| (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 19, 2023 | ||||||||||
| Common Shares (par value $0.20 per share) | Shares | ||||||||||
| Page No. | |||||||||||||||||
As of or for the Three Months Ended June 30, | Change 2023 vs. 2022 | As of or for the Six Months Ended June 30, | Change 2023 vs. 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
| (Millions, except percentages, per share amounts and where indicated) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||||
| Selected Income Statement Data | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total revenues net of interest expense | $ | 15,054 | $ | 13,395 | $ | 1,659 | 12 | % | $ | 29,335 | $ | 25,130 | $ | 4,205 | 17 | % | ||||||||||||||||||||||||||||||||||
| Provisions for credit losses | 1,198 | 410 | 788 | # | 2,253 | 377 | 1,876 | # | ||||||||||||||||||||||||||||||||||||||||||
| Total expenses | 11,122 | 10,442 | 680 | 7 | 22,181 | 19,498 | 2,683 | 14 | ||||||||||||||||||||||||||||||||||||||||||
| Pretax income | 2,734 | 2,543 | 191 | 8 | 4,901 | 5,255 | (354) | (7) | ||||||||||||||||||||||||||||||||||||||||||
| Income tax provision | 560 | 579 | (19) | (3) | 911 | 1,192 | (281) | (24) | ||||||||||||||||||||||||||||||||||||||||||
| Net income | 2,174 | 1,964 | 210 | 11 | 3,990 | 4,063 | (73) | (2) | ||||||||||||||||||||||||||||||||||||||||||
Earnings per common share — diluted (a) | $ | 2.89 | $ | 2.57 | $ | 0.32 | 12 | % | $ | 5.29 | $ | 5.30 | $ | (0.01) | — | % | ||||||||||||||||||||||||||||||||||
Common Share Statistics (b) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash dividends declared per common share | $ | 0.60 | $ | 0.52 | $ | 0.08 | 15 | % | $ | 1.20 | $ | 1.04 | $ | 0.16 | 15 | % | ||||||||||||||||||||||||||||||||||
| Average common shares outstanding: | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Basic | 740 | 752 | (12) | (2) | % | 741 | 755 | (14) | (2) | % | ||||||||||||||||||||||||||||||||||||||||
| Diluted | 741 | 753 | (12) | (2) | % | 742 | 756 | (14) | (2) | % | ||||||||||||||||||||||||||||||||||||||||
| Selected Metrics and Ratios | ||||||||||||||||||||||||||||||||||||||||||||||||||
Network volumes (Billions) | $ | 426.6 | $ | 394.8 | $ | 32 | 8 | % | $ | 825.5 | $ | 745.1 | $ | 80 | 11 | % | ||||||||||||||||||||||||||||||||||
Return on average equity (c) | 33.0 | % | 34.4 | % | 30.9 | % | 36.0 | % | ||||||||||||||||||||||||||||||||||||||||||
| Net interest income divided by average Card Member loans | 11.1 | % | 10.2 | % | 11.1 | % | 10.2 | % | ||||||||||||||||||||||||||||||||||||||||||
Net interest yield on average Card Member loans (d) | 11.2 | % | 10.4 | % | 11.2 | % | 10.5 | % | ||||||||||||||||||||||||||||||||||||||||||
| Effective tax rate | 20.5 | % | 22.8 | % | 18.6 | % | 22.7 | % | ||||||||||||||||||||||||||||||||||||||||||
| Common Equity Tier 1 | 10.6 | % | 10.3 | % | 10.6 | % | 10.3 | % | ||||||||||||||||||||||||||||||||||||||||||
| Selected Balance Sheet Data | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | $ | 42,958 | $ | 26,277 | $ | 16,681 | 63 | % | $ | 42,958 | $ | 26,277 | $ | 16,681 | 63 | % | ||||||||||||||||||||||||||||||||||
| Card Member receivables | 58,221 | 56,019 | 2,202 | 4 | 58,221 | 56,019 | 2,202 | 4 | ||||||||||||||||||||||||||||||||||||||||||
| Card Member loans | 114,602 | 95,437 | 19,165 | 20 | 114,602 | 95,437 | 19,165 | 20 | ||||||||||||||||||||||||||||||||||||||||||
| Customer deposits | 122,756 | 96,411 | 26,345 | 27 | 122,756 | 96,411 | 26,345 | 27 | ||||||||||||||||||||||||||||||||||||||||||
| Long-term debt | $ | 46,725 | $ | 40,495 | $ | 6,230 | 15 | % | $ | 46,725 | $ | 40,495 | $ | 6,230 | 15 | % | ||||||||||||||||||||||||||||||||||
# Denotes a variance of 100 percent or more | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Change 2023 vs. 2022 | Six Months Ended June 30, | Change 2023 vs. 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
| (Millions, except percentages) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||||
| Discount revenue | $ | 8,481 | $ | 7,873 | $ | 608 | 8 | % | $ | 16,428 | $ | 14,708 | $ | 1,720 | 12 | % | ||||||||||||||||||||||||||||||||||
Net card fees | 1,789 | 1,481 | 308 | 21 | 3,502 | 2,904 | 598 | 21 | ||||||||||||||||||||||||||||||||||||||||||
| Service fees and other revenue | 1,232 | 1,265 | (33) | (3) | 2,450 | 2,171 | 279 | 13 | ||||||||||||||||||||||||||||||||||||||||||
| Processed revenue | 447 | 416 | 31 | 7 | 867 | 788 | 79 | 10 | ||||||||||||||||||||||||||||||||||||||||||
| Total non-interest revenues | 11,949 | 11,035 | 914 | 8 | 23,247 | 20,571 | 2,676 | 13 | ||||||||||||||||||||||||||||||||||||||||||
| Total interest income | 4,775 | 2,799 | 1,976 | 71 | 9,191 | 5,319 | 3,872 | 73 | ||||||||||||||||||||||||||||||||||||||||||
| Total interest expense | 1,670 | 439 | 1,231 | # | 3,103 | 760 | 2,343 | # | ||||||||||||||||||||||||||||||||||||||||||
| Net interest income | 3,105 | 2,360 | 745 | 32 | 6,088 | 4,559 | 1,529 | 34 | ||||||||||||||||||||||||||||||||||||||||||
| Total revenues net of interest expense | $ | 15,054 | $ | 13,395 | $ | 1,659 | 12 | % | $ | 29,335 | $ | 25,130 | $ | 4,205 | 17 | % | ||||||||||||||||||||||||||||||||||
| # Denotes a variance of 100 percent or more | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Change 2023 vs. 2022 | Six Months Ended June 30, | Change 2023 vs. 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
| (Millions, except percentages) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||||
| Card Member loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net write-offs | $ | 597 | $ | 247 | $ | 350 | # % | $ | 1,083 | $ | 462 | $ | 621 | # % | ||||||||||||||||||||||||||||||||||||
Reserve build (release) (a) | 326 | 25 | 301 | # | 626 | (301) | 927 | # | ||||||||||||||||||||||||||||||||||||||||||
Total | 923 | 272 | 651 | # | 1,709 | 161 | 1,548 | # | ||||||||||||||||||||||||||||||||||||||||||
| Card Member receivables | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net write-offs | 243 | 95 | 148 | # | 473 | 162 | 311 | # | ||||||||||||||||||||||||||||||||||||||||||
Reserve (release) build (a) | (13) | 43 | (56) | # | (21) | 56 | (77) | # | ||||||||||||||||||||||||||||||||||||||||||
Total | 230 | 138 | 92 | 67 | 452 | 218 | 234 | # | ||||||||||||||||||||||||||||||||||||||||||
| Other | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net write-offs - Other loans (b) | 28 | 4 | 24 | # | 44 | 6 | 38 | # | ||||||||||||||||||||||||||||||||||||||||||
Net write-offs - Other receivables (c) | 3 | 6 | (3) | (50) | 6 | 9 | (3) | (33) | ||||||||||||||||||||||||||||||||||||||||||
Reserve build (release) - Other loans (a)(b) | 15 | (10) | 25 | # | 39 | (14) | 53 | # | ||||||||||||||||||||||||||||||||||||||||||
Reserve build (release) - Other receivables (a)(c) | (1) | — | (1) | — | 3 | (3) | 6 | # | ||||||||||||||||||||||||||||||||||||||||||
Total | 45 | — | 45 | — | 92 | (2) | 94 | # | ||||||||||||||||||||||||||||||||||||||||||
| Total provisions for credit losses | $ | 1,198 | $ | 410 | $ | 788 | # % | $ | 2,253 | $ | 377 | $ | 1,876 | # % | ||||||||||||||||||||||||||||||||||||
| # Denotes a variance of 100 percent or more | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Change 2023 vs. 2022 | Six Months Ended June 30, | Change 2023 vs. 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
| (Millions, except percentages) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||||
| Card Member rewards | $ | 3,956 | $ | 3,591 | $ | 365 | 10 | % | $ | 7,722 | $ | 6,702 | $ | 1,020 | 15 | % | ||||||||||||||||||||||||||||||||||
| Business development | 1,388 | 1,404 | (16) | (1) | 2,781 | 2,447 | 334 | 14 | ||||||||||||||||||||||||||||||||||||||||||
| Card Member services | 949 | 678 | 271 | 40 | 1,932 | 1,304 | 628 | 48 | ||||||||||||||||||||||||||||||||||||||||||
| Marketing | 1,408 | 1,502 | (94) | (6) | 2,749 | 2,726 | 23 | 1 | ||||||||||||||||||||||||||||||||||||||||||
| Salaries and employee benefits | 1,875 | 1,816 | 59 | 3 | 3,889 | 3,470 | 419 | 12 | ||||||||||||||||||||||||||||||||||||||||||
| Other, net | 1,546 | 1,451 | 95 | 7 | 3,108 | 2,849 | 259 | 9 | ||||||||||||||||||||||||||||||||||||||||||
| Total expenses | $ | 11,122 | $ | 10,442 | $ | 680 | 7 | % | $ | 22,181 | $ | 19,498 | $ | 2,683 | 14 | % | ||||||||||||||||||||||||||||||||||
As of or for the Three Months Ended June 30, | Change 2023 vs. 2022 | As of or for the Six Months Ended June 30, | Change 2023 vs. 2022 | |||||||||||||||||||||||||||||||||||
| 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||
Network volumes (billions) | $ | 426.6 | $ | 394.8 | 8 | % | $ | 825.5 | $ | 745.1 | 11 | % | ||||||||||||||||||||||||||
| Billed business | $ | 368.1 | $ | 340.9 | 8 | $ | 713.6 | $ | 641.9 | 11 | ||||||||||||||||||||||||||||
| Processed volumes | $ | 58.5 | $ | 53.9 | 9 | $ | 111.9 | $ | 103.2 | 8 | ||||||||||||||||||||||||||||
Cards-in-force (millions) | 137.9 | 127.5 | 8 | 137.9 | 127.5 | 8 | ||||||||||||||||||||||||||||||||
| Proprietary cards-in-force | 79.3 | 74.2 | 7 | 79.3 | 74.2 | 7 | ||||||||||||||||||||||||||||||||
Basic cards-in-force (millions) | 116.0 | 106.1 | 9 | 116.0 | 106.1 | 9 | ||||||||||||||||||||||||||||||||
| Proprietary basic cards-in-force | 61.0 | 56.9 | 7 | 61.0 | 56.9 | 7 | ||||||||||||||||||||||||||||||||
Average proprietary basic Card Member spending (dollars) | $ | 6,075 | $ | 6,052 | — | $ | 11,869 | $ | 11,512 | 3 | ||||||||||||||||||||||||||||
Average fee per card (dollars)(a) | $ | 91 | $ | 81 | 12 | % | $ | 90 | $ | 80 | 13 | % | ||||||||||||||||||||||||||
| Discount revenue as a % of Billed business | 2.30% | 2.31% | 2.30% | 2.29% | ||||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2023 | Six Months Ended June 30, 2023 | |||||||||||||||||||||||||
| 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 | 8 | % | 9 | % | 11 | % | 12 | % | ||||||||||||||||||
| Total billed business | 8 | 8 | 11 | 12 | ||||||||||||||||||||||
| U.S. Consumer Services | 10 | 13 | ||||||||||||||||||||||||
| Commercial Services | 2 | 2 | 6 | 6 | ||||||||||||||||||||||
| International Card Services | 15 | 17 | 18 | 23 | ||||||||||||||||||||||
| Processed volumes | 9 | 13 | 8 | 14 | ||||||||||||||||||||||
| Merchant industry billed business metrics | ||||||||||||||||||||||||||
G&S spend (73% and 72% of billed business for the three and six months ended June 30, 2023, respectively) | 6 | 6 | 7 | 8 | ||||||||||||||||||||||
T&E spend (27% and 28% of billed business for the three and six months ended June 30, 2023, respectively) | 14 | 14 | 24 | 25 | ||||||||||||||||||||||
Airline spend (7% of billed business for both the three and six months ended June 30, 2023) | 12 | % | 12 | % | 31 | % | 33 | % | ||||||||||||||||||
As of or for the Three Months Ended June 30, | Change 2023 vs. 2022 | As of or for the Six Months Ended June 30, | Change 2023 vs. 2022 | |||||||||||||||||||||||||||||||||||
| (Millions, except percentages and where indicated) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||
| Card Member loans and receivables: | ||||||||||||||||||||||||||||||||||||||
Net write-off rate — principal, interest and fees (a) | 2.0 | % | 0.9 | % | 1.9 | % | 0.9 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only - consumer and small business (a)(b) | 1.8 | % | 0.8 | % | 1.7 | % | 0.8 | % | ||||||||||||||||||||||||||||||
30+ days past due as a % of total - consumer and small business (c) | 1.2 | % | 0.7 | % | 1.2 | % | 0.7 | % | ||||||||||||||||||||||||||||||
| Card Member loans: | ||||||||||||||||||||||||||||||||||||||
Card Member loans (billions) | $ | 114.6 | $ | 95.4 | 20 | % | $ | 114.6 | $ | 95.4 | 20 | % | ||||||||||||||||||||||||||
| Credit loss reserves: | ||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 4,053 | $ | 2,981 | 36 | $ | 3,747 | $ | 3,305 | 13 | ||||||||||||||||||||||||||||
| Provisions - principal, interest and fees | 923 | 272 | # | 1,709 | 161 | # | ||||||||||||||||||||||||||||||||
| Net write-offs — principal less recoveries | (490) | (192) | # | (887) | (357) | # | ||||||||||||||||||||||||||||||||
| Net write-offs — interest and fees less recoveries | (107) | (55) | 95 | (196) | (105) | 87 | ||||||||||||||||||||||||||||||||
Other (d) | 11 | (9) | # | 17 | (7) | # | ||||||||||||||||||||||||||||||||
| Ending balance | $ | 4,390 | $ | 2,997 | 46 | $ | 4,390 | $ | 2,997 | 46 | ||||||||||||||||||||||||||||
| % of loans | 3.8 | % | 3.1 | % | 3.8 | % | 3.1 | % | ||||||||||||||||||||||||||||||
| % of past due | 336 | % | 441 | % | 336 | % | 441 | % | ||||||||||||||||||||||||||||||
Average loans (billions) | $ | 112.4 | $ | 92.4 | 22 | $ | 110.2 | $ | 89.7 | 23 | ||||||||||||||||||||||||||||
Net write-off rate — principal, interest and fees (a) | 2.1 | % | 1.1 | % | 2.0 | % | 1.0 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only (a) | 1.7 | % | 0.8 | % | 1.6 | % | 0.8 | % | ||||||||||||||||||||||||||||||
30+ days past due as a % of total | 1.1 | % | 0.7 | % | 1.1 | % | 0.7 | % | ||||||||||||||||||||||||||||||
| Card Member receivables: | ||||||||||||||||||||||||||||||||||||||
Card Member receivables (billions) | $ | 58.2 | $ | 56.0 | 4 | $ | 58.2 | $ | 56.0 | 4 | ||||||||||||||||||||||||||||
| Credit loss reserves: | ||||||||||||||||||||||||||||||||||||||
| Beginning balance | $ | 223 | $ | 76 | # | $ | 229 | $ | 64 | # | ||||||||||||||||||||||||||||
| Provisions - principal and fees | 230 | 138 | 67 | 452 | 218 | # | ||||||||||||||||||||||||||||||||
Net write-offs — principal and fees less recoveries | (243) | (95) | # | (473) | (162) | # | ||||||||||||||||||||||||||||||||
Other (d) | — | — | — | 2 | (1) | # | ||||||||||||||||||||||||||||||||
| Ending balance | $ | 210 | $ | 119 | 76 | % | $ | 210 | $ | 119 | 76 | % | ||||||||||||||||||||||||||
| % of receivables | 0.4 | % | 0.2 | % | 0.4 | % | 0.2 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal and fees (a) | 1.7 | % | 0.7 | % | 1.6 | % | 0.6 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only - consumer and small business (a)(b) | 1.9 | % | 0.8 | % | 1.9 | % | 0.7 | % | ||||||||||||||||||||||||||||||
30+ days past due as a % of total - consumer and small business (c) | 1.2 | % | 0.8 | % | 1.2 | % | 0.8 | % | ||||||||||||||||||||||||||||||
| # Denotes a variance of 100 percent or more | ||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| (Millions, except percentages and where indicated) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
| Net interest income | $ | 3,105 | $ | 2,360 | $ | 6,088 | $ | 4,559 | ||||||||||||||||||
| Exclude: | ||||||||||||||||||||||||||
Interest expense not attributable to our Card Member loan portfolio (a) | 728 | 211 | 1,352 | 369 | ||||||||||||||||||||||
Interest income not attributable to our Card Member loan portfolio (b) | (703) | (167) | (1,305) | (272) | ||||||||||||||||||||||
Adjusted net interest income (c) | $ | 3,130 | $ | 2,404 | $ | 6,135 | $ | 4,656 | ||||||||||||||||||
Average Card Member loans (billions) | $ | 112.4 | $ | 92.4 | $ | 110.2 | $ | 89.7 | ||||||||||||||||||
Net interest income divided by average Card Member loans (c) | 11.1 | % | 10.2 | % | 11.1 | % | 10.2 | % | ||||||||||||||||||
Net interest yield on average Card Member loans (c) | 11.2 | % | 10.4 | % | 11.2 | % | 10.5 | % | ||||||||||||||||||
Three Months Ended June 30, | Change | Six Months Ended June 30, | Change | |||||||||||||||||||||||||||||||||||||||||||||||
| (Millions, except percentages) | 2023 | 2022 | 2023 vs. 2022 | 2023 | 2022 | 2023 vs. 2022 | ||||||||||||||||||||||||||||||||||||||||||||
| Revenues | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-interest revenues | $ | 4,643 | $ | 4,154 | $ | 489 | 12 | % | $ | 9,002 | $ | 7,791 | $ | 1,211 | 16 | % | ||||||||||||||||||||||||||||||||||
| Interest income | 2,934 | 1,893 | 1,041 | 55 | 5,709 | 3,629 | 2,080 | 57 | ||||||||||||||||||||||||||||||||||||||||||
| Interest expense | 647 | 136 | 511 | # | 1,198 | 239 | 959 | # | ||||||||||||||||||||||||||||||||||||||||||
| Net interest income | 2,287 | 1,757 | 530 | 30 | 4,511 | 3,390 | 1,121 | 33 | ||||||||||||||||||||||||||||||||||||||||||
| Total revenues net of interest expense | 6,930 | 5,911 | 1,019 | 17 | 13,513 | 11,181 | 2,332 | 21 | ||||||||||||||||||||||||||||||||||||||||||
| Provisions for credit losses | 659 | 192 | 467 | # | 1,243 | 76 | 1,167 | # | ||||||||||||||||||||||||||||||||||||||||||
| Total revenues net of interest expense after provisions for credit losses | 6,271 | 5,719 | 552 | 10 | 12,270 | 11,105 | 1,165 | 10 | ||||||||||||||||||||||||||||||||||||||||||
| Total expenses | 5,021 | 4,446 | 575 | 13 | 9,890 | 8,300 | 1,590 | 19 | ||||||||||||||||||||||||||||||||||||||||||
| Pretax segment income | $ | 1,250 | $ | 1,273 | $ | (23) | (2) | % | $ | 2,380 | $ | 2,805 | $ | (425) | (15) | % | ||||||||||||||||||||||||||||||||||
| # Denotes a variance of 100 percent or more | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of or for the Three Months Ended June 30, | Change 2023 vs. 2022 | As of or for the Six Months Ended June 30, | Change 2023 vs. 2022 | |||||||||||||||||||||||||||||||||||
| (Millions, except percentages and where indicated) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||
Billed business (billions) | $ | 155.4 | $ | 141.1 | 10 | % | $ | 297.6 | $ | 263.7 | 13 | % | ||||||||||||||||||||||||||
| Proprietary cards-in-force | 43.2 | 40.3 | 7 | 43.2 | 40.3 | 7 | ||||||||||||||||||||||||||||||||
| Proprietary basic cards-in-force | 30.2 | 28.3 | 7 | 30.2 | 28.3 | 7 | ||||||||||||||||||||||||||||||||
Average proprietary basic Card Member spending (dollars) | $ | 5,181 | $ | 5,028 | 3 | $ | 10,005 | $ | 9,480 | 6 | ||||||||||||||||||||||||||||
Total segment assets (billions) | $ | 94.9 | $ | 82.4 | 15 | $ | 94.9 | $ | 82.4 | 15 | ||||||||||||||||||||||||||||
| Card Member loans: | ||||||||||||||||||||||||||||||||||||||
Total loans (billions) | $ | 75.6 | $ | 63.7 | 19 | $ | 75.6 | $ | 63.7 | 19 | ||||||||||||||||||||||||||||
Average loans (billions) | $ | 74.2 | $ | 61.6 | 20 | $ | 73.1 | $ | 60.0 | 22 | ||||||||||||||||||||||||||||
Net write-off rate — principal, interest and fees (a) | 2.1 | % | 1.1 | % | 2.0 | % | 1.1 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only (a) | 1.7 | % | 0.8 | % | 1.6 | % | 0.8 | % | ||||||||||||||||||||||||||||||
| 30+ days past due as a % of total | 1.1 | % | 0.7 | % | 1.1 | % | 0.7 | % | ||||||||||||||||||||||||||||||
| Calculation of Net Interest Yield on Average Card Member Loans: | ||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 2,287 | $ | 1,757 | $ | 4,511 | $ | 3,390 | ||||||||||||||||||||||||||||||
| Exclude: | ||||||||||||||||||||||||||||||||||||||
Interest expense not attributable to our Card Member loan portfolio (b) | 44 | 26 | 80 | 60 | ||||||||||||||||||||||||||||||||||
Interest income not attributable to our Card Member loan portfolio (c) | (91) | (52) | (173) | (94) | ||||||||||||||||||||||||||||||||||
Adjusted net interest income (d) | $ | 2,240 | $ | 1,731 | $ | 4,418 | $ | 3,356 | ||||||||||||||||||||||||||||||
Average Card Member loans (billions) | $ | 74.2 | $ | 61.6 | $ | 73.1 | $ | 59.9 | ||||||||||||||||||||||||||||||
Net interest income divided by average Card Member loans (d) | 12.4 | % | 11.4 | % | 12.4 | % | 11.4 | % | ||||||||||||||||||||||||||||||
Net interest yield on average Card Member loans (d) | 12.1 | % | 11.3 | % | 12.2 | % | 11.3 | % | ||||||||||||||||||||||||||||||
Card Member receivables: | ||||||||||||||||||||||||||||||||||||||
Total receivables (billions) | $ | 13.7 | $ | 13.8 | (1) | % | $ | 13.7 | $ | 13.8 | (1) | % | ||||||||||||||||||||||||||
Net write-off rate — principal and fees (a) | 1.3 | % | 0.5 | % | 1.3 | % | 0.4 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only (a) | 1.2 | % | 0.5 | % | 1.2 | % | 0.4 | % | ||||||||||||||||||||||||||||||
| 30+ days past due as a % of total | 0.8 | % | 0.6 | % | 0.8 | % | 0.6 | % | ||||||||||||||||||||||||||||||
Three Months Ended June 30, | Change 2023 vs. 2022 | Six Months Ended June 30, | Change 2023 vs. 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
| (Millions, except percentages) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||||
| Revenues | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-interest revenues | $ | 3,301 | $ | 3,122 | $ | 179 | 6 | % | $ | 6,408 | $ | 5,841 | $ | 567 | 10 | % | ||||||||||||||||||||||||||||||||||
| Interest income | 792 | 468 | 324 | 69 | 1,498 | 883 | 615 | 70 | ||||||||||||||||||||||||||||||||||||||||||
| Interest expense | 364 | 121 | 243 | # | 685 | 208 | 477 | # | ||||||||||||||||||||||||||||||||||||||||||
| Net interest income | 428 | 347 | 81 | 23 | 813 | 675 | 138 | 20 | ||||||||||||||||||||||||||||||||||||||||||
| Total revenues net of interest expense | 3,729 | 3,469 | 260 | 7 | 7,221 | 6,516 | 705 | 11 | ||||||||||||||||||||||||||||||||||||||||||
| Provisions for credit losses | 339 | 97 | 242 | # | 622 | 98 | 524 | # | ||||||||||||||||||||||||||||||||||||||||||
| Total revenues net of interest expense after provisions for credit losses | 3,390 | 3,372 | 18 | 1 | 6,599 | 6,418 | 181 | 3 | ||||||||||||||||||||||||||||||||||||||||||
| Total expenses | 2,677 | 2,594 | 83 | 3 | 5,256 | 4,859 | 397 | 8 | ||||||||||||||||||||||||||||||||||||||||||
| Pretax segment income | $ | 713 | $ | 778 | $ | (65) | (8) | % | $ | 1,343 | $ | 1,559 | $ | (216) | (14) | % | ||||||||||||||||||||||||||||||||||
| # Denotes a variance of 100 percent or more | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of or for the Three Months Ended June 30, | Change 2023 vs 2022 | As of or for the Six Months Ended June 30, | Change 2023 vs 2022 | |||||||||||||||||||||||||||||||||||
| (Millions, except percentages and where indicated) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||
Billed business (billions) | $ | 130.2 | $ | 127.9 | 2 | % | $ | 255.2 | $ | 241.5 | 6 | % | ||||||||||||||||||||||||||
| Proprietary cards-in-force | 15.4 | 14.2 | 8 | 15.4 | 14.2 | 8 | ||||||||||||||||||||||||||||||||
Average Card Member spending (dollars) | $ | 8,490 | $ | 9,146 | (7) | $ | 16,775 | $ | 17,526 | (4) | ||||||||||||||||||||||||||||
Total segment assets (billions) | $ | 54.3 | $ | 49.4 | 10 | $ | 54.3 | $ | 49.4 | 10 | ||||||||||||||||||||||||||||
| Card Member loans: | ||||||||||||||||||||||||||||||||||||||
Total loans (billions) | $ | 23.8 | $ | 19.4 | 23 | $ | 23.8 | $ | 19.4 | 23 | ||||||||||||||||||||||||||||
Average loans (billions) | $ | 23.5 | $ | 18.8 | 25 | $ | 22.8 | $ | 17.9 | 27 | ||||||||||||||||||||||||||||
Net write-off rate — principal, interest and fees (a) | 1.9 | % | 0.8 | % | 1.7 | % | 0.7 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only (a) | 1.6 | % | 0.6 | % | 1.4 | % | 0.6 | % | ||||||||||||||||||||||||||||||
| 30+ days past due as a % of total | 1.2 | % | 0.6 | % | 1.2 | % | 0.6 | % | ||||||||||||||||||||||||||||||
| Calculation of Net Interest Yield on Average Card Member Loans: | ||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 428 | $ | 347 | $ | 813 | $ | 675 | ||||||||||||||||||||||||||||||
| Exclude: | ||||||||||||||||||||||||||||||||||||||
Interest expense not attributable to our Card Member loan portfolio (b) | 178 | 85 | 340 | 148 | ||||||||||||||||||||||||||||||||||
Interest income not attributable to our Card Member loan portfolio (c) | (46) | (18) | (84) | (34) | ||||||||||||||||||||||||||||||||||
Adjusted net interest income (d) | $ | 560 | $ | 414 | $ | 1,069 | $ | 789 | ||||||||||||||||||||||||||||||
Average Card Member loans (billions) | $ | 23.5 | $ | 18.8 | $ | 22.8 | $ | 17.9 | ||||||||||||||||||||||||||||||
Net interest income divided by average Card Member loans (d) | 7.3 | % | 7.4 | % | 7.2 | % | 7.6 | % | ||||||||||||||||||||||||||||||
Net interest yield on average Card Member loans (d) | 9.6 | % | 8.8 | % | 9.5 | % | 8.9 | % | ||||||||||||||||||||||||||||||
| Card Member receivables: | ||||||||||||||||||||||||||||||||||||||
Total receivables (billions) | $ | 27.2 | $ | 27.1 | — | % | $ | 27.2 | $ | 27.1 | — | % | ||||||||||||||||||||||||||
Net write-off rate — principal and fees (e) | 1.5 | % | 0.6 | % | 1.5 | % | 0.5 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only (a) - small business | 2.1 | % | 0.7 | % | 2.1 | % | 0.6 | % | ||||||||||||||||||||||||||||||
30+ days past due as a % of total - small business | 1.7 | % | 0.9 | % | 1.7 | % | 0.9 | % | ||||||||||||||||||||||||||||||
90+ days past billing as a % of total (e) - corporate | 0.5 | % | 0.4 | % | 0.5 | % | 0.4 | % | ||||||||||||||||||||||||||||||
Three Months Ended June 30, | Change | Six Months Ended June 30, | Change | |||||||||||||||||||||||||||||||||||||||||||||||
| (Millions, except percentages) | 2023 | 2022 | 2023 vs. 2022 | 2023 | 2022 | 2023 vs. 2022 | ||||||||||||||||||||||||||||||||||||||||||||
| Revenues | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-interest revenues | $ | 2,349 | $ | 2,140 | $ | 209 | 10 | % | $ | 4,616 | $ | 3,999 | $ | 617 | 15 | % | ||||||||||||||||||||||||||||||||||
| Interest income | 497 | 347 | 150 | 43 | 964 | 671 | 293 | 44 | ||||||||||||||||||||||||||||||||||||||||||
| Interest expense | 261 | 144 | 117 | 81 | 485 | 267 | 218 | 82 | ||||||||||||||||||||||||||||||||||||||||||
| Net interest income | 236 | 203 | 33 | 16 | 479 | 404 | 75 | 19 | ||||||||||||||||||||||||||||||||||||||||||
| Total revenues net of interest expense | 2,585 | 2,343 | 242 | 10 | 5,095 | 4,403 | 692 | 16 | ||||||||||||||||||||||||||||||||||||||||||
| Provisions for credit losses | 198 | 116 | 82 | 71 | 379 | 198 | 181 | 91 | ||||||||||||||||||||||||||||||||||||||||||
| Total revenues net of interest expense after provisions for credit losses | 2,387 | 2,227 | 160 | 7 | 4,716 | 4,205 | 511 | 12 | ||||||||||||||||||||||||||||||||||||||||||
| Total expenses | 2,134 | 2,044 | 90 | 4 | 4,274 | 3,778 | 496 | 13 | ||||||||||||||||||||||||||||||||||||||||||
| Pretax segment income | $ | 253 | $ | 183 | $ | 70 | 38 | % | $ | 442 | $ | 427 | $ | 15 | 4 | % | ||||||||||||||||||||||||||||||||||
As of or for the Three Months Ended June 30, | Change 2023 vs. 2022 | As of or for the Six Months Ended June 30, | Change 2023 vs. 2022 | |||||||||||||||||||||||||||||||||||
| (Millions, except percentages and where indicated) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||
Billed business (billions) | $ | 81.8 | $ | 71.0 | 15 | % | $ | 158.7 | $ | 134.2 | 18 | % | ||||||||||||||||||||||||||
| Proprietary cards-in-force | 20.7 | 19.6 | 6 | 20.7 | 19.6 | 6 | ||||||||||||||||||||||||||||||||
| Proprietary basic cards-in-force | 15.4 | 14.4 | 7 | 15.4 | 14.4 | 7 | ||||||||||||||||||||||||||||||||
Average proprietary basic Card Member spending (dollars) | $ | 5,360 | $ | 4,967 | 8 | $ | 10,473 | $ | 9,476 | 11 | ||||||||||||||||||||||||||||
Total segment assets (billions) | $ | 38.2 | $ | 33.7 | 13 | $ | 38.2 | $ | 33.7 | 13 | ||||||||||||||||||||||||||||
| Card Member loans - consumer and small business: | ||||||||||||||||||||||||||||||||||||||
Total loans (billions) | $ | 15.2 | $ | 12.3 | 24 | $ | 15.2 | $ | 12.3 | 24 | ||||||||||||||||||||||||||||
Average loans (billions) | $ | 14.7 | $ | 12.0 | 23 | $ | 14.4 | $ | 11.8 | 22 | ||||||||||||||||||||||||||||
Net write-off rate - principal, interest and fees (a) | 2.8 | % | 1.3 | % | 2.5 | % | 1.3 | % | ||||||||||||||||||||||||||||||
Net write-off rate - principal only (a) | 2.4 | % | 1.1 | % | 2.1 | % | 1.0 | % | ||||||||||||||||||||||||||||||
| 30+ days past due as a % of total | 1.3 | % | 0.9 | % | 1.3 | % | 0.9 | % | ||||||||||||||||||||||||||||||
| Calculation of Net Interest Yield on Average Card Member Loans: | ||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 236 | $ | 203 | $ | 479 | $ | 404 | ||||||||||||||||||||||||||||||
| Exclude: | ||||||||||||||||||||||||||||||||||||||
Interest expense not attributable to our Card Member loan portfolio (b) | 110 | 61 | 198 | 115 | ||||||||||||||||||||||||||||||||||
Interest income not attributable to our Card Member loan portfolio (c) | (16) | (5) | (29) | (8) | ||||||||||||||||||||||||||||||||||
Adjusted net interest income (d) | $ | 330 | $ | 259 | $ | 648 | $ | 511 | ||||||||||||||||||||||||||||||
Average Card Member loans (billions) | $ | 14.7 | $ | 12.1 | $ | 14.4 | $ | 11.8 | ||||||||||||||||||||||||||||||
Net interest income divided by average Card Member loans (d) | 6.4 | % | 6.7 | % | 6.7 | % | 6.9 | % | ||||||||||||||||||||||||||||||
Net interest yield on average Card Member loans (d) | 9.0 | % | 8.6 | % | 9.1 | % | 8.7 | % | ||||||||||||||||||||||||||||||
| Card Member receivables: | ||||||||||||||||||||||||||||||||||||||
Total receivables (billions) | $ | 17.3 | $ | 15.1 | 15 | % | $ | 17.3 | $ | 15.1 | 15 | % | ||||||||||||||||||||||||||
Net write-off rate — principal and fees (e) | 2.3 | % | 1.1 | % | 2.2 | % | 1.0 | % | ||||||||||||||||||||||||||||||
Net write-off rate — principal only (a) - consumer and small business | 2.5 | % | 1.2 | % | 2.4 | % | 1.1 | % | ||||||||||||||||||||||||||||||
30+ days past due as a % of total - consumer and small business | 1.2 | % | 1.0 | % | 1.2 | % | 1.0 | % | ||||||||||||||||||||||||||||||
90+ days past billing as a % of total (e) - corporate | 0.5 | % | 0.5 | % | 0.5 | % | 0.5 | % | ||||||||||||||||||||||||||||||
Three Months Ended June 30, | Change 2023 vs. 2022 | Six Months Ended June 30, | Change 2023 vs. 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
| (Millions, except percentages and where indicated) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||||
| Revenues | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-interest revenues | $ | 1,675 | $ | 1,568 | $ | 107 | 7 | % | $ | 3,271 | $ | 2,940 | $ | 331 | 11 | % | ||||||||||||||||||||||||||||||||||
| Interest income | 14 | 5 | 9 | # | 28 | 7 | 21 | # | ||||||||||||||||||||||||||||||||||||||||||
| Interest expense | (174) | (61) | (113) | # | (305) | (105) | (200) | # | ||||||||||||||||||||||||||||||||||||||||||
| Net interest income | 188 | 66 | 122 | # | 333 | 112 | 221 | # | ||||||||||||||||||||||||||||||||||||||||||
| Total revenues net of interest expense | 1,863 | 1,634 | 229 | 14 | 3,604 | 3,052 | 552 | 18 | ||||||||||||||||||||||||||||||||||||||||||
| Provisions for credit losses | 1 | 2 | (1) | (50) | 7 | 3 | 4 | # | ||||||||||||||||||||||||||||||||||||||||||
| Total revenues net of interest expense after provisions for credit losses | 1,862 | 1,632 | 230 | 14 | 3,597 | 3,049 | 548 | 18 | ||||||||||||||||||||||||||||||||||||||||||
| Total expenses | 899 | 830 | 69 | 8 | 1,749 | 1,578 | 171 | 11 | ||||||||||||||||||||||||||||||||||||||||||
| Pretax segment income | 963 | 802 | 161 | 20 | 1,848 | 1,471 | 377 | 26 | ||||||||||||||||||||||||||||||||||||||||||
Network volumes (billions) | 426.6 | 394.8 | $ | 32 | 8 | 825.5 | 745.1 | $ | 80 | 11 | ||||||||||||||||||||||||||||||||||||||||
Total segment assets (billions) | $ | 17.0 | $ | 16.0 | 6 | % | $ | 17.0 | $ | 16.0 | 6 | % | ||||||||||||||||||||||||||||||||||||||
| # Denotes a variance of 100 percent or more | ||||||||||||||||||||||||||||||||||||||||||||||||||
Effective Minimum (a) | Ratios as of June 30, 2023 | |||||||||||||
| Risk-Based Capital | ||||||||||||||
| Common Equity Tier 1 | 7.0 | % | ||||||||||||
| American Express Company | 10.6 | % | ||||||||||||
| American Express National Bank | 11.4 | |||||||||||||
| Tier 1 | 8.5 | % | ||||||||||||
| American Express Company | 11.4 | |||||||||||||
| American Express National Bank | 11.4 | |||||||||||||
| Total | 10.5 | % | ||||||||||||
| American Express Company | 13.1 | |||||||||||||
| American Express National Bank | 13.2 | |||||||||||||
| Tier 1 Leverage | 4.0 | % | ||||||||||||
| American Express Company | 9.9 | |||||||||||||
| American Express National Bank | 9.3 | % | ||||||||||||
American Express Company ($ in Billions) | June 30, 2023 | |||||||
| Risk-Based Capital | ||||||||
| Common Equity Tier 1 | $ | 21.8 | ||||||
| Tier 1 Capital | 23.4 | |||||||
Tier 2 Capital | 3.4 | |||||||
| Total Capital | 26.8 | |||||||
| Risk-Weighted Assets | 205.3 | |||||||
| Average Total Assets to calculate the Tier 1 Leverage Ratio | $ | 237.0 | ||||||
| (Billions) | June 30, 2023 | December 31, 2022 | ||||||||||||
| Customer deposits | $ | 122.8 | $ | 110.2 | ||||||||||
| Short-term borrowings | 1.6 | 1.3 | ||||||||||||
| Long-term debt | 46.7 | 42.6 | ||||||||||||
| Total customer deposits and debt | $ | 171.1 | $ | 154.1 | ||||||||||
| (Billions) | Three Months Ended June 30, 2023 | |||||||
| American Express Company: | ||||||||
Fixed-to-Floating Rate Senior Notes (weighted-average coupon of 5.02% during the fixed rate periods and compounded SOFR(a) plus weighted-average spread of 142 basis points during the floating rate periods) | 2.5 | |||||||
| American Express Credit Account Master Trust: | ||||||||
Fixed Rate Class A Certificates (weighted-average coupon of 4.85%) | 1.8 | |||||||
| Total | 4.3 | |||||||
| American Express Entity | Moody’s | S&P | Fitch | |||||||||||
| American Express Company | Long Term | A2 | BBB+ | 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-2 | F1 | |||||||||||
| Outlook | Stable | Stable | Stable | |||||||||||
| American Express National Bank | Long Term | A3 | A- | A | ||||||||||
| Short Term | P-1 | A-2 | 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 | |||||||||||
| (Billions) | 2023 | 2022 | ||||||||||||
| Total cash provided by (used in): | ||||||||||||||
| Operating activities | $ | 3.5 | $ | 8.1 | ||||||||||
| Investing activities | (9.3) | (15.4) | ||||||||||||
| Financing activities | 14.6 | 11.2 | ||||||||||||
| Effect of foreign currency exchange rates on cash and cash equivalents | 0.2 | 0.3 | ||||||||||||
| Net increase in cash and cash equivalents | $ | 9.0 | $ | 4.2 | ||||||||||
| Three Months Ended June 30 (Millions, except per share amounts) | 2023 | 2022 | ||||||||||||
| Revenues | ||||||||||||||
| Non-interest revenues | ||||||||||||||
| Discount revenue | $ | $ | ||||||||||||
| Net card fees | ||||||||||||||
| Service fees and other revenue | ||||||||||||||
| Processed 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) | 2023 | 2022 | ||||||||||||
| Revenues | ||||||||||||||
| Non-interest revenues | ||||||||||||||
| Discount revenue | $ | $ | ||||||||||||
| Net card fees | ||||||||||||||
| Service fees and other revenue | ||||||||||||||
| Processed 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) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
| 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, 2023 | December 31, 2022 | ||||||||||||
| Assets | ||||||||||||||
| Cash and cash equivalents | ||||||||||||||
Cash and due from banks (includes restricted cash of consolidated variable interest entities: 2023, $ | $ | $ | ||||||||||||
Interest-bearing deposits in other banks (includes securities purchased under resale agreements: 2023, $ | ||||||||||||||
Short-term investment securities (includes restricted investments of consolidated variable interest entities: 2023, $ | ||||||||||||||
| Total cash and cash equivalents | ||||||||||||||
Card Member receivables (includes gross receivables available to settle obligations of a consolidated variable interest entity: 2023, $ | ||||||||||||||
Card Member loans (includes gross loans available to settle obligations of a consolidated variable interest entity: 2023, $ | ||||||||||||||
Other loans, less reserves for credit losses: 2023, $ | ||||||||||||||
| Investment securities | ||||||||||||||
Premises and equipment, less accumulated depreciation and amortization: 2023, $ | ||||||||||||||
Other assets, less reserves for credit losses: 2023, $ | ||||||||||||||
| 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: 2023, $ | ||||||||||||||
| 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) | 2023 | 2022 | ||||||||||||
| 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) | ||||||||||||||
| Originations of loans held-for-sale | ( | ( | ||||||||||||
| Proceeds from sales of loans held-for-sale | ||||||||||||||
| 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 investment securities | ||||||||||||||
| Maturities and redemptions of investment securities | ||||||||||||||
| Purchase of investments | ( | ( | ||||||||||||
Net increase in Card Member loans and receivables, and other loans (b) | ( | ( | ||||||||||||
Purchase of premises and equipment, net of sales: 2023, $ | ( | ( | ||||||||||||
| Acquisitions/dispositions, net of cash acquired | ( | ( | ||||||||||||
| Net cash used in investing activities | ( | ( | ||||||||||||
| Cash Flows from Financing Activities | ||||||||||||||
| Net increase in customer deposits | ||||||||||||||
Net increase (decrease) in short-term borrowings (b) | ( | |||||||||||||
| 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 | $ | $ | ||||||||||||
| Cash and cash equivalents reconciliation | Jun-23 | Dec-22 | Jun-22 | Dec-21 | ||||||||||||||||||||||
| Cash and cash equivalents per Consolidated Balance Sheets | $ | $ | $ | $ | ||||||||||||||||||||||
| Restricted balances included in Cash and cash equivalents | ||||||||||||||||||||||||||
| Total Cash and cash equivalents, excluding restricted balances | $ | $ | $ | $ | ||||||||||||||||||||||
| Three months ended June 30, 2023 (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, 2023 | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
| Net income | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Other comprehensive loss | — | — | — | |||||||||||||||||||||||||||||||||||
| Repurchase of common shares | ( | — | ( | ( | — | ( | ||||||||||||||||||||||||||||||||
| Other changes, primarily employee plans | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Cash dividends declared preferred Series D, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared common, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
| Balances as of June 30, 2023 | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
| Six months ended June 30, 2023 (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, 2022 | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
| Net income | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Other comprehensive loss | — | — | — | |||||||||||||||||||||||||||||||||||
| Repurchase of common shares | ( | — | ( | ( | — | ( | ||||||||||||||||||||||||||||||||
| Other changes, primarily employee plans | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Cash dividends declared preferred Series D, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared common, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
| Balances as of June 30, 2023 | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
| Three months ended June 30, 2022 (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, 2022 | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
| Net income | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Other comprehensive loss | ( | — | — | — | ( | |||||||||||||||||||||||||||||||||
| Repurchase of common shares | ( | — | — | ( | — | ( | ||||||||||||||||||||||||||||||||
| Other changes, primarily employee plans | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Cash dividends declared preferred Series D, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared common, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
| Balances as of June 30, 2022 | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
| Six months ended June 30, 2022 (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, 2021 | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
| Net income | — | — | — | — | ||||||||||||||||||||||||||||||||||
| Other comprehensive loss | ( | — | — | — | ( | |||||||||||||||||||||||||||||||||
| Repurchase of common shares | ( | — | ( | ( | — | ( | ||||||||||||||||||||||||||||||||
| Other changes, primarily employee plans | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Cash dividends declared preferred Series D, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared common, $ | ( | — | — | — | — | ( | ||||||||||||||||||||||||||||||||
| Balances as of June 30, 2022 | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
| (Millions) | 2023 | 2022 | ||||||||||||
Consumer (a) | $ | $ | ||||||||||||
| Small Business | ||||||||||||||
| Corporate | ||||||||||||||
| Card Member loans | ||||||||||||||
| Less: Reserves for credit losses | ||||||||||||||
| Card Member loans, net | $ | $ | ||||||||||||
Other loans, net (b) | $ | $ | ||||||||||||
| (Millions) | 2023 | 2022 | ||||||||||||
Consumer | $ | $ | ||||||||||||
| Small Business | ||||||||||||||
Corporate (a) | ||||||||||||||
| Card Member receivables | ||||||||||||||
| Less: Reserves for credit losses | ||||||||||||||
| Card Member receivables, net | $ | $ | ||||||||||||
2023 (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) | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||
2022 (Millions) | Current | 30-59 Days Past Due | 60-89 Days Past Due | 90+ Days Past Due | Total | |||||||||||||||||||||||||||
| Card Member Loans: | ||||||||||||||||||||||||||||||||
| Consumer | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
| Small Business | ||||||||||||||||||||||||||||||||
Corporate (a) | (b) | (b) | (b) | |||||||||||||||||||||||||||||
| Card Member Receivables: | ||||||||||||||||||||||||||||||||
| Consumer | ||||||||||||||||||||||||||||||||
| Small Business | $ | $ | $ | |||||||||||||||||||||||||||||
Corporate (a) | (b) | (b) | (b) | $ | $ | |||||||||||||||||||||||||||
| 2023 | 2022 | |||||||||||||||||||||||||||||||||||||
| 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) | ||||||||||||||||||||||||||||||||
| Three Months Ended June 30, 2023 | Six Months Ended June 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||
As of June 30, 2023 | ||||||||||||||||||||
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 December 31, 2022 | ||||||||||||||||||||||||||||||||||||||
Accounts Classified as a TDR (c) | ||||||||||||||||||||||||||||||||||||||
2022 (Millions) | Over 90 days Past Due & Accruing Interest (a) | Non- Accruals (b) | In Program (d) | Out of Program (e) | Total Impaired Balance | Reserve for Credit Losses- TDRs | ||||||||||||||||||||||||||||||||
| Card Member Loans | ||||||||||||||||||||||||||||||||||||||
| Consumer | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
| Small Business | ||||||||||||||||||||||||||||||||||||||
| Corporate | ||||||||||||||||||||||||||||||||||||||
| Card Member Receivables | ||||||||||||||||||||||||||||||||||||||
| Consumer | ||||||||||||||||||||||||||||||||||||||
| Small Business | ||||||||||||||||||||||||||||||||||||||
| Corporate | ||||||||||||||||||||||||||||||||||||||
| Other Loans | ||||||||||||||||||||||||||||||||||||||
| Total | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
| Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Number of Accounts (thousands) | Account Balances (millions)(a) | Average Interest Rate Reduction (% Points) | Average Payment Term Extensions (# of Months) | Number of Accounts (thousands) | Account Balances (millions)(a) | Average Interest Rate Reduction (% Points) | Average Payment Term Extensions (# of Months) | |||||||||||||||||||||||||||||||||||||||||||
| Troubled Debt Restructurings: | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Card Member Loans | $ | (b) | $ | (b) | ||||||||||||||||||||||||||||||||||||||||||||||
| Card Member Receivables | (c) | (c) | ||||||||||||||||||||||||||||||||||||||||||||||||
| Other Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | |||||||||||||||||||||||||
| Number of Accounts (thousands) | Aggregated Outstanding Balances Upon Default (millions)(a) | Number of Accounts (thousands) | Aggregated Outstanding Balances Upon Default (millions)(a) | |||||||||||||||||||||||
| Troubled Debt Restructurings That Subsequently Defaulted: | ||||||||||||||||||||||||||
| Card Member Loans | $ | $ | $ | |||||||||||||||||||||||
| Card Member Receivables | ||||||||||||||||||||||||||
| Other Loans | ||||||||||||||||||||||||||
| Total | $ | $ | ||||||||||||||||||||||||
| U.S. Unemployment Rate | U.S. GDP Growth (Contraction) (a) | |||||||||||||||||||||||||
| June 30, 2023 | December 31, 2022 | June 30, 2023 | December 31, 2022 | |||||||||||||||||||||||
Second quarter of 2023 | ||||||||||||||||||||||||||
Fourth quarter of 2023 | ||||||||||||||||||||||||||
Fourth quarter of 2024 | ||||||||||||||||||||||||||
Fourth quarter of 2025 | ||||||||||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| (Millions) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
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) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
Beginning Balance | $ | $ | $ | $ | ||||||||||||||||||||||
Provisions (a) | ||||||||||||||||||||||||||
Net write-offs (b) | ( | ( | ( | ( | ||||||||||||||||||||||
Other (c) | ( | |||||||||||||||||||||||||
| Ending Balance | $ | $ | $ | $ | ||||||||||||||||||||||
| 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | $ | $ | ( | $ | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||||||||||||
| 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
| 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 | ( | |||||||||||||||||||||||||||||||||||||||||||||||||
| Foreign government bonds and obligations | ( | |||||||||||||||||||||||||||||||||||||||||||||||||
| 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 | |||||||||||||||||||||||||||||||||||||||||||||||
| 2023: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 90–100% | $ | $ | ( | $ | $ | ( | $ | $ | ( | |||||||||||||||||||||||||||||||||||||||||||||||
| Less than 90% | $ | $ | $ | $ | ( | $ | $ | ( | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total as of June 30, 2023 | $ | $ | ( | $ | $ | ( | $ | $ | ( | |||||||||||||||||||||||||||||||||||||||||||||||
| 2022: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 90–100% | $ | $ | ( | $ | $ | ( | $ | $ | ( | |||||||||||||||||||||||||||||||||||||||||||||||
| Less than 90% | $ | $ | ( | $ | $ | $ | $ | ( | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total as of December 31, 2022 | $ | $ | ( | $ | $ | ( | $ | $ | ( | |||||||||||||||||||||||||||||||||||||||||||||||
| (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) | 2023 | 2022 | ||||||||||||
| U.S.: | ||||||||||||||
| Interest-bearing | $ | $ | ||||||||||||
Non-interest-bearing (includes Card Member credit balances of: 2023, $ | ||||||||||||||
| Non-U.S.: | ||||||||||||||
| Interest-bearing | ||||||||||||||
Non-interest-bearing (includes Card Member credit balances of: 2023, $ | ||||||||||||||
| Total customer deposits | $ | $ | ||||||||||||
| (Millions) | 2023 | 2022 | ||||||||||||
| Savings and transaction accounts | $ | $ | ||||||||||||
Certificates of deposit: | ||||||||||||||
| Direct | ||||||||||||||
| Third-party (brokered) | ||||||||||||||
| Sweep accounts – Third-party (brokered) | ||||||||||||||
| Other deposits | ||||||||||||||
| Card Member credit balances | ||||||||||||||
| Total customer deposits | $ | $ | ||||||||||||
| (Millions) | 2023 | 2024 | 2025 | 2026 | 2027 | After 5 Years | Total | |||||||||||||||||||||||||||||||||||||
| Certificates of deposit | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||
| (Millions) | 2023 | 2022 | ||||||||||||
| U.S. | $ | $ | ||||||||||||
| Non-U.S. | ||||||||||||||
| Total | $ | $ | ||||||||||||
| Other Assets Fair Value | Other Liabilities Fair Value | |||||||||||||||||||||||||
| (Millions) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
| 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) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
| Fixed-rate long-term debt | $ | $ | $ | ( | $ | |||||||||||||||||||||
| Derivatives designated as hedging instruments | ( | ( | ( | |||||||||||||||||||||||
| Total | $ | ( | $ | $ | ( | $ | ( | |||||||||||||||||||
| 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
| (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 | |||||||||||||||||||||||||||||||
| 2023 (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) | ||||||||||||||||||||||||||||||||
| 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 | |||||||||||||||||||||||||||||||
| 2022 (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) | ||||||||||||||||||||||||||||||||
| 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) | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
| Three Months Ended June 30, 2023 (Millions), net of tax | 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) | ||||||||||||||||||||||
| Balances as of March 31, 2023 | $ | ( | $ | ( | $ | ( | $ | ( | ||||||||||||||||||
| Net change | ( | |||||||||||||||||||||||||
| Balances as of June 30, 2023 | $ | ( | $ | ( | $ | ( | $ | ( | ||||||||||||||||||
| Six Months Ended June 30, 2023 (Millions), net of tax | 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) | ||||||||||||||||||||||
| Balances as of December 31, 2022 | $ | ( | $ | ( | $ | ( | $ | ( | ||||||||||||||||||
| Net change | ||||||||||||||||||||||||||
| Balances as of June 30, 2023 | $ | ( | $ | ( | $ | ( | $ | ( | ||||||||||||||||||
| Three Months Ended June 30, 2022 (Millions), net of tax | 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) | ||||||||||||||||||||||
| Balances as of March 31, 2022 | $ | ( | $ | ( | $ | ( | $ | ( | ||||||||||||||||||
| Net change | ( | ( | ( | |||||||||||||||||||||||
| Balances as of June 30, 2022 | $ | ( | $ | ( | $ | ( | $ | ( | ||||||||||||||||||
| Six Months Ended June 30, 2022 (Millions), net of tax | 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) | ||||||||||||||||||||||
| Balances as of December 31, 2021 | $ | $ | ( | $ | ( | $ | ( | |||||||||||||||||||
| Net change | ( | ( | ( | |||||||||||||||||||||||
| Balances as of June 30, 2022 | $ | ( | $ | ( | $ | ( | $ | ( | ||||||||||||||||||
| Tax expense (benefit) | ||||||||||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| (Millions) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
| Net unrealized gains (losses) 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) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
| Service fees | $ | $ | $ | $ | ||||||||||||||||||||||
| Foreign currency-related revenue | ||||||||||||||||||||||||||
| Delinquency fees | ||||||||||||||||||||||||||
| Travel commissions and fees | ||||||||||||||||||||||||||
| Other fees and revenues | ||||||||||||||||||||||||||
| Total Service fees and other revenue | $ | $ | $ | $ | ||||||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| (Millions) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
Data processing and equipment | $ | $ | $ | $ | ||||||||||||||||||||||
| Professional services | ||||||||||||||||||||||||||
Net unrealized and realized losses on Amex Ventures investments (a) | ||||||||||||||||||||||||||
Other | ||||||||||||||||||||||||||
| Total Other expenses | $ | $ | $ | $ | ||||||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| (Millions, except per share amounts) | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
| 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 | $ | $ | $ | $ | ||||||||||||||||||||||
| As of or for the Three Months Ended June 30, 2023 (Millions, except where indicated) | USCS | CS | ICS | GMNS | Corporate & Other (a) | Consolidated | ||||||||||||||||||||||||||||||||
| Total non-interest revenues | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
Revenue from contracts with customers (b) | ( | |||||||||||||||||||||||||||||||||||||
| Interest income | ||||||||||||||||||||||||||||||||||||||
| Interest expense | ( | |||||||||||||||||||||||||||||||||||||
| Total revenues net of interest expense | ( | |||||||||||||||||||||||||||||||||||||
| Pretax income (loss) | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
Total assets (billions) | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
| For the Six Months Ended June 30, 2023 (Millions) | USCS | CS | ICS | GMNS | Corporate & Other (a) | Consolidated | ||||||||||||||||||||||||||||||||
| Total non-interest revenues | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
Revenue from contracts with customers (b) | ( | |||||||||||||||||||||||||||||||||||||
| Interest income | ||||||||||||||||||||||||||||||||||||||
| Interest expense | ( | |||||||||||||||||||||||||||||||||||||
| Total revenues net of interest expense | ( | |||||||||||||||||||||||||||||||||||||
| Pretax income (loss) | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
| As of or for the Three Months Ended June 30, 2022 (Millions, except where indicated) | USCS | CS | ICS | GMNS | Corporate & Other (a) | Consolidated | ||||||||||||||||||||||||||||||||
| Total non-interest revenues | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
Revenue from contracts with customers (b) | ||||||||||||||||||||||||||||||||||||||
| Interest income | ||||||||||||||||||||||||||||||||||||||
| Interest expense | ( | |||||||||||||||||||||||||||||||||||||
| Total revenues net of interest expense | ||||||||||||||||||||||||||||||||||||||
| Pretax income (loss) | $ | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||
Total assets (billions) | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
| For the Six Months Ended June 30, 2022 (Millions) | USCS | CS | ICS | GMNS | Corporate & Other (a) | Consolidated | ||||||||||||||||||||||||||||||||
| Total non-interest revenues | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
Revenue from contracts with customers (b) | ||||||||||||||||||||||||||||||||||||||
| Interest income | ||||||||||||||||||||||||||||||||||||||
| Interest expense | ( | |||||||||||||||||||||||||||||||||||||
| Total revenues net of interest expense | ( | |||||||||||||||||||||||||||||||||||||
| 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, 2023 | ||||||||||||||||||||||||||
Repurchase programs(a) | — | — | — | 119,604,673 | ||||||||||||||||||||||
Employee transactions(b) | 20,620 | $161.34 | N/A | N/A | ||||||||||||||||||||||
| May 1-31, 2023 | ||||||||||||||||||||||||||
Repurchase programs(a) | 3,504,623 | $152.51 | 3,504,623 | 116,100,050 | ||||||||||||||||||||||
Employee transactions(b) | — | — | N/A | N/A | ||||||||||||||||||||||
| June 1-30, 2023 | ||||||||||||||||||||||||||
Repurchase programs(a) | 3,356,700 | $170.12 | 3,356,700 | 112,743,350 | ||||||||||||||||||||||
Employee transactions(b) | — | — | N/A | N/A | ||||||||||||||||||||||
| Total | ||||||||||||||||||||||||||
Repurchase programs(a) | 6,861,323 | $161.13 | 6,861,323 | 112,743,350 | ||||||||||||||||||||||
Employee transactions(b) | 20,620 | $161.34 | N/A | N/A | ||||||||||||||||||||||
| Exhibit | Description | ||||
| 31.1 | |||||
| 31.2 | |||||
| 32.1 | |||||
| 32.2 | |||||
| 101.INS | XBRL Instance Document - The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document. | ||||
| 101.SCH | XBRL Taxonomy Extension Schema Document | ||||
| 101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document | ||||
| 101.LAB | XBRL Taxonomy Extension Label Linkbase Document | ||||
| 101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document | ||||
| 101.DEF | XBRL Taxonomy Extension Definition Linkbase Document | ||||
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) | ||||
| AMERICAN EXPRESS COMPANY | ||||||||
| (Registrant) | ||||||||
| Date: July 24, 2023 | By | /s/ Jeffrey C. Campbell | ||||||
| Jeffrey C. Campbell Vice Chairman and Chief Financial Officer | ||||||||
| Date: July 24, 2023 | By | /s/ Jessica Lieberman Quinn | ||||||
| Jessica Lieberman Quinn Executive Vice President and Corporate Controller (Principal Accounting Officer) | ||||||||
| Date: July 24, 2023 | |||||
/s/ Stephen J. Squeri | |||||
| Stephen J. Squeri Chief Executive Officer | |||||
| Date: July 24, 2023 | |||||
/s/ Jeffrey C. Campbell | |||||
| Jeffrey C. Campbell Chief Financial Officer | |||||
/s/ Stephen J. Squeri | ||
| Name: Stephen J. Squeri Title: Chief Executive Officer | ||
| Date: July 24, 2023 | ||
/s/ Jeffrey C. Campbell | ||
| Name: Jeffrey C. Campbell Title: Chief Financial Officer | ||
| Date: July 24, 2023 | ||
Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|||||||||
| Non-interest revenues | ||||||||||||
| Non-interest revenues | $ 11,949 | $ 11,035 | $ 23,247 | $ 20,571 | ||||||||
| Interest income | ||||||||||||
| Interest on loans | 4,213 | 2,707 | 8,152 | 5,180 | ||||||||
| Interest and dividends on investment securities | 34 | 22 | 64 | 35 | ||||||||
| Deposits with banks and other | 528 | 70 | 975 | 104 | ||||||||
| Total interest income | 4,775 | 2,799 | 9,191 | 5,319 | ||||||||
| Interest expense | ||||||||||||
| Deposits | 1,196 | 187 | 2,190 | 309 | ||||||||
| Long-term debt and other | 474 | 252 | 913 | 451 | ||||||||
| Total interest expense | 1,670 | 439 | 3,103 | 760 | ||||||||
| Net interest income | 3,105 | 2,360 | 6,088 | 4,559 | ||||||||
| Total revenues net of interest expense | 15,054 | 13,395 | 29,335 | 25,130 | ||||||||
| Provisions for credit losses | ||||||||||||
| Total provisions for credit losses | 1,198 | 410 | 2,253 | 377 | ||||||||
| Total revenues net of interest expense after provisions for credit losses | 13,856 | 12,985 | 27,082 | 24,753 | ||||||||
| Expenses | ||||||||||||
| Card Member rewards | 3,956 | 3,591 | 7,722 | 6,702 | ||||||||
| Business development | 1,388 | 1,404 | 2,781 | 2,447 | ||||||||
| Card Member services | 949 | 678 | 1,932 | 1,304 | ||||||||
| Marketing | 1,408 | 1,502 | 2,749 | 2,726 | ||||||||
| Salaries and employee benefits | 1,875 | 1,816 | 3,889 | 3,470 | ||||||||
| Other, net | 1,546 | 1,451 | 3,108 | 2,849 | ||||||||
| Total expenses | 11,122 | 10,442 | 22,181 | 19,498 | ||||||||
| Pretax income | 2,734 | 2,543 | 4,901 | 5,255 | ||||||||
| Income tax provision | 560 | 579 | 911 | 1,192 | ||||||||
| Net income | $ 2,174 | $ 1,964 | $ 3,990 | $ 4,063 | ||||||||
| Earnings per Common Share | ||||||||||||
| Basic (in dollars per share) | $ 2.89 | [1] | $ 2.57 | [1] | $ 5.30 | [2] | $ 5.30 | [2] | ||||
| Diluted (in dollars per share) | $ 2.89 | [1] | $ 2.57 | [1] | $ 5.29 | [2] | $ 5.30 | [2] | ||||
| Average common shares outstanding for earnings per common share: | ||||||||||||
| Basic (in shares) | 740 | 752 | 741 | 755 | ||||||||
| Diluted (in shares) | 741 | 753 | 742 | 756 | ||||||||
| Card Member Receivables | ||||||||||||
| Provisions for credit losses | ||||||||||||
| Total provisions for credit losses | $ 230 | $ 138 | $ 452 | $ 218 | ||||||||
| Card Member Loans | ||||||||||||
| Provisions for credit losses | ||||||||||||
| Total provisions for credit losses | 923 | 272 | 1,709 | 161 | ||||||||
| Other | ||||||||||||
| Provisions for credit losses | ||||||||||||
| Total provisions for credit losses | 45 | 0 | 92 | (2) | ||||||||
| Discount revenue | ||||||||||||
| Non-interest revenues | ||||||||||||
| Non-interest revenues | 8,481 | 7,873 | 16,428 | 14,708 | ||||||||
| Net card fees | ||||||||||||
| Non-interest revenues | ||||||||||||
| Non-interest revenues | 1,789 | 1,481 | 3,502 | 2,904 | ||||||||
| Service fees and other revenue | ||||||||||||
| Non-interest revenues | ||||||||||||
| Non-interest revenues | 1,232 | 1,265 | 2,450 | 2,171 | ||||||||
| Processed revenue | ||||||||||||
| Non-interest revenues | ||||||||||||
| Non-interest revenues | $ 447 | $ 416 | $ 867 | $ 788 | ||||||||
| ||||||||||||
Consolidated Statements of Income (Unaudited) (Parenthetical) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
| Income Statement [Abstract] | ||||
| Earnings allocated to participating share awards | $ 17 | $ 15 | $ 31 | $ 31 |
| 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, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
| Statement of Comprehensive Income [Abstract] | ||||
| Net income | $ 2,174 | $ 1,964 | $ 3,990 | $ 4,063 |
| Other comprehensive income (loss): | ||||
| Net unrealized debt securities gains (losses), net of tax | 1 | (25) | 20 | (53) |
| Foreign currency translation adjustments, net of hedges and tax | 25 | (157) | 53 | (177) |
| Net unrealized pension and other postretirement benefits, net of tax | (4) | 12 | 53 | 32 |
| Other comprehensive income (loss) | 22 | (170) | 126 | (198) |
| Comprehensive income | $ 2,196 | $ 1,794 | $ 4,116 | $ 3,865 |
Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) |
3 Months Ended | 6 Months Ended | |||
|---|---|---|---|---|---|
Mar. 31, 2023 |
Jun. 30, 2023 |
Jun. 30, 2022 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Statement of Cash Flows [Abstract] | |||||
| Sales of premises and equipment | $ 1,000,000 | $ 0 | |||
| Cash and cash equivalents reconciliation | |||||
| Total cash and cash equivalents | 42,958,000,000 | 26,277,000,000 | $ 33,914,000,000 | $ 22,028,000,000 | |
| Restricted balances included in Cash and cash equivalents | 1,231,000,000 | 1,086,000,000 | 544,000,000 | 525,000,000 | |
| Total Cash and cash equivalents, excluding restricted balances | $ 41,727,000,000 | $ 25,191,000,000 | $ 33,370,000,000 | $ 21,503,000,000 | |
| Increase in Card Member loans and receivables, and other loans, non-cash | $ 117,000,000 | ||||
| Increase in short-term borrowings, non-cash | $ 117,000,000 | ||||
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, 2021 | $ 22,177 | $ 0 | $ 153 | $ 11,495 | $ (2,945) | $ 13,474 | ||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
| Net income | 4,063 | 4,063 | ||||||
| Other comprehensive income (loss) | (198) | (198) | 0 | |||||
| Repurchase of common shares | (2,094) | (2) | (179) | (1,913) | ||||
| Other changes, primarily employee plans | 103 | 160 | (57) | |||||
| Cash dividends declared preferred | $ (29) | $ (29) | ||||||
| Cash dividends declared common | (787) | (787) | ||||||
| Ending Balance at Jun. 30, 2022 | 23,235 | 0 | 151 | 11,476 | (3,143) | 14,751 | ||
| Beginning Balance at Mar. 31, 2022 | 22,383 | 0 | 151 | 11,451 | (2,973) | 13,754 | ||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
| Net income | 1,964 | 1,964 | ||||||
| Other comprehensive income (loss) | (170) | (170) | 0 | |||||
| Repurchase of common shares | (611) | (53) | (558) | |||||
| Other changes, primarily employee plans | 77 | 78 | (1) | |||||
| Cash dividends declared preferred | (15) | (15) | ||||||
| Cash dividends declared common | (393) | (393) | ||||||
| Ending Balance at Jun. 30, 2022 | 23,235 | 0 | 151 | 11,476 | (3,143) | 14,751 | ||
| Beginning Balance at Dec. 31, 2022 | 24,711 | 0 | 149 | 11,493 | (3,210) | 16,279 | ||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
| Net income | 3,990 | 3,990 | ||||||
| Other comprehensive income (loss) | 126 | 126 | 0 | |||||
| Repurchase of common shares | (1,312) | (1) | (123) | (1,188) | ||||
| Other changes, primarily employee plans | 112 | 139 | (27) | |||||
| Cash dividends declared preferred | (29) | (29) | ||||||
| Cash dividends declared common | (895) | (895) | ||||||
| Ending Balance at Jun. 30, 2023 | 26,703 | 0 | 148 | 11,509 | (3,084) | 18,130 | ||
| Beginning Balance at Mar. 31, 2023 | 25,992 | 0 | 149 | 11,522 | (3,106) | 17,427 | ||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
| Net income | 2,174 | 2,174 | ||||||
| Other comprehensive income (loss) | 22 | 22 | 0 | |||||
| Repurchase of common shares | (1,117) | (1) | (106) | (1,010) | ||||
| Other changes, primarily employee plans | 92 | 93 | (1) | |||||
| Cash dividends declared preferred | $ (15) | $ (15) | ||||||
| Cash dividends declared common | (445) | (445) | ||||||
| Ending Balance at Jun. 30, 2023 | $ 26,703 | $ 0 | $ 148 | $ 11,509 | $ (3,084) | $ 18,130 |
Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
| Cash dividends declared | ||||
| Common stock, dividend per share (in dollars per share) | $ 0.60 | $ 0.52 | $ 1.20 | $ 1.04 |
| Series D Preferred Stock | ||||
| Cash dividends declared | ||||
| Preferred stock, dividend per share (in dollars per share) | $ 9,072.22 | $ 9,072.22 | $ 17,947.22 | $ 17,947.22 |
Basis of Presentation |
6 Months Ended |
|---|---|
Jun. 30, 2023 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Basis of Presentation | Basis of Presentation The Company We are a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Our principal products and services are credit and charge card products, along with travel and lifestyle related services, offered to consumers and businesses around the world. Our various products and services are offered globally to diverse customer groups, including consumers, small businesses, mid-sized companies and large corporations. These products and services are offered through various channels, including mobile and online applications, affiliate marketing, customer referral programs, third-party service providers and business partners, direct mail, telephone, in-house sales teams 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, 2022 (the 2022 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. Recently Adopted and Issued Accounting Standards Effective January 1, 2023, we adopted new accounting guidance on troubled debt restructurings (TDR) and vintage disclosures (Update 2022-02) on a prospective basis. The new guidance eliminated the existing TDR guidance for those entities that have adopted Update 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, created a single loan modification accounting model and enhanced disclosure requirements for loan modifications and write-offs. The implementation did not have a material impact on our Consolidated Financial Statements, and we do not expect it to have a material impact to our Consolidated Financial Statements prospectively. Refer to Note 2 for further information, including the enhanced disclosures. In March 2023, the Financial Accounting Standards Board issued updated accounting guidance to allow the proportional amortization method (PAM) to be applied to tax credit structures beyond low-income housing tax credit (LIHTC) investments. Having implemented PAM in relation to LIHTC investments in January 2021, we plan to early adopt the updated guidance with respect to other qualifying investments in the second half of 2023. We do not expect the updated guidance to have a material 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 non-card financing products, resulting in Other loans. Card Member and Other loans as of June 30, 2023 and December 31, 2022 consisted of:
(a)Includes approximately $27.4 billion and $28.5 billion of gross Card Member loans available to settle obligations of a consolidated variable interest entity (VIE) as of June 30, 2023 and December 31, 2022, respectively. (b)Other loans are presented net of reserves for credit losses of $98 million and $59 million as of June 30, 2023 and December 31, 2022, respectively. Card Member receivables as of June 30, 2023 and December 31, 2022 consisted of:
(a)Includes $5.0 billion and $5.2 billion of gross Card Member receivables available to settle obligations of a consolidated VIE as of June 30, 2023 and December 31, 2022, 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 table presents the aging of Card Member loans and receivables as of June 30, 2023 and December 31, 2022:
(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 is not available due to system constraints. Therefore, such data has not been utilized for risk management purposes. The balances that are current to 89 days past due 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. Credit Quality Indicators for Card Member Loans and Receivables The following tables present the key credit quality indicators as of or for the six months ended June 30:
(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 0.5% and 0.4% as of June 30, 2023 and 2022, respectively. 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 Effective January 1, 2023, we prospectively adopted Accounting Standards Update 2022-02 guidance that eliminated the recognition and measurement of TDRs. Following the adoption of this guidance, 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, 2023, we had $29 million of unused credit available to customers with loans modified during the six months ended June 30, 2023. 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 table provides information relating to loans and receivables modifications for borrowers experiencing financial difficulty during the three and six months ended June 30, 2023:
(a)Represents the outstanding balances as of June 30, 2023 of all modifications undertaken in the past three and six months, respectively, for loans and receivables that remain in modification programs as of, or that defaulted on or before, June 30, 2023. 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, there have been no payment term extensions. (c)We do not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing. A customer can miss up to three payments before being considered in default, depending on the terms of the modification program. For loans and receivables modified on or after January 1, 2023, the amount of defaulted balances was immaterial for the three months and six months ended June 30, 2023. The following table provides information relating to the performance of loans and receivables that were modified on or after January 1, 2023.
(a)Represents the outstanding balances as of June 30, 2023 of all modifications undertaken on or after January 1, 2023 for loans and receivables that remain in modification programs as of, or that defaulted on or before, June 30, 2023. Troubled Debt Restructuring Disclosures Prior to Our Adoption of ASU 2022-02 Prior to our adoption of ASU 2022-02, we accounted for a modification to the contractual terms of a loan that resulted in granting a concession to a borrower experiencing financial difficulties as a TDR. Loans that were classified as a TDR prior to the adoption of ASU 2022-02 will continue to be accounted for under the historical TDR accounting until the loan is entirely paid off or written off. The following table provides additional information with respect to our impaired loans and receivables as of December 31, 2022:
(a)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. Amounts presented exclude loans classified as a TDR. (b)Non-accrual loans not in modification programs primarily include certain loans placed with outside collection agencies for which we have ceased accruing interest. Amounts presented exclude loans classified as TDRs. (c)Accounts classified as a TDR include $48 million that were over 90 days past due and accruing interest as of December 31, 2022 and $17 million that were non-accruals as of December 31, 2022. (d)In Program TDRs include accounts that are currently enrolled in a modification program. (e)Out of Program TDRs include $1,922 million of accounts that have successfully completed a modification program and $146 million of accounts that were not in compliance with the terms of the modification programs as of December 31, 2022. Loans and Receivables Modified as TDRs Prior to Our Adoption of ASU 2022-02 The following table provides additional information with respect to loans and receivables that were modified as TDRs during the three and six months ended June 30, 2022:
(a)Represents the outstanding balance immediately prior to modification. The outstanding balance includes 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, there have been no payment term extensions. (c)We do not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing. Loans and Receivables Modified and Subsequently Defaulted Prior to Our Adoption of ASU 2022-02 The following table provides information with respect to loans and receivables modified as TDRs that subsequently defaulted within twelve months of modification. A customer can miss up to three payments before being considered in default, depending on the terms of the modification program.
(a)The outstanding balances upon default include principal, fees and accrued interest on loans, and principal and fees on receivables.
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| Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reserve 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 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. Separate models are used for accounts deemed a troubled debt restructuring, which are measured individually and incorporate a discounted cash flow model. 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 pay in full or revolving loans and 120 days past due for term loans. Loans and receivables in bankruptcy or owed by deceased individuals are generally written off upon notification. The following table reflects the range of macroeconomic scenario key variables used, in conjunction with other inputs, to calculate reserves for credit losses:
(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 the three months ended June 30, 2023, primarily driven by an increase in loans outstanding. Card Member loans reserve for credit losses increased for the six months ended June 30, 2023, primarily driven by an increase in loans outstanding and higher delinquencies. Card Member loans reserve for credit losses increased for the three months ended June 30, 2022, primarily driven by an increase in loans outstanding and a slight deterioration in the macroeconomic outlook at that time, partially offset by improved portfolio quality. Card Member loans reserve for credit losses decreased for the six months ended June 30, 2022, primarily driven by improved portfolio quality and a reduction in COVID-19 pandemic-driven reserves, partially offset by an increase in loans outstanding and a slight deterioration in the macroeconomic outlook at that time. The following table presents changes in the Card Member loans reserve for credit losses for the three and six months ended June 30:
(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 $130 million and $138 million for the three months ended June 30, 2023 and 2022, respectively, and $258 million and $283 million for the six months ended June 30, 2023 and 2022, respectively. Recoveries of interest and fees were not significant. (c)Primarily includes foreign currency translation adjustments of $12 million and $(8) million for the three months ended June 30, 2023 and 2022, respectively, and $18 million and $(6) million for the six months ended June 30, 2023 and 2022, respectively. Changes in Card Member Receivables Reserve for Credit Losses Card Member receivables reserve for credit losses decreased for both the three and six months ended June 30, 2023, primarily driven by lower delinquencies, partially offset by increases in receivables outstanding. Card Member receivables reserve for credit losses increased for the three months ended June 30, 2022, primarily driven by an increase in receivables outstanding and a slight deterioration in the macroeconomic outlook at that time, partially offset by improved portfolio quality. Card Member receivables reserve for credit losses increased for the six months ended June 30, 2022, primarily driven by an increase in receivables outstanding and higher delinquencies. The following table presents changes in the Card Member receivables reserve for credit losses for the three and six months ended June 30:
(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 $76 million and $67 million for the three months ended June 30, 2023 and 2022, respectively, and $145 million and $134 million for the six months ended June 30, 2023 and 2022, respectively. (c)Primarily includes foreign currency translation adjustments.
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Investment Securities |
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment Securities | Investment Securities Investment securities principally include available-for-sale 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 available-for-sale debt securities totaling $5 million and $12 million as of June 30, 2023 and December 31, 2022, 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, 2023 and December 31, 2022:
(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, exchange-traded funds and mutual funds. The following table provides information about our available-for-sale 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, 2023 and December 31, 2022:
The gross unrealized losses on our available-for-sale debt securities are primarily attributable to an increase in the current benchmark interest rate. Overall, for the available-for-sale 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 available-for-sale debt securities by ratio of fair value to amortized cost as of June 30, 2023 and December 31, 2022:
Contractual maturities for available-for-sale debt securities with stated maturities as of June 30, 2023 were as follows:
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, 2023 | |
| 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 for the Lending Trust was $14.8 billion and $16.0 billion as of June 30, 2023 and December 31, 2022, respectively, and for the Charge Trust was $3.1 billion and $5.2 billion as of June 30, 2023 and December 31, 2022, 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 $668 million and $59 million as of June 30, 2023 and December 31, 2022, respectively, and for the Charge Trust was nil as of both June 30, 2023 and December 31, 2022. 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, 2023 and the year ended December 31, 2022, 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, 2023 and December 31, 2022, customer deposits were categorized as interest-bearing or non-interest-bearing as follows:
Customer deposits by deposit type as of June 30, 2023 and December 31, 2022 were as follows:
The scheduled maturities of certificates of deposit as of June 30, 2023 were as follows:
As of June 30, 2023 and December 31, 2022, certificates of deposit in denominations of $250,000 or more, in the aggregate, were as follows:
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Contingencies |
6 Months Ended |
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Jun. 30, 2023 | |
| 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, 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 February 25, 2020, we were named as a defendant in a case filed in the Superior Court of California, Los Angeles County, captioned Laurelwood Cleaners LLC v. American Express Co., et al., in which the plaintiff seeks a public injunction in California prohibiting American Express from enforcing its anti-steering and non-discrimination provisions and from requiring merchants “to offer the service of Amex-card acceptance for free.” The case has been stayed pending the outcome of arbitration proceedings. 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 cards (but not American Express cards) and allege they paid higher prices as a result of our anti-steering and non-discrimination provisions 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. The remaining claims in plaintiffs’ complaint arise under the antitrust laws of 11 states and the consumer protection laws of six states. 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. An amended complaint was filed on July 15, 2016. On September 30, 2016, the court denied our motion to dismiss as to claims brought by merchants who do not accept American Express cards, and 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. In July 2004, we were named as a defendant in a putative class action filed in the Southern District of New York and subsequently transferred to the Eastern District of New York, captioned The Marcus Corporation v. American Express Co., et al., in which the plaintiffs allege an unlawful antitrust tying arrangement between certain of our charge cards and credit cards in violation of various state and federal laws. The plaintiffs in this action seek injunctive relief and an unspecified amount of damages. 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 May 2020, we began responding to a review by the Office of the Comptroller of the Currency (OCC) and the Department of Justice (DOJ) Civil Division regarding historical sales practices relating to sales to small business customers in the United States. In January 2021, we received a grand jury subpoena from the United States Attorney’s Office for the Eastern District of New York (EDNY) regarding these sales practices issues, as well as a Civil Investigative Demand from the Consumer Financial Protection Bureau (CFPB) pertaining to its investigation into sales practices related to consumers. We have also been made aware of a related investigation by the New York Department of Financial Services (NYDFS). In January 2023, the CFPB notified us that its investigation was completed and that it does not intend to recommend an enforcement action be taken against us at this time. In July 2023, we reached a settlement with the OCC to resolve its review of historical sales practices to certain U.S. small business card customers that occurred between 2015 and 2017, with a civil money penalty of $15 million. The DOJ, EDNY and NYDFS investigations are ongoing, and we are cooperating with all inquiries. Any additional negotiated resolution or litigated proceedings arising from these matters could result in fines or other remedial actions. 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 $310 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, 2023 and December 31, 2022 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, 2023, 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, 2023 and December 31, 2022, 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, 2023 and December 31, 2022:
(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 $7 million and $8 million as of June 30, 2023 and December 31, 2022, 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 $4.6 billion and $8.1 billion of fixed-rate debt obligations designated in fair value hedging relationships as of June 30, 2023 and December 31, 2022, 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:
The carrying values of the hedged liabilities, recorded within Long-term debt on the Consolidated Balance Sheets, were $4.4 billion and $7.8 billion as of June 30, 2023 and December 31, 2022, respectively, including the cumulative amount of fair value hedging adjustments of $(198) million and $(236) million for the respective periods. We recognized in Interest expense on Long-term debt a net increase of $44 million and a net decrease of $34 million for the three months ended June 30, 2023 and 2022, respectively, and a net increase of $83 million and a net decrease of $91 million for the six months ended June 30, 2023 and 2022, respectively, primarily related to the net settlements including interest accruals on our interest rate derivatives designated as fair value hedges. Net Investment Hedges We primarily designate foreign currency derivatives as net investment hedges to reduce our exposure to changes in currency exchange rates on our investments in non-U.S. subsidiaries. We had notional amounts of approximately $12.7 billion and $12.5 billion of foreign currency derivatives designated as net investment hedges as of June 30, 2023 and December 31, 2022, respectively. The gain or loss on net investment hedges, net of taxes, recorded in Accumulated other comprehensive income (loss) (AOCI) as part of the cumulative translation adjustment, were a loss of $307 million and a gain of $293 million for the three months ended June 30, 2023 and 2022, respectively, and a loss of $505 million and a gain of $208 million for the six months ended June 30, 2023 and 2022, respectively. Net investment hedge reclassifications out of AOCI into the Consolidated Statements of Income were not significant for any of the three and six months ended June 30, 2023 and 2022. Derivatives Not Designated as Hedges The changes in the fair value of derivatives that are not designated as hedges are intended to offset the related foreign exchange gains or losses of the underlying foreign currency exposures. We had notional amounts of approximately $23.2 billion and $21.7 billion as of June 30, 2023 and December 31, 2022, respectively. The changes in the fair value of the derivatives and the related underlying foreign currency exposures resulted in a net gain of $25 million and a net loss of $1 million for the three months ended June 30, 2023 and 2022, respectively, and a net gain of $30 million and a net loss of $13 million for the six months ended June 30, 2023 and 2022, 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, 2023 and December 31, 2022. The changes in the fair value of the embedded derivative resulted in a gain of $4 million and a loss of $4 million for the three months ended June 30, 2023 and 2022, respectively, and losses of nil and $4 million for the six months ended June 30, 2023 and 2022, respectively, which were recognized in Service fees and other revenue in the Consolidated Statements of Income.
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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, 2023 and December 31, 2022:
(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 table summarizes 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, 2023 and December 31, 2022. The fair values of these financial instruments are estimates based upon the market conditions and perceived risks as of June 30, 2023 and December 31, 2022, 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.
(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 $5.0 billion and $5.2 billion held by a consolidated VIE as of June 30, 2023 and December 31, 2022, 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 $27.4 billion and $28.4 billion as of June 30, 2023 and December 31, 2022, respectively, and the fair values of Long-term debt were $14.4 billion and $12.3 billion as of June 30, 2023 and December 31, 2022, 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. For these assets, measurement at fair value in periods subsequent to their initial recognition is applicable if they are determined to be impaired or where there are observable price changes for equity investments without readily determinable fair values. We estimate the Level 3 fair value of equity investments without readily determinable fair values, which include investments in our Amex Ventures portfolio, based on price changes as of the date of new similar equity financing transactions completed by the companies in the portfolio. 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 impaired investments represents a Level 3 fair value measurement. The carrying value of equity investments without readily determinable fair values totaled $0.9 billion and $1.0 billion as of June 30, 2023 and December 31, 2022, respectively, of which approximately nil and $0.6 billion as of June 30, 2023 and December 31, 2022, respectively, represented a nonrecurring Level 3 fair value measurement for certain of our equity investments. These amounts are included within Other assets on the Consolidated Balance Sheets. We recorded unrealized gains of nil and $76 million for the three months ended June 30, 2023 and 2022, respectively, and nil and $88 million for the six months ended June 30, 2023 and 2022, respectively. Unrealized losses representing impairments were $10 million and $84 million for the three months ended June 30, 2023 and 2022, respectively, and $105 million and $102 million for the six months ended June 30, 2023 and 2022, 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 for equity investments without readily determinable fair values totaled $1.2 billion as of both June 30, 2023 and December 31, 2022, and cumulative unrealized losses representing impairments were $504 million and $394 million as of June 30, 2023 and December 31, 2022, 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, 2023 and December 31, 2022.
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Guarantees |
6 Months Ended |
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Jun. 30, 2023 | |
| 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 $24 million, respectively, as of June 30, 2023, and $1 billion and $21 million, respectively, as of December 31, 2022, 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, 2023 and 2022 were as follows:
(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:
Reclassifications out of AOCI into the Consolidated Statements of Income, net of taxes, for the three and six months ended June 30, 2023 and 2022 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 | 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:
The following is a detail of Other expenses for the three and six months ended June 30:
(a)Refer to Note 9 for further information regarding Amex Ventures investments accounted for as equity investments without readily determinable fair values.
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Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2023 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The effective tax rate was 20.5 percent and 22.8 percent for the three months ended June 30, 2023 and 2022, respectively, and 18.6 percent and 22.7 percent for the six months ended June 30, 2023 and 2022, respectively. The lower effective tax rate for the three-month period primarily reflected discrete tax benefits related to a legal entity restructuring in the current period. The lower effective tax rate for the six-month period primarily reflected discrete tax benefits related to the resolution of certain prior-year tax items and a legal entity restructuring in the current period. 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. We believe it is reasonably possible that our unrecognized tax benefits could decrease within the next twelve months by as much as $123 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 $123 million of unrecognized tax benefits, approximately $97 million relates to amounts that, if recognized, would impact the effective tax rate in a future period.
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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:
(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 1.4 million and 0.25 million of options for the three months ended June 30, 2023 and 2022, respectively, and 1.4 million and 0.21 million of options for the six months ended June 30, 2023 and 2022, respectively, 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 As disclosed in the 2022 Form 10-K, we realigned our reportable operating segments to reflect organizational changes effective for the third quarter of 2022. Prior periods have been recast to conform to the new reportable operating segments. The following table presents certain selected financial information for our reportable operating segments and Corporate & Other:
(a)Corporate & Other includes adjustments and eliminations for intersegment activity. (b)Includes discount revenue, certain service fees and other revenue and processed revenues from customers.
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Pay vs Performance Disclosure - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
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| Pay vs Performance Disclosure | ||||
| Net Income (Loss) | $ 2,174 | $ 1,964 | $ 3,990 | $ 4,063 |
Insider Trading Arrangements |
3 Months Ended |
|---|---|
Jun. 30, 2023 | |
| 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, 2023 | |
| 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. |
| Recently Adopted and Issued Accounting Standards | Recently Adopted and Issued Accounting Standards Effective January 1, 2023, we adopted new accounting guidance on troubled debt restructurings (TDR) and vintage disclosures (Update 2022-02) on a prospective basis. The new guidance eliminated the existing TDR guidance for those entities that have adopted Update 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, created a single loan modification accounting model and enhanced disclosure requirements for loan modifications and write-offs. The implementation did not have a material impact on our Consolidated Financial Statements, and we do not expect it to have a material impact to our Consolidated Financial Statements prospectively. Refer to Note 2 for further information, including the enhanced disclosures. In March 2023, the Financial Accounting Standards Board issued updated accounting guidance to allow the proportional amortization method (PAM) to be applied to tax credit structures beyond low-income housing tax credit (LIHTC) investments. Having implemented PAM in relation to LIHTC investments in January 2021, we plan to early adopt the updated guidance with respect to other qualifying investments in the second half of 2023. We do not expect the updated guidance to have a material 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 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. Separate models are used for accounts deemed a troubled debt restructuring, which are measured individually and incorporate a discounted cash flow model. 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 pay in full or revolving loans and 120 days past due for term loans. Loans and receivables in bankruptcy or owed by deceased individuals are generally written off upon notification.
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| Investments | Investment securities principally include available-for-sale 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. |
| 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. |
| 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 $310 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, 2023 and December 31, 2022 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.The changes in the fair value of derivatives that are not designated as hedges are intended to offset the related foreign exchange gains or losses of the underlying foreign currency exposures. |
| Fair Values | We have certain assets that are subject to measurement at fair value on a nonrecurring basis. For these assets, measurement at fair value in periods subsequent to their initial recognition is applicable if they are determined to be impaired or where there are observable price changes for equity investments without readily determinable fair values. We estimate the Level 3 fair value of equity investments without readily determinable fair values, which include investments in our Amex Ventures portfolio, based on price changes as of the date of new similar equity financing transactions completed by the companies in the portfolio. 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 impaired investments represents a Level 3 fair value measurement. The carrying value of equity investments without readily determinable fair values totaled $0.9 billion and $1.0 billion as of June 30, 2023 and December 31, 2022, respectively, of which approximately nil and $0.6 billion as of June 30, 2023 and December 31, 2022, respectively, represented a nonrecurring Level 3 fair value measurement for certain of our equity investments. These amounts are included within Other assets on the Consolidated Balance Sheets. We recorded unrealized gains of nil and $76 million for the three months ended June 30, 2023 and 2022, respectively, and nil and $88 million for the six months ended June 30, 2023 and 2022, respectively. Unrealized losses representing impairments were $10 million and $84 million for the three months ended June 30, 2023 and 2022, respectively, and $105 million and $102 million for the six months ended June 30, 2023 and 2022, 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 for equity investments without readily determinable fair values totaled $1.2 billion as of both June 30, 2023 and December 31, 2022, and cumulative unrealized losses representing impairments were $504 million and $394 million as of June 30, 2023 and December 31, 2022, 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, 2023 and December 31, 2022.
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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, 2023 and December 31, 2022 consisted of:
(a)Includes approximately $27.4 billion and $28.5 billion of gross Card Member loans available to settle obligations of a consolidated variable interest entity (VIE) as of June 30, 2023 and December 31, 2022, respectively. (b)Other loans are presented net of reserves for credit losses of $98 million and $59 million as of June 30, 2023 and December 31, 2022, respectively. Card Member receivables as of June 30, 2023 and December 31, 2022 consisted of:
(a)Includes $5.0 billion and $5.2 billion of gross Card Member receivables available to settle obligations of a consolidated VIE as of June 30, 2023 and December 31, 2022, respectively.
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| Aging of receivables | The following table presents the aging of Card Member loans and receivables as of June 30, 2023 and December 31, 2022:
(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 is not available due to system constraints. Therefore, such data has not been utilized for risk management purposes. The balances that are current to 89 days past due 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.
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| Credit quality indicators for loans and receivables | The following tables present the key credit quality indicators as of or for the six months ended June 30:
(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 0.5% and 0.4% as of June 30, 2023 and 2022, respectively.
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| Modifications of Loans and Receivables | The following table provides information relating to loans and receivables modifications for borrowers experiencing financial difficulty during the three and six months ended June 30, 2023:
(a)Represents the outstanding balances as of June 30, 2023 of all modifications undertaken in the past three and six months, respectively, for loans and receivables that remain in modification programs as of, or that defaulted on or before, June 30, 2023. 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, there have been no 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 table provides information relating to the performance of loans and receivables that were modified on or after January 1, 2023.
(a)Represents the outstanding balances as of June 30, 2023 of all modifications undertaken on or after January 1, 2023 for loans and receivables that remain in modification programs as of, or that defaulted on or before, June 30, 2023. The following table provides additional information with respect to loans and receivables that were modified as TDRs during the three and six months ended June 30, 2022:
(a)Represents the outstanding balance immediately prior to modification. The outstanding balance includes 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, there have been no 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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| Impaired Card Member loans and receivables | The following table provides additional information with respect to our impaired loans and receivables as of December 31, 2022:
(a)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. Amounts presented exclude loans classified as a TDR. (b)Non-accrual loans not in modification programs primarily include certain loans placed with outside collection agencies for which we have ceased accruing interest. Amounts presented exclude loans classified as TDRs. (c)Accounts classified as a TDR include $48 million that were over 90 days past due and accruing interest as of December 31, 2022 and $17 million that were non-accruals as of December 31, 2022. (d)In Program TDRs include accounts that are currently enrolled in a modification program. (e)Out of Program TDRs include $1,922 million of accounts that have successfully completed a modification program and $146 million of accounts that were not in compliance with the terms of the modification programs as of December 31, 2022.
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| Troubled Debt Restructurings On Financing Receivables With Subsequent Default | The following table provides information with respect to loans and receivables modified as TDRs that subsequently defaulted within twelve months of modification. A customer can miss up to three payments before being considered in default, depending on the terms of the modification program.
(a)The outstanding balances upon default include principal, fees and accrued interest on loans, and principal and fees on receivables.
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Jun. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 used, in conjunction with other inputs, to calculate reserves for credit losses:
(a)Real GDP quarter over quarter percentage change seasonally adjusted to annualized rates.
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| Card Member Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Changes in Card Member Loans and Receivables | The following table presents changes in the Card Member loans reserve for credit losses for the three and six months ended June 30:
(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 $130 million and $138 million for the three months ended June 30, 2023 and 2022, respectively, and $258 million and $283 million for the six months ended June 30, 2023 and 2022, respectively. Recoveries of interest and fees were not significant. (c)Primarily includes foreign currency translation adjustments of $12 million and $(8) million for the three months ended June 30, 2023 and 2022, respectively, and $18 million and $(6) million for the six months ended June 30, 2023 and 2022, respectively.
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| Card Member Receivables | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Changes in Card Member Loans and Receivables | The following table presents changes in the Card Member receivables reserve for credit losses for the three and six months ended June 30:
(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 $76 million and $67 million for the three months ended June 30, 2023 and 2022, respectively, and $145 million and $134 million for the six months ended June 30, 2023 and 2022, respectively. (c)Primarily includes foreign currency translation adjustments.
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Investment Securities (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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, 2023 and December 31, 2022:
(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, exchange-traded funds and mutual funds.
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| Available-for-sale securities, continuous unrealized loss position, fair value | The following table provides information about our available-for-sale 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, 2023 and December 31, 2022:
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| Available for sale securities ratio of fair value to amortized cost | The following table summarizes the gross unrealized losses for available-for-sale debt securities by ratio of fair value to amortized cost as of June 30, 2023 and December 31, 2022:
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| Contractual maturities of investment securities | Contractual maturities for available-for-sale debt securities with stated maturities as of June 30, 2023 were as follows:
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Customer Deposits (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Customer deposits by component and type | As of June 30, 2023 and December 31, 2022, customer deposits were categorized as interest-bearing or non-interest-bearing as follows:
Customer deposits by deposit type as of June 30, 2023 and December 31, 2022 were as follows:
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| Time deposits by maturity | The scheduled maturities of certificates of deposit as of June 30, 2023 were as follows:
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| Time deposits at or above FDIC insurance limit | As of June 30, 2023 and December 31, 2022, certificates of deposit in denominations of $250,000 or more, in the aggregate, were as follows:
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Derivatives and Hedging Activities (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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, 2023 and December 31, 2022:
(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:
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Fair Values (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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, 2023 and December 31, 2022:
(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 table summarizes 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, 2023 and December 31, 2022. The fair values of these financial instruments are estimates based upon the market conditions and perceived risks as of June 30, 2023 and December 31, 2022, 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.
(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 $5.0 billion and $5.2 billion held by a consolidated VIE as of June 30, 2023 and December 31, 2022, 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 $27.4 billion and $28.4 billion as of June 30, 2023 and December 31, 2022, respectively, and the fair values of Long-term debt were $14.4 billion and $12.3 billion as of June 30, 2023 and December 31, 2022, 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) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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, 2023 and 2022 were as follows:
(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:
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Service Fees and Other Revenue and Other Expenses (Tables) |
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Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Service Fees and Other Revenue and Other Expenses [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Service fees and other revenue and commissions | The following is a detail of Service fees and other revenue for the three and six months ended June 30:
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| Other net expense | The following is a detail of Other expenses for the three and six months ended June 30:
(a)Refer to Note 9 for further information regarding Amex Ventures investments accounted for as equity investments without readily determinable fair values.
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Earnings Per Common Share (EPS) (Tables) |
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Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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:
(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 1.4 million and 0.25 million of options for the three months ended June 30, 2023 and 2022, respectively, and 1.4 million and 0.21 million of options for the six months ended June 30, 2023 and 2022, respectively, 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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Jun. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating segment information | The following table presents certain selected financial information for our reportable operating segments and Corporate & Other:
(a)Corporate & Other includes adjustments and eliminations for intersegment activity. (b)Includes discount revenue, certain service fees and other revenue and processed revenues from customers.
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Loans and Card Member Receivables (Details) - USD ($) $ in Millions |
Jun. 30, 2023 |
Mar. 31, 2023 |
Dec. 31, 2022 |
Jun. 30, 2022 |
Mar. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|---|---|---|---|
| Card Member Loans | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Financing receivables, gross | $ 114,602 | $ 107,964 | ||||
| Less: Reserves for credit losses | 4,390 | $ 4,053 | 3,747 | $ 2,997 | $ 2,981 | $ 3,305 |
| Financing receivables, net | 110,212 | 104,217 | ||||
| Card Member Loans | Consumer | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Financing receivables, gross | 88,905 | 84,964 | ||||
| Card Member Loans | Small Business | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Financing receivables, gross | 25,638 | 22,947 | ||||
| Card Member Loans | Corporate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Financing receivables, gross | 59 | 53 | ||||
| Other Loans | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Less: Reserves for credit losses | 98 | 59 | ||||
| Financing receivables, net | 6,235 | 5,357 | ||||
| Card Member Receivables | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Financing receivables, gross | 58,221 | 57,613 | ||||
| Less: Reserves for credit losses | 210 | $ 223 | 229 | $ 119 | $ 76 | $ 64 |
| Financing receivables, net | 58,011 | 57,384 | ||||
| Card Member Receivables | Consumer | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Financing receivables, gross | 22,476 | 22,885 | ||||
| Card Member Receivables | Small Business | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Financing receivables, gross | 19,543 | 19,629 | ||||
| Card Member Receivables | Corporate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Financing receivables, gross | 16,202 | 15,099 | ||||
| Variable Interest Entity, Primary Beneficiary | Card Member Loans | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Financing receivables, gross | 27,400 | 28,461 | ||||
| Variable Interest Entity, Primary Beneficiary | Card Member Loans | Consumer | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Financing receivables, gross | 27,400 | 28,500 | ||||
| Variable Interest Entity, Primary Beneficiary | Card Member Receivables | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Financing receivables, gross | 5,049 | 5,193 | ||||
| Variable Interest Entity, Primary Beneficiary | Card Member Receivables | Corporate | ||||||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
| Financing receivables, gross | $ 5,000 | $ 5,200 |
Loans and Card Member Receivables - Aging (Details 1) - USD ($) $ in Millions |
Jun. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| 90+ days past due and still accruing interest | $ 309 | |
| Non-accruals | 191 | |
| Card Member Loans | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | $ 114,602 | 107,964 |
| Card Member Loans | Consumer | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 88,905 | 84,964 |
| 90+ days past due and still accruing interest | 333 | 252 |
| Non-accruals | 235 | 155 |
| Card Member Loans | Small Business | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 25,638 | 22,947 |
| 90+ days past due and still accruing interest | 89 | 54 |
| Non-accruals | 66 | 34 |
| Card Member Loans | Corporate | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 59 | 53 |
| 90+ days past due and still accruing interest | 0 | 0 |
| Non-accruals | 0 | 0 |
| Card Member Receivables | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 58,221 | 57,613 |
| Card Member Receivables | Consumer | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 22,476 | 22,885 |
| 90+ days past due and still accruing interest | 0 | 0 |
| Non-accruals | 0 | 0 |
| Card Member Receivables | Small Business | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 19,543 | 19,629 |
| 90+ days past due and still accruing interest | 0 | 0 |
| Non-accruals | 0 | 0 |
| Card Member Receivables | Corporate | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 16,202 | 15,099 |
| 90+ days past due and still accruing interest | 0 | 0 |
| Non-accruals | 0 | 0 |
| Current | Card Member Loans | Consumer | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 87,914 | 84,102 |
| Current | Card Member Loans | Small Business | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 25,323 | 22,731 |
| Current | Card Member Receivables | Consumer | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 22,258 | 22,634 |
| Current | Card Member Receivables | Small Business | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 19,247 | 19,330 |
| 30 to 59 Days Past Due | Card Member Loans | Consumer | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 309 | 281 |
| 30 to 59 Days Past Due | Card Member Loans | Small Business | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 112 | 81 |
| 30 to 59 Days Past Due | Card Member Receivables | Consumer | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 71 | 83 |
| 30 to 59 Days Past Due | Card Member Receivables | Small Business | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 109 | 120 |
| 60 to 89 Days Past Due | Card Member Loans | Consumer | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 216 | 198 |
| 60 to 89 Days Past Due | Card Member Loans | Small Business | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 74 | 49 |
| 60 to 89 Days Past Due | Card Member Receivables | Consumer | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 46 | 56 |
| 60 to 89 Days Past Due | Card Member Receivables | Small Business | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 64 | 69 |
| 90+ Days Past Due | Card Member Loans | Consumer | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 466 | 383 |
| 90+ Days Past Due | Card Member Loans | Small Business | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 129 | 86 |
| 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 | 101 | 112 |
| 90+ Days Past Due | Card Member Receivables | Small Business | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | 123 | 110 |
| 90+ Days Past Due | Card Member Receivables | Corporate | ||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Financing receivables, gross | $ 82 | $ 85 |
Loans and Card Member Receivables - Credit Quality (Details 2) |
6 Months Ended | |
|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
|
| Credit Quality Indicator for Loans and Receivables | ||
| 90+ Days Past Billing as a % of total | 0.50% | 0.40% |
| Card Member Loans | Consumer | ||
| Credit Quality Indicator for Loans and Receivables | ||
| 30+ Days Past Due as a % of Total | 1.10% | 0.70% |
| Card Member Loans | Small Business | ||
| Credit Quality Indicator for Loans and Receivables | ||
| 30+ Days Past Due as a % of Total | 1.20% | 0.60% |
| Card Member Loans | Net Write-Off Rate - Principal Only | Consumer | ||
| Credit Quality Indicator for Loans and Receivables | ||
| Net Write-Off Rate | 1.70% | 0.80% |
| Card Member Loans | Net Write-Off Rate - Principal Only | Small Business | ||
| Credit Quality Indicator for Loans and Receivables | ||
| Net Write-Off Rate | 1.40% | 0.60% |
| Card Member Loans | Net Write-Off Rate Principal Interest, and Fees | Consumer | ||
| Credit Quality Indicator for Loans and Receivables | ||
| Net Write-Off Rate | 2.10% | 1.10% |
| Card Member Loans | Net Write-Off Rate Principal Interest, and Fees | Small Business | ||
| Credit Quality Indicator for Loans and Receivables | ||
| Net Write-Off Rate | 1.60% | 0.70% |
| Card Member Receivables | Consumer | ||
| Credit Quality Indicator for Loans and Receivables | ||
| 30+ Days Past Due as a % of Total | 1.00% | 0.80% |
| Card Member Receivables | Small Business | ||
| Credit Quality Indicator for Loans and Receivables | ||
| 30+ Days Past Due as a % of Total | 1.50% | 0.90% |
| Card Member Receivables | Net Write-Off Rate - Principal Only | Consumer | ||
| Credit Quality Indicator for Loans and Receivables | ||
| Net Write-Off Rate | 1.60% | 0.60% |
| Card Member Receivables | Net Write-Off Rate - Principal Only | Small Business | ||
| Credit Quality Indicator for Loans and Receivables | ||
| Net Write-Off Rate | 2.20% | 0.80% |
| Card Member Receivables | Net Write-Off Rate Principal Interest, and Fees | Consumer | ||
| Credit Quality Indicator for Loans and Receivables | ||
| Net Write-Off Rate | 1.70% | 0.60% |
| Card Member Receivables | Net Write-Off Rate Principal Interest, and Fees | Small Business | ||
| Credit Quality Indicator for Loans and Receivables | ||
| Net Write-Off Rate | 2.40% | 0.90% |
| Card Member Receivables | Net Write-Off Rate Principal Interest, and Fees | Corporate | ||
| Credit Quality Indicator for Loans and Receivables | ||
| Net Write-Off Rate | 0.60% | 0.30% |
Loans and Card Member Receivables - Modifications (Details 3) $ in Millions |
3 Months Ended | 6 Months Ended |
|---|---|---|
|
Jun. 30, 2023
USD ($)
|
Jun. 30, 2023
USD ($)
|
|
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Maximum payment term extension | 60 months | |
| Unused credit available | $ 29 | $ 29 |
| Account Balances | 826 | 1,513 |
| Card Member Loans | Interest Rate Reduction | Consumer | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | $ 348 | $ 642 |
| % of Total Class of Financing Receivables | 0.40% | 0.70% |
| Weighted Average Interest Rate Reduction (% points) | 15.90% | 15.70% |
| Card Member Loans | Interest Rate Reduction | Small Business | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | $ 149 | $ 277 |
| % of Total Class of Financing Receivables | 0.60% | 1.10% |
| Weighted Average Interest Rate Reduction (% points) | 15.50% | 15.40% |
| Card Member Loans | Interest Rate Reduction | Corporate | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | $ 0 | $ 0 |
| % of Total Class of Financing Receivables | 0.00% | 0.00% |
| Weighted Average Interest Rate Reduction (% points) | 0.00% | 0.00% |
| Card Member Receivables | Term Extension | Consumer | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | $ 108 | $ 200 |
| % of Total Class of Financing Receivables | 0.50% | 0.90% |
| Weighted Average Payment Term Extensions (# of months) | 27 months | 25 months |
| Card Member Receivables | Term Extension | Small Business | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | $ 194 | $ 352 |
| % of Total Class of Financing Receivables | 1.00% | 1.80% |
| Weighted Average Payment Term Extensions (# of months) | 28 months | 26 months |
| Card Member Receivables | Term Extension | Corporate | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | $ 10 | $ 15 |
| % of Total Class of Financing Receivables | 0.10% | 0.10% |
| Weighted Average Payment Term Extensions (# of months) | 10 months | 10 months |
| Other Loans | Term Extension | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | $ 9 | $ 14 |
| % of Total Class of Financing Receivables | 0.10% | 0.20% |
| Weighted Average Interest Rate Reduction (% points) | 0.00% | 0.00% |
| Weighted Average Payment Term Extensions (# of months) | 17 months | 17 months |
| Other Loans | Interest Rate Reduction and Term Extension | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | $ 8 | $ 13 |
| % of Total Class of Financing Receivables | 0.10% | 0.20% |
| Weighted Average Interest Rate Reduction (% points) | 2.00% | 2.00% |
| Weighted Average Payment Term Extensions (# of months) | 19 months | 19 months |
Loans and Card Member Receivables - Performance (Details 4) - USD ($) $ in Millions |
Jun. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | $ 1,733 | |
| Current | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | $ 1,328 | |
| 30-89 Days Past Due | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 147 | |
| 90+ Days Past Due | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 38 | |
| Card Member Loans | Consumer | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 781 | |
| Card Member Loans | Small Business | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 267 | |
| Card Member Loans | Corporate | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 0 | |
| Card Member Loans | Current | Consumer | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 579 | |
| Card Member Loans | Current | Small Business | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 236 | |
| Card Member Loans | Current | Corporate | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 0 | |
| Card Member Loans | 30-89 Days Past Due | Consumer | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 47 | |
| Card Member Loans | 30-89 Days Past Due | Small Business | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 33 | |
| Card Member Loans | 30-89 Days Past Due | Corporate | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 0 | |
| Card Member Loans | 90+ Days Past Due | Consumer | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 16 | |
| Card Member Loans | 90+ Days Past Due | Small Business | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 8 | |
| Card Member Loans | 90+ Days Past Due | Corporate | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 0 | |
| Card Member Receivables | Consumer | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 257 | |
| Card Member Receivables | Small Business | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 403 | |
| Card Member Receivables | Corporate | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 6 | |
| Card Member Receivables | Current | Consumer | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 182 | |
| Card Member Receivables | Current | Small Business | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 293 | |
| Card Member Receivables | Current | Corporate | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 13 | |
| Card Member Receivables | 30-89 Days Past Due | Consumer | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 14 | |
| Card Member Receivables | 30-89 Days Past Due | Small Business | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 50 | |
| Card Member Receivables | 30-89 Days Past Due | Corporate | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 1 | |
| Card Member Receivables | 90+ Days Past Due | Consumer | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 4 | |
| Card Member Receivables | 90+ Days Past Due | Small Business | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 9 | |
| Card Member Receivables | 90+ Days Past Due | Corporate | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 1 | |
| Other Loans | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | $ 19 | |
| Other Loans | Current | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 25 | |
| Other Loans | 30-89 Days Past Due | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | 2 | |
| Other Loans | 90+ Days Past Due | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Account Balances | $ 0 |
Loans and Card Member Receivables - TDR (Details 5) - USD ($) $ in Millions |
Jun. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Impaired loans and receivables | ||
| Loans over 90 days past due and accruing interest | $ 309 | |
| Non-accrual loans | 191 | |
| Account classified as a TDR in program | 1,733 | |
| Account classified as a TDR out of program | 2,068 | |
| Total impaired loans and receivables | 4,301 | |
| Reserve for Credit Losses - TDRs | 504 | |
| Accounts Receivable and Loans Textuals | ||
| Account classified as TDR, past due 90 days and still accruing | 48 | |
| Accounts classified as TDR, non-accrual | 17 | |
| Out of Program TDR accounts that completed modification programs | 1,922 | |
| Out of Program TDR accounts not in compliance with modification programs | 146 | |
| Card Member Loans | Consumer | ||
| Impaired loans and receivables | ||
| Loans over 90 days past due and accruing interest | $ 333 | 252 |
| Non-accrual loans | 235 | 155 |
| Account classified as a TDR in program | 781 | |
| Account classified as a TDR out of program | 1,098 | |
| Total impaired loans and receivables | 2,286 | |
| Reserve for Credit Losses - TDRs | 335 | |
| Card Member Loans | Small Business | ||
| Impaired loans and receivables | ||
| Loans over 90 days past due and accruing interest | 89 | 54 |
| Non-accrual loans | 66 | 34 |
| Account classified as a TDR in program | 267 | |
| Account classified as a TDR out of program | 380 | |
| Total impaired loans and receivables | 735 | |
| Reserve for Credit Losses - TDRs | 108 | |
| Card Member Loans | Corporate | ||
| Impaired loans and receivables | ||
| Loans over 90 days past due and accruing interest | 0 | 0 |
| Non-accrual loans | 0 | 0 |
| Account classified as a TDR in program | 0 | |
| Account classified as a TDR out of program | 0 | |
| Total impaired loans and receivables | 0 | |
| Reserve for Credit Losses - TDRs | 0 | |
| Card Member Receivables | Consumer | ||
| Impaired loans and receivables | ||
| Loans over 90 days past due and accruing interest | 0 | 0 |
| Non-accrual loans | 0 | 0 |
| Account classified as a TDR in program | 257 | |
| Account classified as a TDR out of program | 179 | |
| Total impaired loans and receivables | 436 | |
| Reserve for Credit Losses - TDRs | 20 | |
| Card Member Receivables | Small Business | ||
| Impaired loans and receivables | ||
| Loans over 90 days past due and accruing interest | 0 | 0 |
| Non-accrual loans | 0 | 0 |
| Account classified as a TDR in program | 403 | |
| Account classified as a TDR out of program | 402 | |
| Total impaired loans and receivables | 805 | |
| Reserve for Credit Losses - TDRs | 40 | |
| Card Member Receivables | Corporate | ||
| Impaired loans and receivables | ||
| Loans over 90 days past due and accruing interest | 0 | 0 |
| Non-accrual loans | $ 0 | 0 |
| Account classified as a TDR in program | 6 | |
| Account classified as a TDR out of program | 7 | |
| Total impaired loans and receivables | 13 | |
| Reserve for Credit Losses - TDRs | 1 | |
| Other Loans | ||
| Impaired loans and receivables | ||
| Loans over 90 days past due and accruing interest | 3 | |
| Non-accrual loans | 2 | |
| Account classified as a TDR in program | 19 | |
| Account classified as a TDR out of program | 2 | |
| Total impaired loans and receivables | 26 | |
| Reserve for Credit Losses - TDRs | $ 0 |
Loans and Card Member Receivables - Modified as TDR, Prior to Adoption (Details 6) account in Thousands, $ in Millions |
3 Months Ended | 6 Months Ended |
|---|---|---|
|
Jun. 30, 2022
USD ($)
account
|
Jun. 30, 2022
USD ($)
account
|
|
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Number of Accounts | account | 32 | 66 |
| Account Balances | $ | $ 334 | $ 683 |
| Card Member Loans | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Number of Accounts | account | 26 | 53 |
| Account Balances | $ | $ 171 | $ 348 |
| Average Interest Rate Reduction (as a percent) | 14.00% | 14.00% |
| Card Member Receivables | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Number of Accounts | account | 5 | 11 |
| Account Balances | $ | $ 162 | $ 333 |
| Average Payment Term Extension (in months) | 19 months | 18 months |
| Other Loans | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Number of Accounts | account | 1 | 2 |
| Account Balances | $ | $ 1 | $ 2 |
| Average Interest Rate Reduction (as a percent) | 3.00% | 3.00% |
| Average Payment Term Extension (in months) | 17 months | 16 months |
Loans and Card Member Receivables - TDR Subsequently Defaulted (Details 7) account in Thousands, $ in Millions |
3 Months Ended | 6 Months Ended |
|---|---|---|
|
Jun. 30, 2022
USD ($)
account
|
Jun. 30, 2022
USD ($)
account
|
|
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Number of Accounts | account | 5 | 10 |
| Aggregated Outstanding Balances Upon Default | $ | $ 33 | $ 72 |
| Card Member Loans | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Number of Accounts | account | 4 | 8 |
| Aggregated Outstanding Balances Upon Default | $ | $ 23 | $ 52 |
| Card Member Receivables | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Number of Accounts | account | 1 | 2 |
| Aggregated Outstanding Balances Upon Default | $ | $ 10 | $ 20 |
| Other Loans | ||
| Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
| Number of Accounts | account | 0 | 0 |
| Aggregated Outstanding Balances Upon Default | $ | $ 0 | $ 0 |
Reserves for Credit Losses (Details) |
Jun. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| U.S. Unemployment Rate | Second quarter of 2023 | ||
| Financing Receivable, Allowance for Credit Loss [Line Items] | ||
| Financing receivable, reserves for credit losses, measurement input | 0.03 | |
| U.S. Unemployment Rate | Minimum | Second quarter of 2023 | ||
| 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 2023 | ||
| Financing Receivable, Allowance for Credit Loss [Line Items] | ||
| Financing receivable, reserves for credit losses, measurement input | 0.03 | 0.03 |
| U.S. Unemployment Rate | Minimum | Fourth quarter of 2024 | ||
| Financing Receivable, Allowance for Credit Loss [Line Items] | ||
| Financing receivable, reserves for credit losses, measurement input | 0.03 | 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 | Maximum | Second quarter of 2023 | ||
| 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 2023 | ||
| Financing Receivable, Allowance for Credit Loss [Line Items] | ||
| Financing receivable, reserves for credit losses, measurement input | 0.06 | 0.08 |
| U.S. Unemployment Rate | Maximum | Fourth quarter of 2024 | ||
| 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 2025 | ||
| Financing Receivable, Allowance for Credit Loss [Line Items] | ||
| Financing receivable, reserves for credit losses, measurement input | 0.06 | 0.06 |
| U.S. GDP Growth (Contraction) | Second quarter of 2023 | ||
| 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 2023 | ||
| Financing Receivable, Allowance for Credit Loss [Line Items] | ||
| Financing receivable, reserves for credit losses, measurement input | 0.05 | |
| U.S. GDP Growth (Contraction) | Minimum | Fourth quarter of 2023 | ||
| Financing Receivable, Allowance for Credit Loss [Line Items] | ||
| Financing receivable, reserves for credit losses, measurement input | 0.04 | 0.06 |
| U.S. GDP Growth (Contraction) | Minimum | Fourth quarter of 2024 | ||
| Financing Receivable, Allowance for Credit Loss [Line Items] | ||
| Financing receivable, reserves for credit losses, measurement input | 0.02 | 0.03 |
| 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 | 0.04 |
| U.S. GDP Growth (Contraction) | Maximum | Second quarter of 2023 | ||
| Financing Receivable, Allowance for Credit Loss [Line Items] | ||
| Financing receivable, reserves for credit losses, measurement input | (0.07) | |
| U.S. GDP Growth (Contraction) | Maximum | Fourth quarter of 2023 | ||
| Financing Receivable, Allowance for Credit Loss [Line Items] | ||
| Financing receivable, reserves for credit losses, measurement input | (0.03) | 0.002 |
| U.S. GDP Growth (Contraction) | Maximum | Fourth quarter of 2024 | ||
| Financing Receivable, Allowance for Credit Loss [Line Items] | ||
| Financing receivable, reserves for credit losses, measurement input | 0.01 | 0.02 |
| 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 | 0.02 | 0.03 |
Reserves for Credit Losses (Details 1) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
| Reserve for Losses [Roll Forward] | ||||
| Provisions for credit losses | $ 1,198 | $ 410 | $ 2,253 | $ 377 |
| Card Member Loans | ||||
| Reserve for Losses [Roll Forward] | ||||
| Beginning Balance | 4,053 | 2,981 | 3,747 | 3,305 |
| Provisions for credit losses | 923 | 272 | 1,709 | 161 |
| Other | 11 | (9) | 17 | (7) |
| Ending Balance | 4,390 | 2,997 | 4,390 | 2,997 |
| Foreign currency translation adjustments | 12 | (8) | 18 | (6) |
| Card Member Loans | Principal | ||||
| Reserve for Losses [Roll Forward] | ||||
| Net write-offs | (490) | (192) | (887) | (357) |
| Recoveries | 130 | 138 | 258 | 283 |
| Card Member Loans | Interest and fees | ||||
| Reserve for Losses [Roll Forward] | ||||
| Net write-offs | $ (107) | $ (55) | $ (196) | $ (105) |
Reserves for Credit Losses (Details 2) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
| Reserve for Losses [Roll Forward] | ||||
| Provisions for credit losses | $ 1,198 | $ 410 | $ 2,253 | $ 377 |
| Card Member Receivables | ||||
| Reserve for Losses [Roll Forward] | ||||
| Beginning Balance | 223 | 76 | 229 | 64 |
| Provisions for credit losses | 230 | 138 | 452 | 218 |
| Net write-offs | (243) | (95) | (473) | (162) |
| Other | 0 | 0 | 2 | (1) |
| Ending Balance | 210 | 119 | 210 | 119 |
| Recoveries | $ 76 | $ 67 | $ 145 | $ 134 |
Investment Securities (Details) - USD ($) $ in Millions |
6 Months Ended | 12 Months Ended |
|---|---|---|
Jun. 30, 2023 |
Dec. 31, 2022 |
|
| Debt Securities, Available-for-Sale [Line Items] | ||
| Accrued interest available-for-sale debt securities | $ 5 | $ 12 |
| Debt securities | ||
| Cost | 4,103 | |
| Estimated Fair Value | 4,045 | |
| Equity securities | ||
| Cost | 50 | 50 |
| Gross Unrealized Gains | 0 | 0 |
| Gross Unrealized Losses | (8) | (9) |
| Estimated Fair Value | 42 | 41 |
| Total Cost | 4,153 | 4,671 |
| Total Gross Unrealized Gains | 0 | 0 |
| Total Gross Unrealized Losses | (66) | (93) |
| Total Estimated Fair Value | 4,087 | 4,578 |
| State and municipal obligations | ||
| Debt securities | ||
| Cost | 63 | 64 |
| Gross Unrealized Gains | 0 | 0 |
| Gross Unrealized Losses | (9) | (10) |
| Estimated Fair Value | 54 | 54 |
| U.S. Government agency obligations | ||
| Debt securities | ||
| Cost | 4 | 5 |
| Gross Unrealized Gains | 0 | 0 |
| Gross Unrealized Losses | 0 | 0 |
| Estimated Fair Value | 4 | 5 |
| U.S. Government treasury obligations | ||
| Debt securities | ||
| Cost | 3,205 | 3,859 |
| Gross Unrealized Gains | 0 | 0 |
| Gross Unrealized Losses | (48) | (73) |
| Estimated Fair Value | 3,157 | 3,786 |
| Mortgage-backed securities | ||
| Debt securities | ||
| Cost | 13 | 13 |
| Gross Unrealized Gains | 0 | 0 |
| Gross Unrealized Losses | (1) | 0 |
| Estimated Fair Value | 12 | 13 |
| Foreign government bonds and obligations | ||
| Debt securities | ||
| Cost | 754 | 633 |
| Gross Unrealized Gains | 0 | 0 |
| Gross Unrealized Losses | 0 | (1) |
| Estimated Fair Value | 754 | 632 |
| Other | ||
| Debt securities | ||
| Cost | 64 | 47 |
| Gross Unrealized Gains | 0 | 0 |
| Gross Unrealized Losses | 0 | 0 |
| Estimated Fair Value | $ 64 | $ 47 |
Investment Securities (Details 1) - USD ($) $ in Millions |
Jun. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Debt Securities, Available-for-Sale [Line Items] | ||
| Estimated fair value, less than 12 months | $ 1,009 | $ 4,311 |
| Gross unrealized losses, less than 12 months | (19) | (83) |
| Estimated fair value, 12 months or more | 2,172 | 52 |
| Gross unrealized losses, more than 12 months | (39) | (1) |
| State and municipal obligations | ||
| Debt Securities, Available-for-Sale [Line Items] | ||
| Estimated fair value, less than 12 months | 0 | 52 |
| Gross unrealized losses, less than 12 months | 0 | (10) |
| Estimated fair value, 12 months or more | 30 | 0 |
| Gross unrealized losses, more than 12 months | (9) | 0 |
| U.S. Government treasury obligations | ||
| Debt Securities, Available-for-Sale [Line Items] | ||
| Estimated fair value, less than 12 months | 1,009 | 3,710 |
| Gross unrealized losses, less than 12 months | (19) | (72) |
| Estimated fair value, 12 months or more | 2,138 | 52 |
| Gross unrealized losses, more than 12 months | (29) | (1) |
| Mortgage-backed securities | ||
| Debt Securities, Available-for-Sale [Line Items] | ||
| Estimated fair value, less than 12 months | 0 | 0 |
| Gross unrealized losses, less than 12 months | 0 | 0 |
| Estimated fair value, 12 months or more | 4 | 0 |
| Gross unrealized losses, more than 12 months | (1) | 0 |
| Foreign government bonds and obligations | ||
| Debt Securities, Available-for-Sale [Line Items] | ||
| Estimated fair value, less than 12 months | 0 | 549 |
| Gross unrealized losses, less than 12 months | 0 | (1) |
| Estimated fair value, 12 months or more | 0 | 0 |
| Gross unrealized losses, more than 12 months | $ 0 | $ 0 |
Investment Securities (Details 2) $ in Millions |
Jun. 30, 2023
USD ($)
security
|
Dec. 31, 2022
USD ($)
security
|
|---|---|---|
| Debt Securities, Available-for-Sale [Line Items] | ||
| Number of securities, less than 12 months | security | 24 | 88 |
| Estimated fair value, less than 12 months | $ 1,009 | $ 4,311 |
| Gross unrealized losses, less than 12 months | $ (19) | $ (83) |
| Number of securities, 12 months or more | security | 37 | 3 |
| Estimated fair value, 12 months or more | $ 2,172 | $ 52 |
| Gross unrealized losses, more than 12 months | $ (39) | $ (1) |
| Number of securities, total | security | 61 | 91 |
| Estimated fair value, total | $ 3,181 | $ 4,363 |
| Gross unrealized losses, total | $ (58) | $ (84) |
| 90–100% | ||
| Debt Securities, Available-for-Sale [Line Items] | ||
| Number of securities, less than 12 months | security | 24 | 74 |
| Estimated fair value, less than 12 months | $ 1,009 | $ 4,287 |
| Gross unrealized losses, less than 12 months | $ (19) | $ (74) |
| Number of securities, 12 months or more | security | 23 | 3 |
| Estimated fair value, 12 months or more | $ 2,147 | $ 52 |
| Gross unrealized losses, more than 12 months | $ (30) | $ (1) |
| Number of securities, total | security | 47 | 77 |
| Estimated fair value, total | $ 3,156 | $ 4,339 |
| Gross unrealized losses, total | $ (49) | $ (75) |
| Less than 90% | ||
| Debt Securities, Available-for-Sale [Line Items] | ||
| Number of securities, less than 12 months | security | 0 | 14 |
| Estimated fair value, less than 12 months | $ 0 | $ 24 |
| Gross unrealized losses, less than 12 months | $ 0 | $ (9) |
| Number of securities, 12 months or more | security | 14 | 0 |
| Estimated fair value, 12 months or more | $ 25 | $ 0 |
| Gross unrealized losses, more than 12 months | $ (9) | $ 0 |
| Number of securities, total | security | 14 | 14 |
| Estimated fair value, total | $ 25 | $ 24 |
| Gross unrealized losses, total | $ (9) | $ (9) |
Investment Securities (Details 3) $ in Millions |
Jun. 30, 2023
USD ($)
|
|---|---|
| Cost | |
| Due within 1 year | $ 3,792 |
| Due after 1 year but within 5 years | 212 |
| Due after 5 years but within 10 years | 41 |
| Due after 10 years | 58 |
| Total | 4,103 |
| Estimated Fair Value | |
| Due within 1 year | 3,751 |
| Due after 1 year but within 5 years | 204 |
| Due after 5 years but within 10 years | 41 |
| Due after 10 years | 49 |
| Total | $ 4,045 |
Asset Securitizations (Details) - USD ($) |
Jun. 30, 2023 |
Dec. 31, 2022 |
Jun. 30, 2022 |
Dec. 31, 2021 |
|---|---|---|---|---|
| Assets from Trusts [Line Items] | ||||
| Restricted balances included in Cash and cash equivalents | $ 1,231,000,000 | $ 544,000,000 | $ 1,086,000,000 | $ 525,000,000 |
| American Express Lending Trust | ||||
| Assets from Trusts [Line Items] | ||||
| Direct and Indirect ownership of variable interests | 14,800,000,000 | 16,000,000,000 | ||
| Restricted balances included in Cash and cash equivalents | 668,000,000 | 59,000,000 | ||
| American Express Charge Trust | ||||
| Assets from Trusts [Line Items] | ||||
| Direct and Indirect ownership of variable interests | 3,100,000,000 | 5,200,000,000 | ||
| Restricted balances included in Cash and cash equivalents | $ 0 | $ 0 |
Customer Deposits (Details) - USD ($) $ in Millions |
Jun. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| U.S.: | ||
| Interest-bearing | $ 121,758 | $ 109,119 |
| Non-interest-bearing (includes Card Member credit balances of: 2023, $464; 2022, $605) | 514 | 663 |
| Non-U.S.: | ||
| Interest-bearing | 14 | 15 |
| Non-interest-bearing (includes Card Member credit balances of: 2023, $467; 2022, $439) | 470 | 442 |
| Total customer deposits | 122,756 | 110,239 |
| Card Member Credit Balances | ||
| U.S.: | ||
| Non-interest-bearing (includes Card Member credit balances of: 2023, $464; 2022, $605) | 464 | 605 |
| Non-U.S.: | ||
| Non-interest-bearing (includes Card Member credit balances of: 2023, $467; 2022, $439) | $ 467 | $ 439 |
Customer Deposits (Details 1) - USD ($) $ in Millions |
Jun. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Deposits, by Type | ||
| Savings and transaction accounts | $ 85,932 | $ 76,731 |
| Certificates of deposit: | ||
| Direct | 4,595 | 2,765 |
| Third-party (brokered) | 15,061 | 13,331 |
| Sweep accounts – Third-party (brokered) | 16,175 | 16,297 |
| Other deposits | 62 | 71 |
| Card Member credit balances | 931 | 1,044 |
| Total customer deposits | $ 122,756 | $ 110,239 |
Customer Deposits (Details 2) $ in Millions |
Jun. 30, 2023
USD ($)
|
|---|---|
| Time Deposits By Maturity | |
| 2023 | $ 4,115 |
| 2024 | 9,787 |
| 2025 | 3,777 |
| 2026 | 651 |
| 2027 | 781 |
| After 5 Years | 545 |
| Certificates of deposit | $ 19,656 |
Customer Deposits (Details 3) - USD ($) $ in Millions |
Jun. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Time Deposits at or above FDIC Insurance Limit [Line Items] | ||
| Time Deposits at or above FDIC insurance limit | $ 1,551 | $ 999 |
| U.S. | ||
| Time Deposits at or above FDIC Insurance Limit [Line Items] | ||
| Time Deposits at or above FDIC insurance limit | 1,551 | 998 |
| Non-US | ||
| Time Deposits at or above FDIC Insurance Limit [Line Items] | ||
| Time Deposits at or above FDIC insurance limit | $ 0 | $ 1 |
Contingencies (Details Textual) |
1 Months Ended | ||
|---|---|---|---|
|
Jul. 31, 2023
USD ($)
|
Jun. 30, 2023
USD ($)
|
Jan. 29, 2019
state
|
|
| Minimum | |||
| Loss Contingencies [Line Items] | |||
| Current estimate of possible loss | $ 0 | ||
| Maximum | |||
| Loss Contingencies [Line Items] | |||
| Current estimate of possible loss | $ 310,000,000 | ||
| Violation Of Federal Antitrust Law And Consumer Laws Class Action Case | |||
| Loss Contingencies [Line Items] | |||
| Number of states with remaining claims under antitrust laws | state | 11 | ||
| Number of states with remaining claims under consumer protection laws | state | 6 | ||
| OCC Review, Historical Sales Practices | Subsequent Event | |||
| Loss Contingencies [Line Items] | |||
| Amount awarded to other party | $ 15,000,000 |
Derivatives and Hedging Activities (Details) - USD ($) $ in Millions |
Jun. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Derivatives, Fair Value [Line Items] | ||
| Derivatives, gross | $ 205 | $ 521 |
| Derivatives, gross | 828 | 801 |
| Derivative asset and derivative liability netting, assets | (118) | (257) |
| Derivative asset and derivative liability netting, liabilities | (118) | (257) |
| Cash collateral netting, assets | (2) | (11) |
| Cash collateral netting, liabilities | (187) | (212) |
| Total derivatives assets, net | 85 | 253 |
| Total derivatives liabilities, net | 523 | 332 |
| Other Assets | Designated as Hedging Instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivatives, gross | 55 | 350 |
| Other Assets | Interest Rate Contract | Designated as Hedging Instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivatives, gross | 0 | 0 |
| Other Assets | Foreign Exchange Contract | Designated as Hedging Instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivatives, gross | 55 | 350 |
| Other Assets | Foreign Exchange Contract | Not Designated as Hedging Instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivatives, gross | 150 | 171 |
| Other Liabilities | Designated as Hedging Instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivatives, gross | 596 | 462 |
| Other Liabilities | Interest Rate Contract | Designated as Hedging Instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivatives, gross | 176 | 211 |
| Other Liabilities | Foreign Exchange Contract | Designated as Hedging Instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivatives, gross | 420 | 251 |
| Other Liabilities | Foreign Exchange Contract | Not Designated as Hedging Instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivatives, gross | $ 232 | $ 339 |
Derivatives and Hedging Activities (Details Textual) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
|---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
Dec. 31, 2022 |
|
| Derivative [Line Items] | |||||
| Margin on interest rate swaps | $ 7 | $ 7 | $ 8 | ||
| Carrying values of hedged liabilities | 4,400 | 4,400 | 7,800 | ||
| Cumulative amount of fair value hedging adjustment | (198) | (198) | (236) | ||
| Net increase (decrease) in interest expense on long term debt and other | 44 | $ (34) | 83 | $ (91) | |
| Fair Value Hedging | Fixed-Rate Debt Obligations | |||||
| Derivative [Line Items] | |||||
| Fixed-rate debt obligations designated in fair value hedging relationships | 4,600 | 4,600 | 8,100 | ||
| Net Investment Hedges | |||||
| Derivative [Line Items] | |||||
| Notional amount of derivatives | 12,700 | 12,700 | 12,500 | ||
| Gain (loss) on net investment hedges, net of taxes | (307) | 293 | (505) | 208 | |
| Reclassifications out of AOCI | 0 | 0 | 0 | 0 | |
| Foreign Exchange Contract | Not Designated as Hedging Instrument | |||||
| Derivative [Line Items] | |||||
| Notional amount of derivatives | 23,200 | 23,200 | 21,700 | ||
| Foreign Exchange Contract | Other Expense | Not Designated as Hedging Instrument | |||||
| Derivative [Line Items] | |||||
| Gain (loss) in changes in fair value of derivatives not designated as hedges | 25 | (1) | 30 | (13) | |
| Equity Linked Embedded Derivative | Not Designated as Hedging Instrument | |||||
| Derivative [Line Items] | |||||
| Notional amount of derivatives | 78 | 78 | $ 78 | ||
| Equity Linked Embedded Derivative | Noninterest Income | Not Designated as Hedging Instrument | |||||
| Derivative [Line Items] | |||||
| Gain (loss) on embedded derivative | $ 4 | $ (4) | $ 0 | $ (4) | |
Derivatives and Hedging Activities (Details 1) - Interest Expense - Interest Rate Contract - Fair Value Hedging - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Fixed-rate long-term debt | $ 15 | $ 106 | $ (38) | $ 364 |
| Derivatives designated as hedging instruments | (16) | (106) | 37 | (367) |
| Total | $ (1) | $ 0 | $ (1) | $ (3) |
Fair Values (Details) - USD ($) $ in Millions |
Jun. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Investment securities: | ||
| Equity securities | $ 42 | $ 41 |
| Debt securities | 4,045 | |
| Derivatives, gross | 205 | 521 |
| Liabilities | ||
| Derivatives, gross | 828 | 801 |
| Fair Value, Recurring | ||
| Investment securities: | ||
| Equity securities | 42 | 41 |
| Debt securities | 4,045 | 4,537 |
| Derivatives, gross | 205 | 521 |
| Total Assets | 4,292 | 5,099 |
| Liabilities | ||
| Derivatives, gross | 828 | 801 |
| Total Liabilities | 828 | 801 |
| Level 1 | Fair Value, Recurring | ||
| Investment securities: | ||
| Equity securities | 42 | 40 |
| Debt securities | 0 | 0 |
| Derivatives, gross | 0 | 0 |
| Total Assets | 42 | 40 |
| Liabilities | ||
| Derivatives, gross | 0 | 0 |
| Total Liabilities | 0 | 0 |
| Level 2 | Fair Value, Recurring | ||
| Investment securities: | ||
| Equity securities | 0 | 1 |
| Debt securities | 3,981 | 4,490 |
| Derivatives, gross | 178 | 494 |
| Total Assets | 4,159 | 4,985 |
| Liabilities | ||
| Derivatives, gross | 828 | 801 |
| Total Liabilities | 828 | 801 |
| Level 3 | Fair Value, Recurring | ||
| Investment securities: | ||
| Equity securities | 0 | 0 |
| Debt securities | 64 | 47 |
| Derivatives, gross | 27 | 27 |
| Total Assets | 91 | 74 |
| Liabilities | ||
| Derivatives, gross | 0 | 0 |
| Total Liabilities | $ 0 | $ 0 |
Fair Values (Details 2) - USD ($) $ in Millions |
Jun. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Card Member Receivables | ||
| Fair Values (Textuals) | ||
| Financing receivables, gross | $ 58,221 | $ 57,613 |
| Card Member Loans | ||
| Fair Values (Textuals) | ||
| Financing receivables, gross | 114,602 | 107,964 |
| Variable Interest Entity, Primary Beneficiary | Card Member Receivables | ||
| Fair Values (Textuals) | ||
| Financing receivables, gross | 5,049 | 5,193 |
| Variable Interest Entity, Primary Beneficiary | Card Member Loans | ||
| Fair Values (Textuals) | ||
| Financing receivables, gross | 27,400 | 28,461 |
| Carrying Value | ||
| Financial assets for which carrying values equal or approximate fair value | ||
| Cash and cash equivalents | 43,000 | 34,000 |
| Other financial assets | 61,000 | 60,000 |
| Financial assets carried at other than fair value | ||
| Card Member and Other loans, less reserves | 116,000 | 110,000 |
| Financial Liabilities: | ||
| Financial liabilities for which carrying values equal or approximate fair value | 129,000 | 123,000 |
| Financial liabilities carried at other than fair value | ||
| Certificates of deposit | 20,000 | 16,000 |
| Long-term debt | 47,000 | 43,000 |
| Fair Values (Textuals) | ||
| Long-term debt | 47,000 | 43,000 |
| Corresponding Fair Value Amount | ||
| Financial assets for which carrying values equal or approximate fair value | ||
| Cash and cash equivalents | 43,000 | 34,000 |
| Other financial assets | 61,000 | 60,000 |
| Financial Liabilities: | ||
| Financial liabilities for which carrying values equal or approximate fair value | 129,000 | 123,000 |
| Corresponding Fair Value Amount | Variable Interest Entity, Primary Beneficiary | Card Member Receivables | ||
| Fair Values (Textuals) | ||
| Financing receivables, gross | 5,000 | 5,200 |
| Corresponding Fair Value Amount | Level 1 | ||
| Financial assets for which carrying values equal or approximate fair value | ||
| Cash and cash equivalents | 41,000 | 32,000 |
| 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 | 2,000 | 2,000 |
| Other financial assets | 61,000 | 60,000 |
| Financial Liabilities: | ||
| Financial liabilities for which carrying values equal or approximate fair value | 129,000 | 123,000 |
| 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 | 120,000 | 113,000 |
| Financial liabilities carried at other than fair value | ||
| Certificates of deposit | 19,000 | 16,000 |
| Long-term debt | 46,000 | 42,000 |
| Fair Values (Textuals) | ||
| Long-term debt | 46,000 | 42,000 |
| Portion at Other than Fair Value Measurement | Variable Interest Entity, Primary Beneficiary | ||
| Financial liabilities carried at other than fair value | ||
| Long-term debt | 14,400 | 12,300 |
| Fair Values (Textuals) | ||
| Long-term debt | 14,400 | 12,300 |
| Portion at Other than Fair Value Measurement | Variable Interest Entity, Primary Beneficiary | Card Member Loans | ||
| Fair Values (Textuals) | ||
| Financing receivables, gross | 27,400 | 28,400 |
| 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 |
| Financial liabilities carried at other than fair value | ||
| Certificates of deposit | 0 | 0 |
| Long-term debt | 0 | 0 |
| Fair Values (Textuals) | ||
| Long-term debt | 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 |
| Financial liabilities carried at other than fair value | ||
| Certificates of deposit | 19,000 | 16,000 |
| Long-term debt | 46,000 | 42,000 |
| Fair Values (Textuals) | ||
| Long-term debt | 46,000 | 42,000 |
| Portion at Other than Fair Value Measurement | Level 3 | ||
| Financial assets carried at other than fair value | ||
| Card Member and Other loans, less reserves | 120,000 | 113,000 |
| Financial liabilities carried at other than fair value | ||
| Certificates of deposit | 0 | 0 |
| Long-term debt | 0 | 0 |
| Fair Values (Textuals) | ||
| Long-term debt | $ 0 | $ 0 |
Fair Values (Details Textual) - Fair Value, Nonrecurring - USD ($) |
3 Months Ended | 6 Months Ended | |||
|---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
Dec. 31, 2022 |
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Carrying value of equity securities without readily determinable fair values | $ 900,000,000 | $ 900,000,000 | $ 1,000,000,000 | ||
| Net upward adjustments of equity securities without readily determinable fair values | 0 | $ 76,000,000 | 0 | $ 88,000,000 | |
| Net downward adjustments of equity securities without readily determinable fair values | 10,000,000 | $ 84,000,000 | 105,000,000 | $ 102,000,000 | |
| Cumulative net unrealized gains for equity investments without readily determinable fair values | 1,200,000,000 | 1,200,000,000 | 1,200,000,000 | ||
| Cumulative net unrealized losses for equity investments without readily determinable fair values | 504,000,000 | 504,000,000 | 394,000,000 | ||
| 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 | $ 0 | $ 0 | $ 600,000,000 | ||
Guarantees (Details) - USD ($) $ in Millions |
Jun. 30, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Guarantees [Abstract] | ||
| Maximum potential amount of undiscounted future payments | $ 1,000 | $ 1,000 |
| Amount of related liability | $ 24 | $ 21 |
Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
| AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
| Beginning Balance | $ 25,992 | $ 22,383 | $ 24,711 | $ 22,177 |
| Net change | 22 | (170) | 126 | (198) |
| Ending Balance | 26,703 | 23,235 | 26,703 | 23,235 |
| Tax impact for the changes in each component of accumulated other comprehensive (loss) income | ||||
| Total tax impact | (58) | 95 | (92) | 63 |
| Accumulated Other Comprehensive Income (Loss) | ||||
| AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
| Beginning Balance | (3,106) | (2,973) | (3,210) | (2,945) |
| Net change | 22 | (170) | 126 | (198) |
| Ending Balance | (3,084) | (3,143) | (3,084) | (3,143) |
| Net Unrealized Gains (Losses) on Debt Securities | ||||
| AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
| Beginning Balance | (45) | (5) | (64) | 23 |
| Net change | 1 | (25) | 20 | (53) |
| Ending Balance | (44) | (30) | (44) | (30) |
| Tax impact for the changes in each component of accumulated other comprehensive (loss) income | ||||
| Total tax impact | 0 | (7) | 6 | (16) |
| Foreign Currency Translation Adjustment Gains (Losses), net of hedges | ||||
| AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
| Beginning Balance | (2,594) | (2,412) | (2,622) | (2,392) |
| Net change | 25 | (157) | 53 | (177) |
| Ending Balance | (2,569) | (2,569) | (2,569) | (2,569) |
| Tax impact for the changes in each component of accumulated other comprehensive (loss) income | ||||
| Total tax impact | (53) | 92 | (98) | 62 |
| Net Unrealized Pension and Other Postretirement Benefit Gains (Losses) | ||||
| AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
| Beginning Balance | (467) | (556) | (524) | (576) |
| Net change | (4) | 12 | 53 | 32 |
| Ending Balance | (471) | (544) | (471) | (544) |
| Tax impact for the changes in each component of accumulated other comprehensive (loss) income | ||||
| Total tax impact | $ (5) | $ 10 | $ 0 | $ 17 |
Changes in Accumulated Other Comprehensive Income (Loss) (Details Textual) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Other comprehensive income (loss) | $ 22 | $ (170) | $ 126 | $ (198) |
| Decrease due to amounts reclassified into earnings | ||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Other comprehensive income (loss) | $ 0 | $ 0 | $ 0 | $ 0 |
Service Fees and Other Revenue and Other Expenses (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
| Non Interest Income [Line Items] | ||||
| Total Service fees and other revenue | $ 11,949 | $ 11,035 | $ 23,247 | $ 20,571 |
| Service fees and other revenue | ||||
| Non Interest Income [Line Items] | ||||
| Service fees | 373 | 370 | 739 | 719 |
| Foreign currency-related revenue | 359 | 304 | 697 | 529 |
| Delinquency fees | 239 | 193 | 472 | 372 |
| Travel commissions and fees | 158 | 131 | 293 | 219 |
| Other fees and revenues | 103 | 267 | 249 | 332 |
| Total Service fees and other revenue | $ 1,232 | $ 1,265 | $ 2,450 | $ 2,171 |
Service Fees and Other Revenue and Other Expenses (Details 1) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
| Service Fees and Other Revenue and Other Expenses [Abstract] | ||||
| Data processing and equipment | $ 677 | $ 623 | $ 1,337 | $ 1,223 |
| Professional services | 467 | 501 | 907 | 973 |
| Net unrealized and realized losses on Amex Ventures investments | 11 | 10 | 106 | 21 |
| Other | 391 | 317 | 758 | 632 |
| Total Other expenses | $ 1,546 | $ 1,451 | $ 3,108 | $ 2,849 |
Income Taxes (Details Textual) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
| Income Tax Disclosure [Abstract] | ||||
| Actual tax rates | 20.50% | 22.80% | 18.60% | 22.70% |
| Unrecognized tax benefits change as a result of potential resolutions of prior years' tax | $ 123 | $ 123 | ||
| Unrecognized tax benefits that, if recognized, could impact effective tax rate | $ 97 | $ 97 | ||
Earnings Per Common Share (EPS) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions |
3 Months Ended | 6 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|||||||||
| Basic and diluted: | ||||||||||||
| Net income | $ 2,174 | $ 1,964 | $ 3,990 | $ 4,063 | ||||||||
| Preferred dividends | (15) | (15) | (29) | (29) | ||||||||
| Net income available to common shareholders | 2,159 | 1,949 | 3,961 | 4,034 | ||||||||
| Earnings allocated to participating share awards | (17) | (15) | (31) | (31) | ||||||||
| Net income attributable to common shareholders | $ 2,142 | $ 1,934 | $ 3,930 | $ 4,003 | ||||||||
| Denominator: | ||||||||||||
| Basic: Weighted-average common stock (in shares) | 740,000 | 752,000 | 741,000 | 755,000 | ||||||||
| Add: Weighted-average stock options (in shares) | 1,000 | 1,000 | 1,000 | 1,000 | ||||||||
| Diluted (in shares) | 741,000 | 753,000 | 742,000 | 756,000 | ||||||||
| Basic EPS (in dollars per share) | $ 2.89 | [1] | $ 2.57 | [1] | $ 5.30 | [2] | $ 5.30 | [2] | ||||
| Diluted EPS (in dollars per share) | $ 2.89 | [1] | $ 2.57 | [1] | $ 5.29 | [2] | $ 5.30 | [2] | ||||
| Stock options | ||||||||||||
| Denominator: | ||||||||||||
| The dilutive effect of securities excluded from the calculation of earnings per share (in shares) | 1,400 | 250 | 1,400 | 210 | ||||||||
| ||||||||||||
Reportable Operating Segments (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||
|---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
Dec. 31, 2022 |
|
| Segment Reporting Information [Line Items] | |||||
| Total non-interest revenues | $ 11,949 | $ 11,035 | $ 23,247 | $ 20,571 | |
| Revenue from contracts with customers | 9,433 | 8,771 | 18,279 | 16,411 | |
| Interest income | 4,775 | 2,799 | 9,191 | 5,319 | |
| Interest expense | 1,670 | 439 | 3,103 | 760 | |
| Total revenues net of interest expense | 15,054 | 13,395 | 29,335 | 25,130 | |
| Pretax income (loss) | 2,734 | 2,543 | 4,901 | 5,255 | |
| Total assets | 244,904 | 205,000 | 244,904 | 205,000 | $ 228,354 |
| Corporate and Other | |||||
| Segment Reporting Information [Line Items] | |||||
| Total non-interest revenues | (19) | 51 | (50) | 0 | |
| Revenue from contracts with customers | (7) | 23 | (20) | 27 | |
| Interest income | 538 | 86 | 992 | 129 | |
| Interest expense | 572 | 99 | 1,040 | 151 | |
| Total revenues net of interest expense | (53) | 38 | (98) | (22) | |
| Pretax income (loss) | (445) | (493) | (1,112) | (1,007) | |
| Total assets | 41,000 | 24,000 | 41,000 | 24,000 | |
| USCS | Operating Segments | |||||
| Segment Reporting Information [Line Items] | |||||
| Total non-interest revenues | 4,643 | 4,154 | 9,002 | 7,791 | |
| Revenue from contracts with customers | 3,479 | 3,197 | 6,718 | 5,939 | |
| Interest income | 2,934 | 1,893 | 5,709 | 3,629 | |
| Interest expense | 647 | 136 | 1,198 | 239 | |
| Total revenues net of interest expense | 6,930 | 5,911 | 13,513 | 11,181 | |
| Pretax income (loss) | 1,250 | 1,273 | 2,380 | 2,805 | |
| Total assets | 95,000 | 82,000 | 95,000 | 82,000 | |
| CS | Operating Segments | |||||
| Segment Reporting Information [Line Items] | |||||
| Total non-interest revenues | 3,301 | 3,122 | 6,408 | 5,841 | |
| Revenue from contracts with customers | 2,910 | 2,791 | 5,641 | 5,212 | |
| Interest income | 792 | 468 | 1,498 | 883 | |
| Interest expense | 364 | 121 | 685 | 208 | |
| Total revenues net of interest expense | 3,729 | 3,469 | 7,221 | 6,516 | |
| Pretax income (loss) | 713 | 778 | 1,343 | 1,559 | |
| Total assets | 54,000 | 49,000 | 54,000 | 49,000 | |
| ICS | Operating Segments | |||||
| Segment Reporting Information [Line Items] | |||||
| Total non-interest revenues | 2,349 | 2,140 | 4,616 | 3,999 | |
| Revenue from contracts with customers | 1,528 | 1,326 | 2,969 | 2,525 | |
| Interest income | 497 | 347 | 964 | 671 | |
| Interest expense | 261 | 144 | 485 | 267 | |
| Total revenues net of interest expense | 2,585 | 2,343 | 5,095 | 4,403 | |
| Pretax income (loss) | 253 | 183 | 442 | 427 | |
| Total assets | 38,000 | 34,000 | 38,000 | 34,000 | |
| GMNS | Operating Segments | |||||
| Segment Reporting Information [Line Items] | |||||
| Total non-interest revenues | 1,675 | 1,568 | 3,271 | 2,940 | |
| Revenue from contracts with customers | 1,523 | 1,434 | 2,971 | 2,708 | |
| Interest income | 14 | 5 | 28 | 7 | |
| Interest expense | (174) | (61) | (305) | (105) | |
| Total revenues net of interest expense | 1,863 | 1,634 | 3,604 | 3,052 | |
| Pretax income (loss) | 963 | 802 | 1,848 | 1,471 | |
| Total assets | $ 17,000 | $ 16,000 | $ 17,000 | $ 16,000 | |
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