, less reserves | 0 | 0 |
Card Member loans HFS | 0 | 0 |
Financial liabilities carried at other than fair value | ||
Long-term debt | 0 | 0 |
Fair Values (Textuals) | ||
Long-term debt | 0 | 0 |
Portion at Other than Fair Value Measurement | Level 1 | Certificates of Deposit | ||
Financial liabilities carried at other than fair value | ||
Financial liabilities | 0 | 0 |
Portion at Other than Fair Value Measurement | Level 2 | ||
Financial assets carried at other than fair value | ||
Card Member and Other loans, less reserves | 0 | 0 |
Card Member loans HFS | 0 | 0 |
Financial liabilities carried at other than fair value | ||
Long-term debt | 59,000 | 50,000 |
Fair Values (Textuals) | ||
Long-term debt | 59,000 | 50,000 |
Portion at Other than Fair Value Measurement | Level 2 | Certificates of Deposit | ||
Financial liabilities carried at other than fair value | ||
Financial liabilities | 17,000 | 12,000 |
Portion at Other than Fair Value Measurement | Level 3 | ||
Financial assets carried at other than fair value | ||
Card Member and Other loans, less reserves | 152,000 | 149,000 |
Card Member loans HFS | 2,000 | 1,000 |
Financial liabilities carried at other than fair value | ||
Long-term debt | 0 | 0 |
Fair Values (Textuals) | ||
Long-term debt | 0 | 0 |
Portion at Other than Fair Value Measurement | Level 3 | Certificates of Deposit | ||
Financial liabilities carried at other than fair value | ||
Financial liabilities | $ 0 | $ 0 |
Fair Values (Details Textual) - Fair Value, Nonrecurring - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Dec. 31, 2024 |
|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Carrying value of equity securities without readily determinable fair values | $ 1,000 | $ 1,000 | $ 900 | ||
Net upward adjustments of equity securities without readily determinable fair values | 91 | $ 67 | 91 | $ 67 | |
Net downward adjustments of equity securities without readily determinable fair values | 0 | $ 11 | 38 | $ 11 | |
Cumulative net unrealized gains for equity investments without readily determinable fair values | 1,200 | 1,200 | |||
Cumulative net unrealized losses for equity investments without readily determinable fair values | 500 | 500 | |||
Level 3 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Carrying value of equity securities without readily determinable fair values | $ 400 | $ 400 | $ 1 |
Guarantees (Details) - USD ($) $ in Millions |
Jun. 30, 2025 |
Dec. 31, 2024 |
---|---|---|
Guarantees [Abstract] | ||
Maximum potential amount of undiscounted future payments | $ 1,000 | $ 1,000 |
Amount of related liability | $ 11 | $ 10 |
Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning Balance | $ 31,202 | $ 28,764 | $ 30,264 | $ 28,057 |
Net Change | 118 | (45) | 147 | (128) |
Ending Balance | 32,311 | 29,540 | 32,311 | 29,540 |
Tax impact for the changes in each component of accumulated other comprehensive (loss) income | ||||
Tax expense (benefit) | (143) | 8 | (204) | 60 |
Accumulated Other Comprehensive Income (Loss) | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning Balance | (3,366) | (3,155) | (3,395) | (3,072) |
Net Change | 118 | (45) | 147 | (128) |
Ending Balance | (3,248) | (3,200) | (3,248) | (3,200) |
Net Unrealized Gains (Losses) on Debt Securities | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning Balance | (6) | (13) | (9) | (14) |
Net Change | 0 | 3 | 3 | 4 |
Ending Balance | (6) | (10) | (6) | (10) |
Tax impact for the changes in each component of accumulated other comprehensive (loss) income | ||||
Tax expense (benefit) | 0 | 1 | 0 | 2 |
Foreign Currency Translation Adjustment Gains (Losses), net of hedges | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning Balance | (2,907) | (2,658) | (2,924) | (2,571) |
Net Change | 115 | (49) | 132 | (136) |
Ending Balance | (2,792) | (2,707) | (2,792) | (2,707) |
Tax impact for the changes in each component of accumulated other comprehensive (loss) income | ||||
Tax expense (benefit) | (137) | 7 | (197) | 56 |
Net Unrealized Pension and Other Postretirement Benefit Gains (Losses) | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning Balance | (453) | (484) | (462) | (487) |
Net Change | 3 | 1 | 12 | 4 |
Ending Balance | (450) | (483) | (450) | (483) |
Tax impact for the changes in each component of accumulated other comprehensive (loss) income | ||||
Tax expense (benefit) | $ (6) | $ 0 | $ (7) | $ 2 |
Changes in Accumulated Other Comprehensive Income (Loss) (Details Textual) - USD ($) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||
Reclassifications out of AOCI | $ 0 | $ 0 | $ 0 | $ 0 |
Service Fees and Other Revenue and Other Expenses - Service Fees and Other Revenue (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
Non Interest Income [Line Items] | ||||
Total Service fees and other revenue | $ 13,669 | $ 12,603 | $ 26,467 | $ 24,635 |
Service fees and other revenue | ||||
Non Interest Income [Line Items] | ||||
Network partnership revenue | 438 | 408 | 846 | 794 |
Loyalty coalition, merchant and other service fees | 407 | 385 | 843 | 827 |
Foreign currency-related revenue | 435 | 381 | 817 | 739 |
Delinquency fees | 238 | 235 | 475 | 469 |
Travel commissions and fees | 148 | 157 | 284 | 324 |
Other fees and revenues | 162 | 122 | 285 | 213 |
Total Service fees and other revenue | $ 1,828 | $ 1,688 | $ 3,550 | $ 3,366 |
Service Fees and Other Revenue and Other Expenses - Other Expenses (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
Service Fees and Other Revenue and Other Expenses [Abstract] | ||||
Data processing and equipment | $ 720 | $ 701 | $ 1,425 | $ 1,358 |
Professional services | 591 | 542 | 1,132 | 997 |
Gain on sale of Accertify | 0 | (531) | 0 | (531) |
Other | 375 | 326 | 775 | 690 |
Total Other expenses | $ 1,686 | $ 1,038 | $ 3,332 | $ 2,514 |
Income Taxes (Details Textual) - USD ($) $ in Millions |
1 Months Ended | 3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|---|
Dec. 31, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
Income Tax Contingency [Line Items] | |||||
Effective tax rates | 18.70% | 20.40% | 20.50% | 21.40% | |
Unrecognized tax benefits change as a result of potential resolutions of prior years' tax | $ 126 | $ 126 | |||
Unrecognized tax benefits that, if recognized, could impact effective tax rate | 99 | 99 | |||
Tax credit investments | $ 1,697 | $ 1,577 | $ 1,697 | $ 1,577 | |
Internal Revenue Service (IRS) | |||||
Income Tax Contingency [Line Items] | |||||
Additional estimated federal income tax payment | $ 185 | ||||
Internal Revenue Service (IRS) | Penalties | |||||
Income Tax Contingency [Line Items] | |||||
Additional estimated federal income tax payment | $ 50 |
Income Taxes - Tax Credit Investments Expenses and Related Income Tax Credits and Other Tax Benefits (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
Income Tax Disclosure [Abstract] | ||||
Proportional amortization recognized in tax provision | $ 58 | $ 48 | $ 115 | $ 95 |
Income tax credits and Other income tax benefits recognized in tax provision | $ 73 | $ 56 | $ 139 | $ 113 |
Earnings Per Common Share (EPS) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|||||||||
Basic and diluted: | ||||||||||||
Net income | $ 2,885 | $ 3,015 | $ 5,469 | $ 5,452 | ||||||||
Preferred dividends | (15) | (15) | (29) | (29) | ||||||||
Net income available to common shareholders | 2,870 | 3,000 | 5,440 | 5,423 | ||||||||
Earnings allocated to participating share awards | (18) | (23) | (36) | (41) | ||||||||
Net income attributable to common shareholders | $ 2,852 | $ 2,977 | $ 5,404 | $ 5,382 | ||||||||
Denominator: | ||||||||||||
Basic: Weighted-average common stock (in shares) | 698.0 | 716.0 | 700.0 | 718.0 | ||||||||
Add: Weighted-average stock options (in shares) | 1.0 | 1.0 | 1.0 | 1.0 | ||||||||
Diluted (in shares) | 699.0 | 717.0 | 701.0 | 719.0 | ||||||||
Basic EPS (in dollars per share) | $ 4.08 | [1] | $ 4.16 | [1] | $ 7.73 | [2] | $ 7.49 | [2] | ||||
Diluted EPS (in dollars per share) | $ 4.08 | [1] | $ 4.15 | [1] | $ 7.71 | [2] | $ 7.48 | [2] | ||||
Stock Option | ||||||||||||
Denominator: | ||||||||||||
The dilutive effect of securities excluded from the calculation of earnings per share (in shares) | 0.2 | 0.1 | 0.1 | 0.1 | ||||||||
|
Reportable Operating Segments (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Dec. 31, 2024 |
|
Segment Reporting Information [Line Items] | |||||
Total non-interest revenues | $ 13,669 | $ 12,603 | $ 26,467 | $ 24,635 | |
Revenue from contracts with customers | 10,321 | 9,818 | 19,947 | 19,157 | |
Interest income | 6,264 | 5,794 | 12,399 | 11,569 | |
Interest expense | 2,077 | 2,064 | 4,043 | 4,070 | |
Net interest income | 4,187 | 3,730 | 8,356 | 7,499 | |
Total revenues net of interest expense | 17,856 | 16,333 | 34,823 | 32,134 | |
Provisions for credit losses | 1,405 | 1,268 | 2,555 | 2,537 | |
Total revenues net of interest expense after provisions for credit losses | 16,451 | 15,065 | 32,268 | 29,597 | |
Card Member rewards, business development and Card Member services | 7,508 | 6,808 | 14,743 | 13,145 | |
Marketing | 1,555 | 1,480 | 3,041 | 2,956 | |
Salaries and employee benefits and other operating expenses | 3,838 | 2,987 | 7,604 | 6,561 | |
Total expenses | 12,901 | 11,275 | 25,388 | 22,662 | |
Pretax income | 3,550 | 3,790 | 6,880 | 6,935 | |
Total assets | 295,556 | 272,219 | 295,556 | 272,219 | $ 271,461 |
Corporate and Other | |||||
Segment Reporting Information [Line Items] | |||||
Total non-interest revenues | 2 | 9 | (14) | (11) | |
Revenue from contracts with customers | (7) | 14 | (16) | 4 | |
Interest income | 599 | 679 | 1,161 | 1,368 | |
Interest expense | 675 | 736 | 1,289 | 1,471 | |
Net interest income | (76) | (57) | (128) | (103) | |
Total revenues net of interest expense | (74) | (48) | (142) | (114) | |
Provisions for credit losses | 1 | 1 | 1 | 0 | |
Total revenues net of interest expense after provisions for credit losses | (75) | (49) | (143) | (114) | |
Card Member rewards, business development and Card Member services | 11 | 8 | 23 | 14 | |
Marketing | 6 | 5 | 14 | 11 | |
Salaries and employee benefits and other operating expenses | 458 | 440 | 979 | 978 | |
Total expenses | 475 | 453 | 1,016 | 1,003 | |
Pretax income | (550) | (502) | (1,159) | (1,117) | |
Total assets | 54,704 | 38,574 | 54,704 | 38,574 | |
USCS | Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Total non-interest revenues | 5,540 | 5,029 | 10,783 | 9,795 | |
Revenue from contracts with customers | 3,903 | 3,696 | 7,537 | 7,165 | |
Interest income | 3,795 | 3,474 | 7,558 | 6,955 | |
Interest expense | 782 | 771 | 1,539 | 1,519 | |
Net interest income | 3,013 | 2,703 | 6,019 | 5,436 | |
Total revenues net of interest expense | 8,553 | 7,732 | 16,802 | 15,231 | |
Provisions for credit losses | 829 | 706 | 1,460 | 1,433 | |
Total revenues net of interest expense after provisions for credit losses | 7,724 | 7,026 | 15,342 | 13,798 | |
Card Member rewards, business development and Card Member services | 3,967 | 3,587 | 7,849 | 6,943 | |
Marketing | 800 | 764 | 1,565 | 1,483 | |
Salaries and employee benefits and other operating expenses | 1,281 | 1,115 | 2,520 | 2,199 | |
Total expenses | 6,048 | 5,466 | 11,934 | 10,625 | |
Pretax income | 1,676 | 1,560 | 3,408 | 3,173 | |
Total assets | 113,876 | 108,224 | 113,876 | 108,224 | |
CS | Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Total non-interest revenues | 3,422 | 3,333 | 6,687 | 6,527 | |
Revenue from contracts with customers | 2,975 | 2,922 | 5,803 | 5,717 | |
Interest income | 1,240 | 1,051 | 2,442 | 2,056 | |
Interest expense | 450 | 430 | 882 | 844 | |
Net interest income | 790 | 621 | 1,560 | 1,212 | |
Total revenues net of interest expense | 4,212 | 3,954 | 8,247 | 7,739 | |
Provisions for credit losses | 360 | 349 | 689 | 704 | |
Total revenues net of interest expense after provisions for credit losses | 3,852 | 3,605 | 7,558 | 7,035 | |
Card Member rewards, business development and Card Member services | 1,790 | 1,633 | 3,536 | 3,126 | |
Marketing | 331 | 325 | 668 | 651 | |
Salaries and employee benefits and other operating expenses | 826 | 742 | 1,613 | 1,475 | |
Total expenses | 2,947 | 2,700 | 5,817 | 5,252 | |
Pretax income | 905 | 905 | 1,741 | 1,783 | |
Total assets | 62,152 | 58,993 | 62,152 | 58,993 | |
ICS | Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Total non-interest revenues | 2,947 | 2,548 | 5,593 | 4,985 | |
Revenue from contracts with customers | 1,876 | 1,669 | 3,564 | 3,259 | |
Interest income | 620 | 577 | 1,216 | 1,160 | |
Interest expense | 335 | 303 | 641 | 610 | |
Net interest income | 285 | 274 | 575 | 550 | |
Total revenues net of interest expense | 3,232 | 2,822 | 6,168 | 5,535 | |
Provisions for credit losses | 210 | 192 | 402 | 374 | |
Total revenues net of interest expense after provisions for credit losses | 3,022 | 2,630 | 5,766 | 5,161 | |
Card Member rewards, business development and Card Member services | 1,452 | 1,302 | 2,764 | 2,505 | |
Marketing | 322 | 290 | 622 | 642 | |
Salaries and employee benefits and other operating expenses | 783 | 748 | 1,534 | 1,472 | |
Total expenses | 2,557 | 2,340 | 4,920 | 4,619 | |
Pretax income | 465 | 290 | 846 | 542 | |
Total assets | 46,500 | 41,982 | 46,500 | 41,982 | |
GMNS | Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Total non-interest revenues | 1,758 | 1,684 | 3,418 | 3,339 | |
Revenue from contracts with customers | 1,574 | 1,517 | 3,059 | 3,012 | |
Interest income | 10 | 13 | 22 | 30 | |
Interest expense | (165) | (176) | (308) | (374) | |
Net interest income | 175 | 189 | 330 | 404 | |
Total revenues net of interest expense | 1,933 | 1,873 | 3,748 | 3,743 | |
Provisions for credit losses | 5 | 20 | 3 | 26 | |
Total revenues net of interest expense after provisions for credit losses | 1,928 | 1,853 | 3,745 | 3,717 | |
Card Member rewards, business development and Card Member services | 288 | 278 | 571 | 557 | |
Marketing | 96 | 96 | 172 | 169 | |
Salaries and employee benefits and other operating expenses | 490 | (58) | 958 | 437 | |
Total expenses | 874 | 316 | 1,701 | 1,163 | |
Pretax income | 1,054 | 1,537 | 2,044 | 2,554 | |
Total assets | $ 18,324 | $ 24,446 | $ 18,324 | $ 24,446 |
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