AMERICAN EXPRESS CO, 10-K filed on 2/7/2025
Annual Report
v3.25.0.1
Cover - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2024
Jan. 31, 2025
Jun. 30, 2024
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 1-7657    
Entity Registrant Name American Express Co    
Entity Incorporation, State or Country Code NY    
Entity Tax Identification Number 13-4922250    
Entity Address, Address Line One 200 Vesey Street    
Entity Address, City or Town New York    
Entity Address, State or Province NY    
Entity Address, Postal Zip Code 10285    
City Area Code 212    
Local Phone Number 640-2000    
Title of 12(b) Security Common Shares (par value $0.20 per Share)    
Trading Symbol AXP    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 164.7
Entity Common Stock, Shares Outstanding   702,532,111  
Documents Incorporated by Reference
DOCUMENTS INCORPORATED BY REFERENCE
Part III: Portions of Registrant’s Proxy Statement to be filed with the Securities and Exchange Commission in connection with the Annual Meeting of Shareholders to be held on April 29, 2025.
    
Entity Central Index Key 0000004962    
Amendment Flag false    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
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Audit Information
 12 Months Ended
Dec. 31, 2024
Auditor Information [Abstract]  
Auditor Firm ID 238
Auditor Name PricewaterhouseCoopers LLP
Auditor Location New York, New York
v3.25.0.1
Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Non-interest revenues      
Total non-interest revenues $ 50,406 $ 47,381 $ 42,967
Interest income      
Interest on loans 21,095 17,697 11,967
Interest and dividends on investment securities 86 128 96
Deposits with banks and other 2,614 2,158 595
Total interest income 23,795 19,983 12,658
Interest expense      
Deposits 5,695 4,865 1,527
Long-term debt and other 2,557 1,984 1,236
Total interest expense 8,252 6,849 2,763
Net interest income 15,543 13,134 9,895
Total revenues net of interest expense 65,949 60,515 52,862
Provisions for credit losses      
Provisions for credit losses 5,185 4,923 2,182
Total revenues net of interest expense after provisions for credit losses 60,764 55,592 50,680
Expenses      
Card Member rewards 16,599 15,367 14,002
Business development 5,886 5,657 4,943
Card Member services 4,782 3,968 2,959
Marketing 6,040 5,213 5,458
Salaries and employee benefits 8,198 8,067 7,252
Other, net 6,364 6,807 6,481
Total expenses 47,869 45,079 41,095
Pretax income 12,895 10,513 9,585
Income tax provision 2,766 2,139 2,071
Net income $ 10,129 $ 8,374 $ 7,514
Earnings per Common Share      
Basic (in dollars per share) [1] $ 14.04 $ 11.23 $ 9.86
Diluted (in dollars per share) [1] $ 14.01 $ 11.21 $ 9.85
Average common shares outstanding for earnings per common share:      
Basic (in shares) 712 735 751
Diluted (in shares) 713 736 752
Card Member receivables      
Provisions for credit losses      
Provisions for credit losses $ 774 $ 880 $ 627
Card Member loans      
Provisions for credit losses      
Provisions for credit losses 4,109 3,839 1,514
Other      
Provisions for credit losses      
Provisions for credit losses 302 204 41
Discount revenue      
Non-interest revenues      
Total non-interest revenues 35,192 33,416 30,739
Net card fees      
Non-interest revenues      
Total non-interest revenues 8,449 7,255 6,070
Service fees and other revenue      
Non-interest revenues      
Total non-interest revenues 5,129 5,005 4,521
Processed revenue      
Non-interest revenues      
Total non-interest revenues $ 1,636 $ 1,705 $ 1,637
[1] Represents net income less (i) earnings allocated to participating share awards of $76 million, $64 million and $57 million for the years ended December 31, 2024, 2023 and 2022, respectively, and (ii) dividends on preferred shares of $58 million, $58 million and $57 million for the years ended December 31, 2024, 2023 and 2022, respectively.
v3.25.0.1
Consolidated Statements of Income (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Earnings allocated to participating share awards $ 76 $ 64 $ 57
Dividends on preferred Stock $ 58 $ 58 $ 57
v3.25.0.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net income $ 10,129 $ 8,374 $ 7,514
Other comprehensive income (loss):      
Net unrealized debt securities gains (losses), net of tax 5 50 (87)
Foreign currency translation adjustments, net of hedges and tax (353) 51 (230)
Net unrealized pension and other postretirement benefits, net of tax 25 37 52
Other comprehensive income (loss) (323) 138 (265)
Comprehensive income $ 9,806 $ 8,512 $ 7,249
v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Cash and cash equivalents    
Cash and due from banks (includes restricted cash of consolidated variable interest entities: 2024, $6; 2023, nil) $ 3,413 $ 7,118
Interest-bearing deposits in other banks 37,006 39,312
Short-term investment securities (includes restricted investments of consolidated variable interest entities: 2024, $82; 2023, $66) 221 166
Total cash and cash equivalents (includes restricted cash: 2024, $427; 2023, $514) 40,640 46,596
Investment securities 1,240 2,186
Premises and equipment, less accumulated depreciation and amortization: 2024, $10,739; 2023, $9,911 5,371 5,138
Other assets, less reserves for credit losses: 2024, $27; 2023, $27 21,179 19,114
Total assets 271,461 261,108
Liabilities    
Customer deposits 139,413 129,144
Accounts payable 13,884 13,109
Short-term borrowings 1,374 1,293
Long-term debt (includes debt issued by consolidated variable interest entities: 2024, $13,880; 2023, $13,426) 49,715 47,866
Other liabilities 36,811 41,639
Total liabilities 241,197 233,051
Contingencies and Commitments (Note 12)
Shareholders’ Equity    
Preferred shares, $1.662/3 par value, authorized 20 million shares; issued and outstanding 1,600 shares as of December 31, 2024 and 2023 (Note 16) 0 0
Common shares, $0.20 par value, authorized 3.6 billion shares; issued and outstanding 702 million shares as of December 31, 2024 and 723 million shares as of December 31, 2023 141 145
Additional paid-in capital 11,370 11,372
Retained earnings 22,148 19,612
Accumulated other comprehensive income (loss) (3,395) (3,072)
Total shareholders’ equity 30,264 28,057
Total liabilities and shareholders’ equity 271,461 261,108
Card Member receivables    
Cash and cash equivalents    
Financing receivables, net 59,240 60,237
Card Member loans    
Cash and cash equivalents    
Financing receivables, net 133,995 120,877
Financing receivables held for sale 758 0
Other Loans    
Cash and cash equivalents    
Financing receivables, net $ 9,038 $ 6,960
v3.25.0.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Cash and cash equivalents    
Restricted cash $ 427 $ 514
Accumulated depreciation and amortization 10,739 9,911
Other assets, reserves for credit losses 27 27
Liabilities    
Long-term debt $ 49,715 $ 47,866
Shareholders’ Equity    
Preferred shares, par value (in dollars per share) $ 1.667 $ 1.667
Preferred shares, authorized (in shares) 20,000,000 20,000,000
Preferred shares, issued (in shares) 1,600 1,600
Preferred shares, outstanding (in shares) 1,600 1,600
Common shares, par value (in dollars per share) $ 0.20 $ 0.20
Common shares, authorized (in shares) 3,600,000,000 3,600,000,000
Common shares, issued (in shares) 702,000,000 723,000,000
Common shares, outstanding (in shares) 702,000,000 723,000,000
Card Member receivables    
Cash and cash equivalents    
Financing receivables, gross $ 59,411 $ 60,411
Allowance for credit losses 171 174
Card Member loans    
Cash and cash equivalents    
Financing receivables, gross 139,674 125,995
Allowance for credit losses 5,679 5,118
Other Loans    
Cash and cash equivalents    
Allowance for credit losses 194 126
Variable Interest Entity, Primary Beneficiary    
Cash and cash equivalents    
Restricted cash 6 0
Restricted investments 82 66
Liabilities    
Long-term debt 13,880 13,426
Variable Interest Entity, Primary Beneficiary | Card Member receivables    
Cash and cash equivalents    
Financing receivables, gross 3,927 4,587
Variable Interest Entity, Primary Beneficiary | Card Member loans    
Cash and cash equivalents    
Financing receivables, gross $ 28,278 $ 28,590
v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities      
Net income $ 10,129 $ 8,374 $ 7,514
Adjustments to reconcile net income to net cash provided by operating activities:      
Provisions for credit losses 5,185 4,923 2,182
Depreciation and amortization 1,676 1,651 1,626
Stock-based compensation 504 450 375
Deferred taxes (990) (1,329) (1,189)
Other items [1] (564) 664 365
Originations of loans held-for-sale 0 (54) (277)
Proceeds from sales of loans held-for-sale 0 59 277
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:      
Other assets 1,007 (1,244) 1,391
Accounts payable & other liabilities (2,897) 5,065 8,815
Net cash provided by operating activities 14,050 18,559 21,079
Cash Flows from Investing Activities      
Sale of investments 42 2 26
Maturities and redemptions of investments 2,179 3,888 1,892
Purchase of investments (1,593) (1,572) (4,175)
Net increase in loans and Card Member receivables, including Card Member loans held for sale [2],[3] (23,259) (25,124) (29,562)
Purchase of premises and equipment, net of sales: 2024, $6; 2023, $2; 2022, $1 (1,911) (1,563) (1,855)
Acquisitions, net of cash acquired (454) (64) (15)
Dispositions, net of cash disposed 594 0 0
Net cash used in investing activities (24,402) (24,433) (33,689)
Cash Flows from Financing Activities      
Net increase in customer deposits 10,305 18,915 25,902
Net (decrease) increase in short-term borrowings [3] 207 (105) (706)
Proceeds from long-term debt 12,602 15,674 23,230
Payments of long-term debt (10,759) (10,703) (18,906)
Issuance of American Express common shares 100 28 56
Repurchase of American Express common shares and other (6,020) (3,650) (3,502)
Dividends paid (1,999) (1,780) (1,565)
Net cash provided by financing activities 4,436 18,379 24,509
Effect of foreign currency exchange rates on cash and cash equivalents (40) 177 (13)
Net (decrease) increase in cash and cash equivalents (5,956) 12,682 11,886
Cash and cash equivalents at beginning of year 46,596 33,914 22,028
Cash and cash equivalents at end of year $ 40,640 $ 46,596 $ 33,914
[1] Primarily includes the gain recognized on the sale of Accertify (See Note 1), losses on tax credit investments, changes in reserves, net gains and losses on Amex Ventures investments, gains/losses on fair value hedges and changes in equity method investments.
[2] Includes Card Member loans held for sale (HFS) which were previously held for investment within Card Member loans and were reclassified on the Consolidated Balance Sheets effective December 1, 2024. Refer to Note 1 for additional information.
[3] Excludes an increase of $117 million related to non-cash activity during 2023.
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Consolidated Statements of Cash Flows (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Cash Flows [Abstract]      
Sale of premises and equipment $ 6 $ 2 $ 1
Increase in short-term borrowings, non-cash   117  
Increase in loans and Card Member receivables, including Card Member loans held for sale, non-cash   117  
Net income taxes paid 3,600 3,300 3,000
Interest paid $ 8,200 $ 6,400 $ 2,200
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Consolidated Statements of Shareholders' Equity - USD ($)
$ in Millions
Total
Series D Preferred Stock
Preferred Shares
Common Shares
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Retained Earnings
Series D Preferred Stock
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 7,514           7,514  
Other comprehensive income (loss) (265)         (265)    
Repurchase of common shares (3,332)     (4) (302)   (3,026)  
Other changes, including employee plans 242       300   (58)  
Cash dividends declared preferred   $ (57)           $ (57)
Cash dividends declared common (1,568)           (1,568)  
Ending Balance at Dec. 31, 2022 24,711   0 149 11,493 (3,210) 16,279  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 8,374           8,374  
Other comprehensive income (loss) 138         138    
Repurchase of common shares (3,519)     (4) (334)   (3,181)  
Other changes, including employee plans 181       213   (32)  
Cash dividends declared preferred   (58)           (58)
Cash dividends declared common (1,770)           (1,770)  
Ending Balance at Dec. 31, 2023 28,057   0 145 11,372 (3,072) 19,612  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 10,129           10,129  
Other comprehensive income (loss) (323)         (323)    
Repurchase of common shares (5,857)     (4) (377)   (5,476)  
Other changes, including employee plans 315       375   (60)  
Cash dividends declared preferred   $ (58)           $ (58)
Cash dividends declared common (1,999)           (1,999)  
Ending Balance at Dec. 31, 2024 $ 30,264   $ 0 $ 141 $ 11,370 $ (3,395) $ 22,148  
v3.25.0.1
Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Common stock, dividend per share (in dollars per share) $ 2.80 $ 2.40 $ 2.08
Series D Preferred Stock      
Preferred stock, dividend per share (in dollars per share) $ 36,288.88 $ 35,993.05 $ 35,993.05
v3.25.0.1
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 various products and services are offered globally to consumers, small businesses, mid-sized companies and large corporations through various channels, including mobile and online applications, affiliate marketing, customer referral programs, third-party service providers and business partners, in-house sales teams, direct mail, telephone and direct response advertising.
Refer to Note 24 for additional discussion of the products and services that comprise each segment. Corporate functions and certain other businesses and operations are included in Corporate & Other.
BUSINESS EVENTS
On May 1, 2024, we completed the previously announced transaction to sell fraud prevention solutions provider Accertify, Inc. (Accertify), a wholly owned subsidiary we acquired in 2010, the operations of which were reported within the Global Merchant and Network Services (GMNS) segment. The transaction resulted in a gain of $531 million ($479 million after tax), which was reported as a reduction to Other expense in the second quarter of 2024. Prior to the completion of the transaction, the carrying amount of Accertify’s net assets were not material to the Company’s financial position.
PRINCIPLES OF CONSOLIDATION
The Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). Significant intercompany transactions are eliminated.
We consolidate entities in which we hold a “controlling financial interest.” For voting interest entities, we are considered to hold a controlling financial interest when we are able to exercise control over the investees’ operating and financial decisions. For variable interest entities (VIEs), the determination of which is based on the amount and characteristics of the entity’s equity, we are considered to hold a controlling financial interest when we are determined to be the primary beneficiary. A primary beneficiary is the party that has both: (1) the power to direct the activities that most significantly impact that VIE’s economic performance, and (2) the obligation to absorb the losses of, or the right to receive the benefits from, the VIE that could potentially be significant to that VIE.
Entities in which our voting interest in common equity does not provide it with control, but allows us to exert significant influence over operating and financial decisions, are accounted for under the equity method. We also have investments in equity securities where our voting interest is below the level of significant influence, including investments that we make in non-public companies in the ordinary course of business. Such investments are initially recorded at cost and adjusted to fair value through earnings for observable price changes in orderly transactions for identical or similar instruments of the same company or if they are determined to be impaired. See Note 4 for the accounting policy for our marketable equity securities.
FOREIGN CURRENCY
Transactions conducted in currencies other than the applicable functional currency of an entity are converted to the functional currency at the exchange rate on the transaction date. At the period end, monetary assets and liabilities are remeasured to the functional currency using period end rates. The resulting transaction gains and losses are recorded in Other, net expenses in the Consolidated Statements of Income.
For subsidiaries where the functional currency is not the U.S. dollar, the monetary assets and liabilities and results of operations are translated for consolidation purposes into U.S. dollars at period-end rates for monetary assets and liabilities and generally at average rates for results of operations. The resulting translation adjustments, along with any related qualifying hedge and tax effects, are included in accumulated other comprehensive income (loss) (AOCI), a component of shareholders’ equity. Translation adjustments, including qualifying hedge and tax effects, are reclassified to earnings upon the sale or substantial liquidation of investments in foreign operations.
AMOUNTS BASED ON ESTIMATES AND ASSUMPTIONS
Accounting estimates are an integral part of the Consolidated Financial Statements. These estimates are based, in part, on management’s assumptions concerning future events. Among the more significant assumptions are those that relate to reserves for Card Member credit losses on loans and receivables, Membership Rewards liability, goodwill and income taxes. These accounting estimates reflect the best judgment of management, but actual results could differ.
INCOME STATEMENT
Revenue is recognized when obligations under the terms of a contract with our customers are satisfied. We have elected to not disclose revenue that is expected to be recognized in future periods related to contracts with variable consideration (e.g., discount revenue). Non-interest revenue expected to be recognized in future periods related to all other contracts with customers is not material.
Payments made pursuant to contractual arrangements with our merchants, network partners and other customers are classified as contra-revenue, except where we receive goods, services or other benefits for which the fair value is determinable and measurable, in which case they are recorded as expense.
Discount Revenue
Discount revenue primarily represents the amount we earn and retain from the merchant payable for facilitating transactions between Card Members and merchants on payment products issued by American Express. The amount of fees charged for accepting our cards as payment, or merchant discount, varies with, among other factors, the industry in which the merchant conducts business, the merchant’s overall American Express-related transaction volume, the method of payment, the settlement terms with the merchant, the method of submission of transactions and, in certain instances, the geographic scope of the card acceptance agreement between the merchant and us (e.g., local or global) and the transaction amount. Discount revenue is generally recorded at the time the Card Member transaction occurs.
Card acceptance agreements, which include the agreed-upon terms for charging the merchant discount fee, vary in duration. Our contracts with small- and mid-sized merchants generally have no fixed contractual duration, while those with large merchants are generally for fixed periods, which typically range from three to seven years in duration. Our fixed-period agreements may include auto-renewal features, which may allow the existing terms to continue beyond the stated expiration date until a new agreement is reached. We satisfy our obligations under these agreements over the contract term, often on a daily basis, including through the processing of Card Member transactions and the availability of our payment network.
In cases where the merchant acquirer is a third party, we receive a network rate fee in our settlement with the merchant acquirer, which is negotiated between us and that merchant acquirer and is recorded as discount revenue at the time the Card Member transaction occurs.
Net Card Fees
Net card fees represent revenue earned from annual card membership fees, which vary based on the type of card and the number of cards for each account. These fees, net of qualifying acquisition costs and a reserve for projected refunds for Card Member cancellations, are deferred and recognized on a straight-line basis over the twelve-month card membership period as Net card fees in the Consolidated Statements of Income and are therefore more stable in relation to short term business or economic shifts. The unamortized net card fee balance is reported in Other liabilities on the Consolidated Balance Sheets.
Service Fees and Other Revenue
Service fees and other revenue includes service fees earned from merchants and other customers and travel commissions and fees, which are generally recognized in the period when the service is performed, and delinquency and foreign currency-related fees, which are primarily recognized in the period when they are charged to the Card Member. In addition, Service fees and other revenue includes income (losses) from our investments in which we have significant influence and therefore account for under the equity method. Refer to Note 18 for additional information.
Processed Revenue
Processed revenue primarily represents revenues related to network partnership agreements, comprising royalties, fees and amounts earned for facilitating transactions on cards issued by network partners. In our role as the operator of the American Express network, we settle with merchants and our third-party merchant acquirers on behalf of our network card issuing partners. The amount of fees charged for accepting American Express-branded cards is generally deducted from the payment to the merchant or third-party merchant acquirer and recorded as Processed revenue at the time the Card Member transaction occurs. Our network card issuing partners receive an issuer rate that is individually negotiated between that issuer and us and is recorded as contra-revenue within Processed revenue to the extent that there is revenue from the same customer, after which any additional issuer rate is recorded as expense in Business development.
Interest Income
Interest on Card Member loans is assessed using the average daily balance method. Unless the loan is classified as non-accrual, interest is recognized based upon the principal amount outstanding, in accordance with the terms of the applicable account agreement, until the outstanding balance is paid, or written off.
Interest and dividends on investment securities primarily relate to our performing fixed-income securities. Interest income is recognized as earned using the effective interest method, which adjusts the yield for security premiums and discounts, fees and other payments, so that a constant rate of return is recognized on the investment security’s outstanding balance. Amounts are recognized until securities are in default or when it becomes likely that future interest payments will not be made as scheduled.
Interest on deposits with banks and other is recognized as earned, and primarily relates to the placement of cash, in excess of near-term funding requirements, in interest-bearing time deposits, overnight sweep accounts, and other interest-bearing demand and call accounts.
Interest Expense
Interest expense includes interest incurred primarily to fund Card Member loans and receivables, general corporate purposes and liquidity needs, and is recognized as incurred. Interest expense is divided principally into two categories: (i) deposits, which primarily relates to interest expense on deposits taken from customers and institutions and (ii) debt, which primarily relates to interest expense on our long-term debt and short-term borrowings, as well as the realized impact of derivatives used to hedge interest rate risk on our long-term debt.
Card Member Rewards
We issue credit, charge and debit cards that allow Card Members to participate in various rewards programs (e.g., Membership Rewards, cash back and cobrand). Rewards expense is recognized in the period Card Members earn rewards, generally by spending on their enrolled card products. For Membership Rewards and cash back, we record a liability that represents the rewards that are expected to be redeemed, as well as, for Membership Rewards, the estimated cost of points earned. For cobrand, we record a liability based primarily on rewards earned on Card Member spending on cobrand cards, and make associated payments to our cobrand partners. The partner is liable for providing rewards to the Card Member under the cobrand partner’s own loyalty program. Card Member rewards liabilities are impacted over time by enrollment levels, attrition, the volume of points earned and redeemed, and the associated redemption costs. Changes in the Card Member rewards liabilities during the period are recorded as an increase or decrease to the Card Member rewards expense in the Consolidated Statements of Income.
Business Development
Business development expense includes payments to our cobrand partners, corporate client incentive payments earned on achievement of pre-set targets and certain payments to network partners. These costs are generally expensed as incurred.
Card Member Services
Card Member services expense represents costs incurred in providing our Card Members with various value-added benefits and services, which are generally expensed as incurred.
Marketing
Marketing expense includes the cost of promotional activities to attract, engage and retain customers. Customer acquisition activities include initiatives such as welcome offers, where bonus points or statement credits are issued for the purpose of incentivizing Card Members to apply for a new product and are awarded either on acquisition or upon the Card Member achieving specified spend volume within a stipulated time period, as well as affiliate marketing, direct mail campaigns and telemarketing. In addition, Marketing also includes agency services (such as marketing research, strategy consulting, creative production and placement), sponsorship programs, promotional events, distribution of branded materials and advertising via digital, television, radio and print media.
Marketing expenses incurred in the development and initial placement of advertising are expensed in the period in which the advertising first takes place. All other marketing expenses are generally expensed as incurred.
BALANCE SHEET
Cash and Cash Equivalents
Cash and cash equivalents include cash and amounts due from banks, interest-bearing bank balances, including securities purchased under resale agreements, restricted cash, and other highly liquid investments with original maturities of 90 days or less. Restricted cash primarily represents amounts related to Card Member credit balances as well as upcoming debt maturities of consolidated VIEs.
Card Member Loans HFS
When we decide to sell Card Member loans, they are reclassified on the Consolidated Balance Sheets as Card Member loans held for sale and measured at the lower of amortized cost or fair value (LOCOM). Refer to Note 14 for additional information regarding the valuation methodology for Card Member loans HFS. At the time of HFS reclassification, we first write-off amounts in accordance with our policy and then reverse any remaining reserves for credit losses associated with the HFS loans, the net impact of which is recognized within Provisions for credit losses in the Consolidated Statements of Income. HFS loans will continue to be remeasured at LOCOM until they are sold, with any changes in valuation recognized in Other, net in the Consolidated Statements of Income. We will continue to recognize discount revenue, interest income and other revenues and expenses related to the HFS loans until they are sold.
Effective December 1, 2024, we reclassified $758 million of Card Member loans related to the Lowe’s small business cobrand portfolio to Card Member loans held for sale on the Consolidated Balance Sheets and reversed $49 million of associated reserves for credit losses.
Goodwill
Goodwill represents the excess of the acquisition cost of an acquired business over the fair value of assets acquired and liabilities assumed. We allocate goodwill to our reporting units for the purpose of impairment testing. A reporting unit is defined as an operating segment, or a business that is one level below an operating segment, for which discrete financial information is regularly reviewed by the operating segment manager.
We evaluate goodwill for impairment annually as of November 1, or more frequently if events occur or circumstances change that would more likely than not reduce the fair value of one or more of our reporting units below its carrying value. Prior to completing the annual assessment of goodwill for impairment, we perform a recoverability test of certain long-lived assets.
We have the option to perform a qualitative assessment of goodwill impairment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Alternatively, we can perform a more detailed quantitative assessment of goodwill impairment.
This qualitative assessment entails the evaluation of factors such as economic conditions, industry and market considerations, cost factors, overall financial performance of the reporting unit and other company and reporting unit-specific events. If we determine that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we then perform the impairment evaluation using the quantitative assessment.
The quantitative assessment compares the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount exceeds the reporting unit’s fair value, an impairment loss is recognized for the amount over and above the reporting unit’s fair value.
When measuring the fair value of our reporting units in the quantitative assessment, we use widely accepted valuation techniques, applying a combination of the income approach (discounted cash flows) and market approach (market multiples). When preparing discounted cash flow models under the income approach, we use internal forecasts to estimate future cash flows expected to be generated by the reporting units. To discount these cash flows, we use the expected cost of equity, determined by using a capital asset pricing model. We believe the discount rates appropriately reflect the risks and uncertainties in the financial markets generally and specifically in our internally-developed forecasts. When using market multiples under the market approach, we apply comparable publicly traded companies’ multiples (e.g., earnings or revenues) to our reporting units’ operating results.
For the years ended December 31, 2024 and 2023, we performed assessments for each reporting unit in connection with our annual goodwill impairment evaluation and determined that it was more likely than not that the fair values of each of our reporting units exceeded their carrying values and accordingly no impairment was recognized.
Premises and Equipment
Premises and equipment, including leasehold improvements, are carried at cost less accumulated depreciation. Costs incurred during construction are capitalized and are depreciated once an asset is placed in service. Depreciation is generally computed using the straight-line method over the estimated useful lives of the assets, which range from 3 to 10 years for equipment, furniture and building improvements, and from 40 to 50 years for premises, which are depreciated based upon their estimated useful life at the acquisition date.
Certain costs associated with the acquisition or development of internal-use software are also capitalized and recorded in Premises and equipment. Once the specific software feature is ready for its intended use, these costs are amortized on a straight-line basis over the software’s estimated useful life, generally 5 years. We review these assets for impairment using the same impairment methodology used for our intangible assets.
Leasehold improvements are depreciated using the straight-line method over the lesser of the remaining term of the leased facility, or the economic life of the improvement, and range from 5 to 10 years. We recognize lease restoration obligations at the fair value of the restoration liabilities when incurred and amortize the restoration assets over the lease term.
Leases
We have operating leases worldwide for facilities, primarily office locations and airport lounges, and equipment, which, for those leases with terms greater than 12 months, are recorded as lease-related assets and liabilities. We do not separate lease and non-lease components. Lease-related assets, or right-of-use assets, are recognized at the lease commencement date at amounts equal to the respective lease liabilities, adjusted for prepaid lease payments, initial direct costs and lease incentives. Lease liabilities are recognized at the present value of the contractual fixed lease payments, discounted using our incremental borrowing rate as of the lease commencement date or upon modification of the lease. Operating lease expense is recognized on a straight-line basis over the lease term, while variable lease payments are expensed as incurred.
OTHER SIGNIFICANT ACCOUNTING POLICIES
The following table identifies our other significant accounting policies, along with the related Note:
TABLE 1.1: OTHER SIGNIFICANT ACCOUNTING POLICIES
Significant Accounting PolicyNote
Number		Note Title
Loans and Card Member ReceivablesNote 2Loans and Card Member Receivables
Reserves for Credit LossesNote 3Reserves for Credit Losses
Investment SecuritiesNote 4Investment Securities
Asset SecuritizationsNote 5Asset Securitizations
Stock-Based Compensation
Note 10
Stock-Based Compensation
Legal ContingenciesNote 12Contingencies and Commitments
Derivative Financial Instruments and Hedging ActivitiesNote 13Derivatives and Hedging Activities
Fair Value MeasurementsNote 14Fair Values
GuaranteesNote 15Guarantees
Income TaxesNote 20Income Taxes
Earnings Per Common Share
Note 21
Earnings Per Common Share
CLASSIFICATION OF VARIOUS ITEMS
Certain reclassifications of prior period amounts have been made to conform to the current period presentation.
RECENTLY ADOPTED AND ISSUED ACCOUNTING STANDARDS
In November 2023, the Financial Accounting Standards Board issued updated accounting guidance for segment reporting, effective for annual reporting periods beginning after December 15, 2023 and for interim reporting periods beginning January 1, 2025. The updated guidance requires enhanced disclosures for significant expenses by reportable operating segment. Significant expense categories and amounts are those regularly provided to the chief operating decision maker (CODM) and included in the measure of a segment’s profit or loss. The updated guidance also requires us to disclose the title and position of our CODM, including an explanation of how our CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. We adopted the updated guidance for the annual reporting period beginning January 1, 2024, which did not result in a material impact to our Consolidated Financial Statements. Refer to Note 24 for related disclosures about our reportable operating segments.
In December 2023, the Financial Accounting Standards Board issued updated accounting guidance on Disclosures for Income Taxes, effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted. The updated guidance requires additional disclosure and disaggregated information in the Income Tax Rate reconciliation using both percentages and reporting currency amounts, with additional qualitative explanations of individually significant reconciling items. The updated guidance also requires disclosure of the amount of income taxes paid (net of refunds received) disaggregated by jurisdictional categories (federal (national), state and foreign). We are currently assessing the updated guidance, however it is not expected to have a material impact to our Consolidated Financial Statements.
v3.25.0.1
Loans and Card Member Receivables
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Loans and Card Member Receivables
LOANS AND CARD MEMBER RECEIVABLES
Our lending and charge payment card products that we offer to consumer, small business and corporate customers result in the generation of Card Member loans and Card Member receivables. We also extend credit to customers through financing products that are not associated with a Card Member agreement, and instead are governed by a separate borrowing relationship, resulting in Other loans.
CARD MEMBER AND OTHER LOANS
Card Member loans are generally recorded at the time a Card Member enters into a point-of-sale transaction with a merchant and represent revolve-eligible balances on our card products, as well as any finance charges and associated card-related fees. Card Members with outstanding revolving loans are required to make a minimum monthly payment, and the balances that Card Members choose to revolve are subject to finance charges. These loans have varying terms such as credit limits, interest rates, fees and payment structures, which can be revised over time based on new information about Card Members and in accordance with applicable regulations and the respective product’s terms and conditions.
Card Member loans are presented on the Consolidated Balance Sheets net of reserves for credit losses (refer to Note 3), and include principal and any related accrued interest and fees. Our policy generally is to cease accruing interest on a Card Member loan at the time the account is written off, and establish reserves for interest that we believe will not be collected.
Other loans are recorded at the time any extension of credit is provided to consumer and commercial customers for financing products not associated with a Card Member agreement, such as consumer installment loans and lines of credit offered to small business customers. These loans have a range of fixed and variable terms such as interest rates, fees and repayment periods. Borrowers are typically required to make pre-established monthly payments over the term of the loan. Other loans are presented on the Consolidated Balance Sheets net of reserves for credit losses and include principal and any related accrued interest and fees.
Card Member and Other loans as of December 31, 2024 and 2023 consisted of:
TABLE 2.1: CARD MEMBER AND OTHER LOANS
(Millions)20242023
Consumer (a)
$107,646 $98,111 
Small Business31,991 27,833 
Corporate37 51 
Card Member loans139,674 125,995 
Less: Reserves for credit losses5,679 5,118 
Card Member loans, net$133,995 $120,877 
Other loans, net (b)
$9,038 $6,960 
(a)Includes approximately $28.3 billion and $28.6 billion of gross Card Member loans available to settle obligations of a consolidated VIE as of December 31, 2024 and 2023, respectively.
(b)Other loans are presented net of reserves for credit losses of $194 million and $126 million as of December 31, 2024 and 2023, respectively.
CARD MEMBER RECEIVABLES
Card Member receivables are recorded at the time a Card Member enters into a point-of-sale transaction with a merchant and represent balances due on our card products and card-related fees that need to be paid in full on or before the Card Member’s payment due date.
Charge Card Members generally must pay the full amount billed each month. Card Member receivable balances are presented on the Consolidated Balance Sheets net of reserves for credit losses (refer to Note 3), and include principal and any related accrued fees.
Card Member receivables as of December 31, 2024 and 2023 consisted of:
TABLE 2.2: CARD MEMBER RECEIVABLES
(Millions)20242023
Consumer$25,431 $25,578 
Small Business18,619 19,286 
Corporate(a)
15,361 15,547 
Card Member receivables59,411 60,411 
Less: Reserves for credit losses171 174 
Card Member receivables, net$59,240 $60,237 
(a)Includes $3.9 billion and $4.6 billion of gross Card Member receivables available to settle obligations of a consolidated VIE as of December 31, 2024 and 2023, respectively.
CARD MEMBER LOANS AND RECEIVABLES AGING
Generally, a Card Member account is considered past due if payment due is not received within 30 days after the billing statement date. The following tables present the aging of Card Member loans and receivables as of December 31, 2024 and 2023:
TABLE 2.3: CARD MEMBER LOANS AND RECEIVABLES AGING
2024 (Millions)
Current30-59
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$106,155 $437 $329 $725 $107,646 $435 $464 
Small Business31,510 151 107 223 31,991 132 135 
Corporate (a)
(b)(b)(b)— 37 — — 
Card Member Receivables:
Consumer$25,255 $58 $39 $79 $25,431 $— $— 
Small Business18,400 77 54 88 18,619 — — 
Corporate (a)
(b)(b)(b)65 15,361 — — 
2023 (Millions)
Current30-59
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$96,779 $420 $298 $614 $98,111 $393 $344 
Small Business27,444 133 85 171 27,833 109 95 
Corporate (a)
(b)(b)(b)— 51 — — 
Card Member Receivables:
Consumer$25,355 $70 $47 $106 $25,578 $— $— 
Small Business19,020 104 62 100 19,286 — — 
Corporate (a)
(b)(b)(b)67 15,547 — — 
(a)For corporate accounts, delinquency data is tracked based on days past billing status rather than days past due. A Card Member account is considered 90 days past billing if payment has not been received within 90 days of the Card Member’s billing statement date. In addition, if we initiate collection procedures on an account prior to the account becoming 90 days past billing, the associated Card Member loan or receivable balance is classified as 90 days past billing. These amounts are shown above as 90+ Days Past Due for presentation purposes. See also (b).
(b)Delinquency data for periods other than 90+ days past billing has not historically been available due to system constraints. Therefore, such data has not been a material input for risk management purposes. The balances that are current to 89 days past billing can be derived as the difference between the Total and the 90+ Days Past Due balances.
(c)Our policy is generally to accrue interest through the date of write-off (typically 180 days past due). We establish reserves for interest that we believe will not be collected.
(d)Non-accrual loans primarily include certain loans placed with outside collection agencies for which we have ceased accruing interest.
CREDIT QUALITY INDICATORS FOR CARD MEMBER LOANS AND RECEIVABLES
The following table presents the key credit quality indicators as of or for the years ended December 31:
TABLE 2.4: CREDIT QUALITY INDICATORS FOR CARD MEMBER LOANS AND RECEIVABLES
20242023
Net Write-Off RateNet 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:
Consumer2.2 %2.7 %1.4 %1.8 %2.2 %1.4 %
Small Business2.3 %2.6 %1.5 %1.7 %1.9 %1.4 %
Card Member Receivables:
Consumer1.2 %1.3 %0.7 %1.5 %1.6 %0.9 %
Small Business1.9 %2.0 %1.2 %2.2 %2.4 %1.4 %
Corporate
(b)0.6 %(c)(b)0.6 %(c)
(a)We present a net write-off rate based on principal losses only (i.e., excluding interest and/or fees) to be consistent with industry convention. In addition, as our practice is to include uncollectible interest and/or fees as part of our total provision for credit losses, a net write-off rate including principal, interest and/or fees is also presented.
(b)Net write-off rate based on principal losses only is not available due to system constraints.
(c)For corporate receivables, delinquency data is tracked based on days past billing status rather than days past due. Delinquency data for periods other than 90+ days past billing is not available due to system constraints. 90+ days past billing as a % of total was 0.4% as of both December 31, 2024 and 2023.
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 the new guidance that eliminated the recognition and measurement of troubled debt restructurings (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 December 31, 2024, we had $82 million of unused credit available to customers with loans and receivables modified during the year ended December 31, 2024. In accordance with the modification agreement with the customer, loans and/or receivables may revert to the original contractual terms (including the contractual interest rate where applicable) when the customer exits the modification program, which is either (i) when all payments have been made in accordance with the modification agreement or (ii) when the customer defaults out of the modification program.
The following tables provide information relating to loans and receivables modifications for borrowers experiencing financial difficulty during the years ended December 31, 2024 and 2023:
TABLE 2.5: LOANS AND RECEIVABLES MODIFICATIONS FOR BORROWERS EXPERIENCING FINANCIAL DIFFICULTY
Year Ended December 31, 2024
2024 (Millions)
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$1,770 1.6 %18.3 %(b)
Small Business646 2.0 %17.5 %(b)
Corporate— — — (b)
Term Extension
Card Member Receivables
Consumer256 1.0 %(c)30
Small Business401 2.2 %(c)30
Corporate13 0.1 %(c)9
Other Loans30 0.3 %— 18
Interest Rate Reduction
and Term Extension
Other Loans56 0.6 %2.6 %20
Total$3,172 
Year Ended December 31, 2023
2023 (Millions)
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$1,572 1.6 %16.4 %(b)
Small Business550 2.0 %15.9 %(b)
Corporate— — — (b)
Term Extension
Card Member Receivables
Consumer346 1.4 %(c)27
Small Business543 2.8 %(c)28
Corporate13 0.1 %(c)9
Other Loans23 0.3 %— 18
Interest Rate Reduction
and Term Extension
Other Loans42 0.6 %2.1 %20
Total$3,089 
(a)Represents the outstanding balances as of December 31, 2024 and 2023, respectively, of all modifications undertaken in the current and preceding year for loans and receivables that remain in modification programs as of, or that defaulted on or before, December 31, 2024 and 2023, respectively. The outstanding balances include principal, fees and accrued interest on loans and principal and fees on receivables. Modifications did not reduce the principal balance.
(b)For Card Member loans, we generally do not offer payment term extensions.
(c)We do not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing.
The following tables provide information with respect to loans and receivables modified on or after January 1, 2023 that defaulted in the periods presented and were modified in the twelve months prior to the payment default. A customer can miss up to three payments before being considered in default, depending on the terms of the modification program.
TABLE 2.6: MODIFIED LOANS AND RECEIVABLES THAT DEFAULTED WITHIN TWELVE MONTHS OF MODIFICATION
Year Ended December 31, 2024
Account Balance (Millions) (a)
Interest Rate Reduction
Term ExtensionInterest Rate Reduction and Term ExtensionTotal
Card Member Loans
Consumer$88 (b)$—$88 
Small Business40 (b)—40 
Corporate— (b)—— 
Card Member Receivables
Consumer(c)$10 — 10 
Small Business(c)17 — 17 
Corporate(c)— — — 
Other Loans— — 2 2 
Total$128 $27 $2 $157 
Year Ended December 31, 2023
Account Balance (Millions) (a)
Interest Rate Reduction
Term ExtensionInterest Rate Reduction and Term ExtensionTotal
Card Member Loans
Consumer$53 (b)$—$53 
Small Business20 (b)—20 
Corporate— (b)—— 
Card Member Receivables
Consumer(c)$9 — 9 
Small Business(c)14 — 14 
Corporate(c)— — — 
Other Loans— — 1 1 
Total$73 $23 $1 $97 
(a)Represents the outstanding balances as of December 31, 2024 and 2023, respectively, of all modifications undertaken on or after January 1, 2023 that defaulted in the periods presented and were modified in the twelve months prior to payment default. The outstanding balances include principal, fees and accrued interest on loans and principal and fees on receivables.
(b)For Card Member loans, we generally do not offer payment term extensions.
(c)We do not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing.
The following tables provide information relating to the performance of loans and receivables that were modified during the years ended December 31, 2024 and 2023 and that remain in modification programs as of, or that defaulted on or before, December 31, 2024 and 2023, respectively:
TABLE 2.7: PERFORMANCE OF MODIFIED LOANS AND RECEIVABLES
As of December 31, 2024
Account Balances (Millions) (a)
Current
30-89 Days Past Due
90+ Days Past Due
Card Member Loans
Consumer$1,615 $110 $45 
Small Business568 56 22 
Corporate— — — 
Card Member Receivables:
Consumer234 16 6 
Small Business357 31 13 
Corporate10 2 1 
Other Loans79 5 2 
Total$2,863 $220 $89 
As of December 31, 2023
Account Balances (Millions) (a)
Current
30-89 Days Past Due
90+ Days Past Due
Card Member Loans
Consumer$1,433 $103 $36 
Small Business489 45 16 
Corporate— — — 
Card Member Receivables:
Consumer314 25 7 
Small Business479 52 12 
Corporate11 2 — 
Other Loans59 4 2 
Total$2,785 $231 $73 
(a)The outstanding balances include principal, fees and accrued interest on loans and principal and fees on receivables.
TROUBLED DEBT RESTRUCTURING DISCLOSURES PRIOR TO ADOPTION OF THE NEW LOAN MODIFICATION GUIDANCE
Prior to adoption of the new loan modification guidance, 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 adoption will continue to be accounted for under the historical TDR accounting until the loan is entirely paid off or written off. As of December 31, 2024, there are no remaining loans which are accounted for under the historical TDR accounting.
The following table provides additional information with respect to our impaired loans and receivables as of December 31, 2022:
TABLE 2.8: IMPAIRED LOANS AND RECEIVABLES
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$252 $155 $781 $1,098 $2,286 $335 
Small Business54 34 267 380 735 108 
Corporate— — — — — — 
Card Member Receivables
Consumer— — 257 179 436 20 
Small Business— — 403 402 805 40 
Corporate— — 6 7 13 1 
Other Loans3 2 19 2 26 — 
Total$309 $191 $1,733 $2,068 $4,301 $504 
(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 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 ADOPTION OF THE NEW LOAN MODIFICATION GUIDANCE
The following table provides additional information with respect to loans and receivables that were modified as TDRs during the year ended December 31, 2022:
TABLE 2.9: LOANS AND RECEIVABLES MODIFIED AS TDRs
2022
Number of
Accounts (Thousands)
Account
Balances (Millions) (a)
Average Interest Rate Reduction (% points)
Average Payment Term Extensions
(# of months)
Troubled Debt Restructurings:
Card Member Loans149 $1,002 14 %(b)
Card Member Receivables27 900 (c)20
Other Loans (d)
4 8 2 %17
Total180 $1,910 
(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.
(d)Other loans primarily represent consumer installment loans and lines of credit offered to small business customers.
LOANS AND RECEIVABLES MODIFIED AS TDRs AND SUBSEQUENTLY DEFAULTED PRIOR TO ADOPTION OF THE NEW LOAN MODIFICATION GUIDANCE
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.
TABLE 2.10: LOANS AND RECEIVABLES MODIFIED AS TDRs THAT DEFAULTED WITHIN TWELVE MONTHS OF MODIFICATION
2022
Number of Accounts
(Thousands)
Aggregated
Outstanding Balances
Upon Default
(Millions) (a)
Troubled Debt Restructurings That Subsequently Defaulted:
Card Member Loans14 $81 
Card Member Receivables3 38 
Other Loans (b)
1 1 
Total18 $120 
(a)The outstanding balances upon default include principal, fees and accrued interest on loans, and principal and fees on receivables.
(b)Other loans primarily represent consumer installment loans and lines of credit offered to small business customers.
v3.25.0.1
Reserves for Credit Losses
 12 Months Ended
Dec. 31, 2024
Credit Loss [Abstract]  
Reserves for Credit Losses
RESERVES FOR CREDIT LOSSES
Reserves for credit losses represent our best estimate of the expected credit losses in our outstanding portfolio of Card Member loans and receivables as of the balance sheet date. The 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.
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:
TABLE 3.1: KEY MACROECONOMIC VARIABLES
U.S. Unemployment Rate
U.S. GDP Growth (Contraction) (a)
December 31, 2024December 31, 2023December 31, 2024December 31, 2023
Fourth quarter of 2024
4%
3% - 8%
2%
3% - 1%
First quarter of 2025
4% - 6%
3% - 8%
4% - (3)%
2% - 1%
Fourth quarter of 2025
3% - 8%
3% - 7%
3% - 1%
2%
Fourth quarter of 2026
3% - 7%
3% - 6%
2%
3% - 2%
(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 year ended December 31, 2024, primarily driven by an increase in loans outstanding.
Card Member loans reserve for credit losses increased for the year ended December 31, 2023, primarily driven by an increase in loans outstanding and higher delinquencies.
The following table presents changes in the Card Member loans reserve for credit losses for the years ended December 31:
TABLE 3.2: CHANGES IN CARD MEMBER LOANS RESERVE FOR CREDIT LOSSES
(Millions)202420232022
Beginning Balance$5,118 $3,747 $3,305 
Provisions(a)
4,109 3,839 1,514 
Net write-offs (b)
Principal(2,894)(2,043)(837)
Interest and fees(621)(443)(229)
Other(c)
(33)18 (6)
Ending Balance$5,679 $5,118 $3,747 
(a)Provisions for principal, interest and fee reserve components. Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. In addition, provisions for the year ended December 31, 2024 includes the reserve release of $49 million upon the reclassification of Card Member loans related to the Lowe’s small business cobrand portfolio as HFS in the fourth quarter of 2024. See Note 1 for additional information.
(b)Principal write-offs are presented less recoveries of $730 million, $537 million and $539 million for the years ended December 31, 2024, 2023 and 2022, respectively. Recoveries of interest and fees were not significant.
(c)Primarily includes foreign currency translation adjustments of $(33) million, $18 million and $(6) million for the years ended December 31, 2024, 2023 and 2022, respectively.
CHANGES IN CARD MEMBER RECEIVABLES RESERVE FOR CREDIT LOSSES
Card Member receivables reserve for credit losses remained relatively flat for the year ended December 31, 2024.
Card Member receivables reserve for credit losses decreased for the year ended December 31, 2023, primarily driven by lower delinquencies, partially offset by an increase in receivables outstanding.
The following table presents changes in the Card Member receivables reserve for credit losses for the years ended December 31:
TABLE 3.3: CHANGES IN CARD MEMBER RECEIVABLES RESERVE FOR CREDIT LOSSES
(Millions)202420232022
Beginning Balance$174 $229 $64 
Provisions (a)
774 880 627 
Net write-offs (b)
(773)(937)(462)
Other (c)
(4)2 — 
Ending Balance$171 $174 $229 
(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 $304 million, $297 million and $257 million for the years ended December 31, 2024, 2023 and 2022, respectively.
(c)Primarily includes foreign currency translation adjustments of $(4) million, $1 million and $2 million for the years ended December 31, 2024, 2023 and 2022, respectively.
v3.25.0.1
Investment Securities
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Investment Securities
INVESTMENT SECURITIES
Investment securities principally include available-for-sale (AFS) debt securities carried at fair value on the Consolidated Balance Sheets. The methodology for estimating credit losses for AFS debt securities requires us to estimate lifetime credit losses for all AFS debt securities in an unrealized loss position. When estimating a security’s probability of default and the recovery rate, we assess the security’s credit indicators, including credit ratings. If our assessment indicates that an estimated credit loss exists, we determine the portion of the unrealized loss attributable to credit deterioration and record a reserve for the estimated credit loss through the Consolidated Statements of Income in Other loans Provision for credit losses. Unrealized gains and any portion of a security’s unrealized loss attributable to non-credit losses are recorded in the Consolidated Statements of Comprehensive Income, net of tax. We had accrued interest on our AFS debt securities totaling $3 million and $5 million as of December 31, 2024 and 2023, 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.
Refer to Note 14 for a description of our methodology for determining the fair value of investment securities.
The following is a summary of investment securities as of December 31:
TABLE 4.1: INVESTMENT SECURITIES
20242023
Description of Securities (Millions)
CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value		CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
Available-for-sale debt securities:
State and municipal obligations$57 $1 $(9)$49 $61 $— $(6)$55 
U.S. Government agency obligations4 — — 4 4 — — 4 
U.S. Government treasury obligations289 — (2)287 1,217 1 (12)1,206 
Mortgage-backed securities (a)
11 — (1)10 12 — (1)11 
Foreign government bonds and obligations765 — — 765 770 — — 770 
Other (b)
77 — — 77 74 — — 74 
Equity securities (c)(d)
53 4 (9)48 60 16 (10)66 
Total$1,256 $5 $(21)$1,240 $2,198 $17 $(29)$2,186 
(a)Represents mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae.
(b)Represents investments in debt securities issued by Community Development Financial Institutions.
(c)Equity securities comprise investments in common stock and mutual funds.
(d)During 2024, an equity investment transferred from Other assets to Investment securities following the completion of an initial public offering by the issuer of the securities. The investment had a fair value of $7 million with an associated cost of $3 million as of December 31, 2024.
The following table provides information about our AFS debt securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2024 and 2023:
TABLE 4.2: AFS DEBT SECURITIES WITH GROSS UNREALIZED LOSSES BY DURATION
20242023
Less than 12 months12 months or moreLess than 12 months12 months or more
Description of Securities (Millions)
Estimated
Fair Value		Gross Unrealized
Losses		Estimated
Fair Value		Gross Unrealized
Losses		Estimated
Fair Value		Gross Unrealized
Losses		Estimated
Fair Value		Gross Unrealized
Losses
State and municipal obligations$— $— $22 $(9)$— $— $33 $(6)
U.S. Government treasury obligations— — 123 (2)— — 1,114 (12)
Mortgage-backed securities
— — 7 (1)— — 7 (1)
Total$— $— $152 $(12)$— $— $1,154 $(19)
The gross unrealized losses on our AFS debt securities are primarily attributable to an increase in the current benchmark interest rate. Overall, for the AFS debt securities in gross unrealized loss positions, (i) we do not intend to sell the securities, (ii) it is more likely than not that we will not be required to sell the securities before recovery of the unrealized losses and (iii) we expect that the contractual principal and interest will be received on the securities. We concluded that there was no credit loss attributable to the securities in an unrealized loss position for the periods presented.
The following table summarizes the gross unrealized losses for AFS debt securities by ratio of fair value to amortized cost as of December 31, 2024 and 2023:
TABLE 4.3: AFS GROSS UNREALIZED LOSSES BY RATIO OF FAIR VALUE TO AMORTIZED COST
Less than 12 months12 months or moreTotal
Ratio of Fair Value to
Amortized Cost (Dollars in millions)
Number of
Securities		Estimated
Fair Value		Gross
Unrealized
Losses		Number of
Securities		Estimated
Fair Value		Gross
Unrealized
Losses		Number of
Securities		Estimated
Fair Value		Gross
Unrealized
Losses
2024:
90%–100%—$— $— 30$129 $(3)30$129 $(3)
Less than 90%—— — 1523 (9)1523 (9)
Total as of December 31, 2024—$— $— 45$152 $(12)45$152 $(12)
2023:
90%–100%—$— $— 69$1,140 $(14)69$1,140 $(14)
Less than 90%—— — 214 (5)214 (5)
Total as of December 31, 2023—$— $— 71$1,154 $(19)71$1,154 $(19)
Weighted average yields and contractual maturities for AFS debt securities with stated maturities as of December 31, 2024 were as follows:
TABLE 4.4: WEIGHTED AVERAGE YIELDS AND CONTRACTUAL MATURITIES OF AFS DEBT SECURITIES
(Millions)Due within 1 yearDue after 1 year but within 5 yearsDue after 5 years but within 10 yearsDue after 10 yearsTotal
State and municipal obligations (a)
$— $— $23 $26 $49 
U.S. Government agency obligations (a)
— — — 4 4 
U.S. Government treasury obligations189 98 — — 287 
Mortgage-backed securities (a)(b)
— — — 10 10 
Foreign government bonds and obligations764 1 — — 765 
Other (c)
— 67 10 — 77 
Total Estimated Fair Value$953 $166 $33 $40 $1,192 
Total Cost$955 $166 $32 $50 $1,203 
Weighted average yield (d)
5.33 %3.71 %4.81 %2.73 %4.98 %
(a)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.
(b)Represents mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae.
(c)Represents investments in debt securities issued by Community Development Financial Institutions.
(d)Average yields for investment securities have been calculated using the effective yield on the date of purchase. Yields on tax-exempt investment securities have been computed on a tax-equivalent basis using the U.S. federal statutory tax rate of 21 percent.
v3.25.0.1
Asset Securitizations
 12 Months Ended
Dec. 31, 2024
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. Refer to Note 1 for further details on the principles of consolidation. We perform the servicing and key decision making for the Trusts, and therefore have the power to direct the activities that most significantly impact the Trusts’ economic performance, which are the collection of the underlying Card Member loans and receivables. In addition, we hold all of the variable interests in both Trusts, with the exception of the debt securities issued to third-party investors. Our ownership of variable interests in the Lending Trust was $14.6 billion and $15.3 billion as of December 31, 2024 and 2023, respectively, and in the Charge Trust was $3.9 billion and $4.6 billion as of December 31, 2024 and 2023, 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.
The debt securities issued by the Trusts are non-recourse to us. The securitized Card Member loans and receivables held by the Lending Trust and the Charge Trust, respectively, are available only for payment of the debt securities or other obligations issued or arising in the securitization transactions (refer to Note 2). The long-term debt of each Trust is payable only out of collections on their respective underlying securitized assets (refer to Note 8).
Restricted cash and cash equivalents held by the Lending Trust was $88 million and $66 million as of December 31, 2024 and 2023, respectively, and by the Charge Trust was nil as of both December 31, 2024 and 2023. 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 years ended December 31, 2024 and 2023, no such triggering events occurred.
v3.25.0.1
Other Assets
 12 Months Ended
Dec. 31, 2024
Other Assets [Abstract]  
Other Assets
OTHER ASSETS
The following is a summary of Other assets as of December 31:
TABLE 6.1: OTHER ASSETS
(Millions)20242023
Goodwill$4,187 $3,851 
Right-of-use lease assets
804 770 
Other intangible assets, at amortized cost123 98 
Other (a)
16,065 14,395 
Total$21,179 $19,114 
(a)Primarily includes net deferred tax assets, other receivables net of reserves, investments in non-consolidated entities, tax credit investments, prepaid assets and derivative assets.
GOODWILL
The changes in the carrying amount of goodwill reported in our reportable operating segments were as follows:
TABLE 6.2: GOODWILL ROLLFORWARD
(Millions)USCSCSICSGMNSTotal
Balance as of December 31, 2022$379 $2,122 $725 $560 $3,786 
Acquisitions— 30 — 18 48 
Dispositions— — — — — 
Other (a)
— (1)18 — 17 
Balance as of December 31, 2023$379 $2,151 $743 $578 $3,851 
Acquisitions (b)
394 — — — 394 
Dispositions— — — (27)(27)
Other (a)
(1)(3)(27)— (31)
Balance as of December 31, 2024$772 $2,148 $716 $551 $4,187 
(a)Primarily includes foreign currency translation.
(b)Includes the acquisition of a reservation, table and event management technology provider.
Accumulated impairment losses were $221 million as of both December 31, 2024 and 2023.
OTHER INTANGIBLE ASSETS
Intangible assets are amortized on a straight-line basis over their estimated useful lives of 1 to 22 years. We review long-lived assets and asset groups, including intangible assets, for impairment whenever events and circumstances indicate their carrying amounts may not be recoverable. An impairment is recognized if the carrying amount is not recoverable and exceeds the asset or asset group’s fair value.
The gross carrying amount for Other intangible assets as of December 31, 2024 and 2023 was $642 million and $717 million, respectively, with accumulated amortization of $519 million and $619 million, respectively.
Amortization expense was $46 million, $49 million and $51 million for the years ended December 31, 2024, 2023 and 2022, respectively. For Other intangible assets on the Consolidated Balance Sheets as of December 31, 2024, amortization expense is expected to be $35 million in 2025, $25 million in 2026, $23 million in 2027, $18 million in 2028, $15 million in 2029 and $7 million thereafter.
TAX CREDIT INVESTMENTS
We hold tax credit investments that promote affordable housing, community development, and small businesses that foster economic growth in underserved areas and support compliance with the Community Reinvestment Act by our U.S. bank subsidiary, American Express National Bank (AENB). These investments generate a return primarily through the realization of income tax credits and other income tax benefits.
As of December 31, 2024 and 2023, we had $1,568 million and $1,369 million in tax credit investments, respectively, included in Other assets on the Consolidated Balance Sheets, comprised of Low-Income Housing Tax Credit (LIHTC) investments and other qualifying investments. We account for such tax credit investments using the Proportional Amortization Method.
As of December 31, 2024 and 2023, $1,168 million and $1,126 million of our tax credit investments, respectively, related to investments in unconsolidated VIEs for which we do not have a controlling financial interest.
As of December 31, 2024, we committed to provide funding related to certain of our tax credit investments, which is expected to be paid between 2025 and 2040, resulting in $682 million in unfunded commitments reported in Other liabilities, of which $401 million specifically related to unconsolidated VIEs.
In addition, as of December 31, 2024, we had contractual off-balance sheet obligations to provide additional funding up to $4 million for these tax credit investments, fully related to unconsolidated VIEs. We may be required to fund these amounts between 2025 and 2034.
The following table presents tax credit investment expenses and associated income tax credits and other income tax benefits for the years ended December 31:
TABLE 6.3: TAX CREDIT INVESTMENT EXPENSES, INCOME TAX CREDITS AND OTHER BENEFITS
(Millions)202420232022
Proportional amortization recognized in tax provision$193 $185 $161 
Equity method expenses recognized in Other, net expenses$— $— $9 
Income tax credits and Other income tax benefits (a) recognized in tax provision
$221 $204 $196 
(a)Other income tax benefits are a result of tax deductible expenses generated by our tax credit investments.
Income tax credits and other income tax benefits associated with our tax credit investments are also recognized in the Consolidated Statements of Cash Flows in the Operating activities section primarily under Accounts payable and other liabilities.
v3.25.0.1
Customer Deposits
 12 Months Ended
Dec. 31, 2024
Deposits [Abstract]  
Customer Deposits
CUSTOMER DEPOSITS
As of December 31, customer deposits were categorized as interest-bearing or non-interest-bearing as follows:
TABLE 7.1: INTEREST-BEARING AND NON-INTEREST-BEARING CUSTOMER DEPOSITS
(Millions)20242023
U.S.:
Interest-bearing$138,433 $128,146 
Non-interest-bearing (includes Card Member credit balances of: 2024, $513; 2023, $495)
566 557 
Non-U.S.:
Interest-bearing17 12 
Non-interest-bearing (includes Card Member credit balances of: 2024, $395; 2023, $426)
397 429 
Total customer deposits$139,413 $129,144 
Customer deposits by deposit type as of December 31 were as follows:
TABLE 7.2: CUSTOMER DEPOSITS BY TYPE
(Millions)20242023
U.S. interest-bearing deposits:
Savings accounts
$108,364 $92,324 
Checking accounts
2,045 1,398 
Certificates of deposit:
Direct4,303 5,557 
Third-party (brokered)8,109 12,960 
Sweep accounts ― Third-party (brokered)
15,612 15,907 
Total U.S. interest-bearing deposits
$138,433 $128,146 
Other deposits72 77 
Card Member credit balances908 921 
Total customer deposits$139,413 $129,144 
The scheduled maturities of certificates of deposit as of December 31, 2024 were as follows:
TABLE 7.3: SCHEDULED MATURITIES OF CERTIFICATES OF DEPOSIT
(Millions)20252026202720282029After 5 yearsTotal
Certificates of deposit (a)
$7,409 $2,244 $1,399 $701 $669 $— $12,422 
(a)Includes $10 million of non-U.S. direct certificates of deposit as of December 31, 2024.
As of December 31, 2024 and 2023, certificates of deposit in denominations that met or exceeded the insured limit were $1.4 billion and $1.8 billion, respectively.
v3.25.0.1
Debt
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt
DEBT
SHORT-TERM BORROWINGS
Our short-term borrowings outstanding, defined as borrowings with original contractual maturity dates of less than one year, as of December 31 were as follows:
TABLE 8.1: SHORT-TERM BORROWINGS
20242023
(Millions, except percentages)Outstanding Balance
Year-End Stated
Interest Rate on
Debt (a)
Outstanding Balance
Year-End Stated
Interest Rate on
Debt (a)
Short-term borrowings (b)
$1,374 2.47 %$1,293 1.03 %
Total$1,374 2.47 %$1,293 1.03 %
(a)For floating-rate issuances, the stated interest rates are weighted based on the outstanding principal balances and interest rates in effect as of December 31, 2024 and 2023.
(b)Includes borrowings from banks and book overdrafts with banks, which represents negative cash balances for accounts with an associated overdraft facility, due to timing differences arising in the ordinary course of business.

As of December 31, 2024, we maintained a three-year committed, revolving, secured borrowing facility, with a maturity date of September 15, 2026, which gives us the right to sell up to $3.0 billion face amount of eligible certificates issued from the Lending Trust. This facility enhances our contingent funding resources and is also used in the ordinary course of business to fund working capital needs. The facility was undrawn as of both December 31, 2024 and 2023. Additionally, certain of our subsidiaries maintained total committed lines of credit of $191 million and $185 million as of December 31, 2024 and 2023, respectively. As of December 31, 2024 and 2023, $16 million and nil were drawn on these committed lines of credit, respectively.
We paid $11.9 million and $12.0 million in fees to maintain the secured borrowing facility in 2024 and 2023, respectively. The committed facility does not contain a material adverse change clause, which might otherwise preclude borrowing under the facility, nor is it dependent on our credit rating.
LONG-TERM DEBT
Our long-term debt outstanding, defined as debt with original contractual maturity dates of one year or greater, as of December 31 was as follows:
TABLE 8.2: LONG-TERM DEBT
20242023
(Millions, except percentages)Original
Contractual
Maturity
Dates
Outstanding
Balance(a)
Year-End
Interest Rate
on Debt(b)
Year-End
Interest Rate with
Swaps(b)(c)
Outstanding
Balance(a)
Year-End
Interest Rate
on Debt(b)
Year-End
Interest Rate
with
Swaps(b)(c)
American Express Company
(Parent Company only)
Fixed Rate Senior Notes2025 - 2042$14,582 3.66 %3.80 %$20,930 3.48 %4.14 %
Floating Rate Senior Notes2025 - 20283,000 5.49 2,400 6.21 — 
Fixed-to-Floating Rate Senior Notes2026 - 203515,973 5.35 5.57 8,769 5.38 5.91 
Fixed Rate Subordinated Notes— — — 586 3.63 6.74 
Fixed-to-Floating Rate Subordinated Notes2033 - 20351,742 5.44 5.80 1,257 5.24 5.92 
American Express Credit Corporation
Fixed Rate Senior Notes2027333 3.30 — 330 3.30 — 
Lending Trust
Fixed Rate Senior Notes2025 - 202913,934 4.23 4.32 13,449 3.36 3.49 
Other
Floating Rate Borrowings2025 - 2027247 0.76 — %238 0.42 — %
Unamortized Underwriting Fees(96)(93)
Total Long-Term Debt$49,715 4.51 %$47,866 3.96 %
(a)The outstanding balances include (i) unamortized discount, (ii) the impact of movements in exchange rates on foreign currency denominated debt and (iii) the impact of fair value hedge accounting on certain fixed-rate notes that have been swapped to floating rate through the use of interest rate swaps. Refer to Note 13 for more details on our treatment of fair value hedges.
(b)For floating-rate issuances, the stated interest rate on debt is weighted based on the outstanding principal balances and interest rates in effect as of December 31, 2024 and 2023.
(c)Interest rates with swaps are only presented when swaps are in place to hedge the underlying debt. The interest rates with swaps are weighted based on the outstanding principal balances and the interest rates on the floating leg of the swaps in effect as of December 31, 2024 and 2023.
Aggregate annual maturities on long-term debt obligations (based on contractual maturity or anticipated redemption dates) as of December 31, 2024 were as follows:
TABLE 8.3: ANNUAL MATURITIES ON LONG-TERM DEBT
(Millions)20252026202720282029ThereafterTotal
American Express Company (Parent Company only)$5,250 $6,700 $8,012 $3,700 $2,500 $9,623 $35,785 
American Express Credit Corporation— — 339 — — — 339 
Lending Trust7,250 2,100 2,200 1,350 1,000 13,900 
Other57 63 127 247 
$12,557 $8,863 $10,678 $5,050 $3,500 $9,623 $50,271 
Unamortized Underwriting Fees(96)
Unamortized Discount and Premium(487)
Impacts due to Fair Value Hedge Accounting27 
Total Long-Term Debt$49,715 
We maintained a committed syndicated bank credit facility of $4.0 billion as of both December 31, 2024 and 2023, all of which was undrawn as of the respective dates. The facility has a maturity date of October 30, 2026, and the availability of the facility is subject to compliance with certain covenants, principally our maintenance of a minimum Common Equity Tier 1 (CET1) risk-based capital ratio of 4.5 percent, with certain restrictions in relation to either accessing the facility or distributing capital to common shareholders in the event our CET1 risk-based capital ratio falls between 4.5 percent and 6.5 percent. As of December 31, 2024 and 2023, we were in compliance with the covenants contained in the credit facility.

Additionally, we maintained a three-year committed, revolving, secured borrowing facility that gives us the right to sell up to $3.0 billion face amount of eligible notes issued from the Charge Trust at any time through July 15, 2026. As of both December 31, 2024 and 2023, no amounts were outstanding on this facility.
We paid $14.2 million and $20.2 million in fees to maintain these lines in 2024 and 2023, respectively. These committed facilities do not contain material adverse change clauses, which might otherwise preclude borrowing under the credit facilities, nor are they dependent on our credit rating.
We paid total interest, primarily related to short- and long-term debt, corresponding interest rate swaps and customer deposits, of $8.2 billion, $6.4 billion and $2.2 billion in 2024, 2023 and 2022, respectively.
v3.25.0.1
Other Liabilities
 12 Months Ended
Dec. 31, 2024
Other Liabilities Disclosure [Abstract]  
Other Liabilities
OTHER LIABILITIES
The following is a summary of Other liabilities as of December 31:
TABLE 9.1: OTHER LIABILITIES
(Millions)
20242023
Membership Rewards liability
$14,752 $13,742 
Deferred card and other fees, net
4,042 3,442 
Book overdraft balances (a)
3,461 9,897 
Employee-related liabilities (b)
2,676 2,567 
Card Member rebate and reward accruals (c)
2,121 2,061 
Income tax liability (d)
1,386 1,275 
Other (e)
8,373 8,655 
Total
$36,811 $41,639 
(a)Primarily includes negative cash balances for accounts without an associated overdraft facility, due to timing differences arising in the ordinary course of business.
(b)Includes employee benefit plan obligations and incentive compensation.
(c)Card Member rebate and reward accruals include payments to third-party reward partners and cash-back rewards.
(d)Includes repatriation tax liability of $749 million and $998 million as of December 31, 2024 and 2023, respectively, which represents our remaining obligation under the Tax Cuts and Jobs Act enacted on December 22, 2017 to pay a one-time transition tax on unrepatriated earnings and profits of certain foreign subsidiaries, the net position for current federal, state and non-U.S. income tax liabilities and deferred tax liabilities for foreign jurisdictions.
(e)Primarily includes prepaid products and Travelers Cheques, lease liabilities, accruals for general operating expenses, unfunded commitments for tax credit investments, payments to cobrand partners, dividends payable and client incentives.
MEMBERSHIP REWARDS
The Membership Rewards program allows enrolled Card Members to earn points that can be redeemed for a broad variety of rewards including, but not limited to, travel, shopping, gift cards and statement credits. We record a Membership Rewards liability that represents our best estimate of the cost of points earned that are expected to be redeemed by Card Members in the future. The weighted average cost (WAC) per point and the Ultimate Redemption Rate (URR) are the key assumptions used to estimate the liability. We use statistical and actuarial models to estimate the URR based on redemption trends, card product type, enrollment tenure, card spend levels and credit attributes. The WAC per point assumption is derived from 12 months of redemptions and is adjusted as appropriate for certain changes in redemption costs that are not representative of future cost expectations and expected developments in redemption patterns.
The expense for Membership Rewards points is included in Card Member rewards expense. We periodically evaluate our liability estimation process and assumptions based on changes in cost per point redeemed, partner contract changes and developments in redemption patterns, which may be impacted by product refreshes, changes in redemption options and mix of proprietary cards-in-force.
DEFERRED CARD AND OTHER FEES, NET
The carrying amount of deferred card and other fees, net of deferred direct acquisition costs and reserves for membership cancellations, as of December 31 was as follows:
TABLE 9.2: DEFERRED CARD AND OTHER FEES, NET
(Millions)20242023
Deferred card and other fees (a)
$4,475 $3,818 
Deferred direct acquisition costs(180)(158)
Reserves for membership cancellations(253)(218)
Deferred card and other fees, net$4,042 $3,442 
(a)Includes deferred fees for Membership Rewards program participants.
v3.25.0.1
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation
STOCK-BASED COMPENSATION
STOCK OPTION AND AWARD PROGRAMS
Under our 2016 Incentive Compensation Plan (amended and restated effective May 6, 2024) and previously under our 2007 Incentive Compensation Plan, awards may be granted to colleagues and other individuals who perform services for us. These awards may be in the form of stock options, or in the form of restricted stock units and awards (collectively referred to as RSUs), or other incentives or similar awards designed to meet the requirements of non-U.S. jurisdictions.
There were a total of 20 million, 7 million and 9 million common shares unissued and available for grant as of December 31, 2024, 2023 and 2022, respectively, as authorized by our Board of Directors and shareholders. We generally issue new common shares upon exercise of options, vesting of restricted stock units and granting of restricted stock awards.
Stock-based compensation expense recognized in Salaries and employee benefits in the Consolidated Statements of Income was $508 million, $450 million and $373 million in 2024, 2023 and 2022, respectively, with corresponding income tax benefits of $124 million, $110 million and $90 million in those respective periods.
Our stock options and RSUs outstanding as of December 31, 2024, and changes during the year, are as follows:
TABLE 10.1: STOCK OPTIONS AND RSUs OUTSTANDING
 Stock OptionsService-Based RSUsService and Performance-Based RSUs
(Numbers in thousands)
Number
Weighted-Average
Exercise Price
Number
Weighted-
Average Grant-
Date Fair Value
Number
Weighted-
Average Grant-
Date Fair Value
Outstanding as of December 31, 20233,553 $119.80 1,827 $159.95 3,296 $144.64 
Granted273 201.07 922 204.68 1,223 176.09 
Options exercised/RSUs vested(1,108)91.39 (844)155.92 (1,284)108.44 
Forfeited— — (98)182.64 (209)169.93 
Expired— — — — — — 
Outstanding as of December 31, 20242,718 139.54 1,807 $183.41 3,026 $170.97 
Options vested and expected to vest as of December 31, 20242,718 139.54 
Options exercisable as of December 31, 20241,047 $99.23 
Stock-based compensation expense is generally recognized ratably based on the grant-date fair value of the awards, net of expected forfeitures, over the vesting period. Generally, the vesting period is the time from the grant date to the earlier of the vesting date defined in each award agreement or the date the colleague will become eligible to retire. Retirement eligibility is dependent upon age and/or years of service.
STOCK OPTIONS
Each stock option has an exercise price equal to the market price of our common stock on the grant date. Stock options generally vest on the third anniversary of, and have a contractual term of 10 years from, the grant date.
The fair value of options without market conditions is estimated on the grant date using a Black-Scholes-Merton option-pricing model. The following weighted-average assumptions were used for options granted in 2024, 2023 and 2022:
TABLE 10.2: WEIGHTED-AVERAGE ASSUMPTIONS FOR OPTIONS GRANTED
202420232022
Dividend yield1.5 %1.4 %1.0 %
Expected volatility(a)
31 %32 %31 %
Risk-free interest rate3.9 %3.5 %1.7 %
Expected life of stock option (in years)(b)
6.97.17.1
Weighted-average fair value per option$68.79 $60.03 $55.30 
(a)The expected volatility is based on historical and implied volatilities of our common stock price.
(b)The expected life of stock options was determined using historical option exercise behavior.
Certain executives were awarded a grant of stock options on October 31, 2022 that vest, subject to achieving performance and market conditions. These options vest in tranches on the third and fourth anniversaries from the grant date, subject to continued employment through the applicable anniversary, and have a contractual term of seven years. The fair value was estimated at the grant date using a Monte Carlo valuation model assuming a dividend yield of 1.4 percent, expected volatility (based on historical and implied volatilities of our common stock price) of 34 percent, risk-free rate of 3.9 percent and an expected life of seven years, resulting in a fair value of $50.10.
The weighted-average remaining contractual life and the aggregate intrinsic value (the amount by which the fair value of our stock price exceeds the exercise price of the option) of the stock options outstanding, exercisable, and vested and expected to vest as of December 31, 2024, were as follows:
TABLE 10.3: WEIGHTED-AVERAGE CONTRACTUAL LIFE AND AGGREGATE INTRINSIC VALUE OF OPTIONS
OutstandingExercisableVested and
Expected to Vest
Weighted-average remaining contractual life (in years)
5.33.75.3
Aggregate intrinsic value (millions)
$427 $207 $427 
As of December 31, 2024, there was $19 million of total unrecognized compensation cost related to unvested options, which will be recognized over the weighted-average remaining vesting period of 1.3 years.
For stock options that were exercised during 2024, 2023 and 2022, the intrinsic value, based upon the fair value of our stock price at the date the options were exercised, was $179 million, $26 million and $56 million, respectively; cash received by the Company from the exercise of stock options was $100 million, $28 million and $56 million during those respective periods. The income tax benefit recognized in the Consolidated Statements of Income related to stock option exercises was $25 million, $4 million and $9 million in 2024, 2023 and 2022, respectively.
RESTRICTED STOCK UNITS/AWARDS
We grant RSUs that contain either a) service conditions or b) both service and performance conditions. RSUs containing only service conditions generally vest ratably over three years, or four years for awards granted prior to 2022, beginning with the first anniversary of the grant date. RSUs containing both service and performance conditions generally vest on the third anniversary of the grant date, and the number of shares earned generally ranges from zero to 120 percent of target depending on the achievement of predetermined Company metrics. RSU holders receive dividend equivalents or dividends.
Performance-based RSUs include a relative total shareholder return (r-TSR) modifier so that our actual shareholder return relative to a comparable peer group is one of the performance conditions that determines the number of shares ultimately issued upon vesting.
The fair value of RSUs that do not include the r-TSR modifier, including those that contain only service conditions, is measured using our stock price on the grant date. The fair value of service and performance-based RSUs that include the r-TSR modifier is determined using a Monte Carlo valuation model using assumptions based on the historical volatility of our common stock price, the historical correlations of our common stock price with that of each of the companies in the performance peer group and the risk-free interest rate, each for a period equal to the estimated remaining performance period. The weighted averages of the following assumptions used in 2024, 2023 and 2022 were:
TABLE 10.4: RSU VALUATION MODEL WEIGHTED-AVERAGE ASSUMPTIONS
202420232022
Expected volatility
30 %45 %42 %
Risk-free interest rate4.0 %3.7 %1.4 %
Remaining performance period (in years)
2.92.92.9
As of December 31, 2024, there was $266 million of total unrecognized compensation cost related to non-vested RSUs, which will be recognized over the weighted-average remaining vesting period of 1.8 years.
The weighted-average grant-date fair value of RSUs granted in 2024, 2023 and 2022 was $188.37, $163.88 and $168.26, respectively.
For RSUs vested during 2024, 2023 and 2022, the total fair value, based upon our stock price at the date the RSUs vested, was $437 million, $389 million and $323 million, respectively.
LIABILITY-BASED AWARDS
Other incentive awards can be settled with cash or equity shares at our discretion and final approval from the Compensation and Benefits Committee. These awards are generally settled with cash and thus are classified as liabilities; therefore, the fair value is determined at the grant date and remeasured quarterly as part of compensation expense over the vesting period. Cash paid upon vesting of these awards in 2024, 2023 and 2022 was $60 million, $55 million and $50 million, respectively.
v3.25.0.1
Retirement Plans
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Retirement Plans
RETIREMENT PLANS
DEFINED CONTRIBUTION RETIREMENT PLANS
We sponsor defined contribution retirement plans, the principal plan being the Retirement Savings Plan (RSP), a 401(k) savings plan with a profit-sharing component. The RSP is a tax-qualified retirement plan subject to the Employee Retirement Income Security Act of 1974 and covers most colleagues in the United States. The total expense for all defined contribution retirement plans globally was $365 million, $380 million and $259 million in 2024, 2023 and 2022, respectively.
DEFINED BENEFIT PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
Our primary defined benefit pension plans that cover certain colleagues in the United States and United Kingdom are closed to new entrants and existing participants do not accrue any additional benefits. Some colleagues outside the United States and United Kingdom are covered by local retirement plans, some of which are funded, while other colleagues receive payments at the time of retirement or termination under applicable labor laws or agreements. We comply with minimum funding requirements in all countries. We also sponsor unfunded other postretirement benefit plans that provide health care and life insurance to certain retired colleagues in the United States. For these plans, the total net benefit was $18 million, $12 million and $24 million in 2024, 2023 and 2022, respectively.
We recognize the funded status of our defined benefit pension plans and other postretirement benefit plans, measured as the difference between the fair value of the plan assets and the projected benefit obligation, on the Consolidated Balance Sheets. As of December 31, 2024 and 2023, the unfunded status related to the defined benefit pension plans and other postretirement benefit plans was $88 million and $212 million, respectively, and is recorded in Other liabilities.
v3.25.0.1
Contingencies and Commitments
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Contingencies and Commitments
CONTINGENCIES AND COMMITMENTS
CONTINGENCIES
In the ordinary course of business, we and our subsidiaries are subject to various pending and potential legal actions, arbitration proceedings, claims, investigations, examinations, regulatory proceedings, information gathering requests, subpoenas, inquiries and matters relating to compliance with laws and regulations (collectively, legal proceedings).
Based on our current knowledge, and taking into consideration our litigation-related liabilities, we do not believe we are a party to, nor are any of our properties the subject of, any legal proceeding that would have a material adverse effect on our consolidated financial condition or liquidity. However, in light of the uncertainties involved in such matters, including the fact that some pending legal proceedings are at preliminary stages or seek an indeterminate amount of damages, penalties or fines, it is possible that the outcome of legal proceedings could have a material impact on our results of operations. Certain legal proceedings involving us or our subsidiaries are described below.
On September 30, 2024, we were named as a defendant in a case filed in the United States District Court for the District of Massachusetts, captioned Pizza Hazel, Inc., et al. v. American Express Co., et al., in which plaintiffs allege that the anti-steering and non-discrimination provisions in our merchant agreements violate federal antitrust law and that the arbitration provision in our merchant agreements violates federal antitrust law to the extent it prevents antitrust challenges to our anti-steering and non-discrimination provisions. Plaintiffs seek, on behalf of themselves and a class of merchants that accept through the OptBlue Program, unspecified damages and an injunction prohibiting us from enforcing our anti-steering and non-discrimination provisions and prohibiting us from enforcing our arbitration provision to the extent it prevents antitrust challenges to our anti-steering and non-discrimination provisions.
On March 21, 2024, we were named as a defendant in a case filed in the United States District Court for the District of Rhode Island, captioned 5-Star General Store aka Bento LLC, et al. v. American Express Co., et al., in which plaintiffs allege that the anti-steering and non-discrimination provisions in our merchant agreements violate federal antitrust law and seek, on behalf of themselves and a class of merchants, an injunction prohibiting us from enforcing our anti-steering and non-discrimination provisions and a declaration that we have violated antitrust laws.
On January 29, 2019, we were named in a putative class action brought in the United States District Court for the Eastern District of New York, captioned Anthony Oliver, et al. v. American Express Company and American Express Travel Related Services Company Inc., in which the plaintiffs are holders of MasterCard, Visa and/or Discover credit and/or debit cards (but not American Express cards) and allege they paid higher prices as a result of the anti-steering and non-discrimination provisions in our merchant agreements in violation of federal antitrust law and the antitrust and consumer laws of various states. Plaintiffs seek unspecified damages and other forms of relief. The court dismissed plaintiffs’ federal antitrust claim, numerous state antitrust and consumer protection claims and their unjust enrichment claim. For the remaining state antitrust or consumer protection claims, the court certified classes for (i) holders of Visa and MasterCard debit cards in eight states and Washington, D.C.; and (ii) holders of Visa, MasterCard and Discover credit cards that do not offer rewards or charge an annual fee in two states and Washington, D.C.
On March 8, 2016, plaintiffs B&R Supermarket, Inc. d/b/a Milam’s Market and Grove Liquors LLC, on behalf of themselves and others, filed a suit, captioned B&R Supermarket, Inc. d/b/a Milam’s Market, et al. v. Visa Inc., et al., for violations of the Sherman Antitrust Act, the Clayton Antitrust Act, California’s Cartwright Act and unjust enrichment in the United States District Court for the Northern District of California, against American Express Company, other credit and charge card networks, other issuing banks and EMVCo, LLC. Plaintiffs allege that the defendants, through EMVCo, conspired to shift liability for fraudulent, faulty and otherwise rejected consumer credit card transactions from themselves to merchants after the implementation of EMV chip payment terminals. Plaintiffs seek damages and injunctive relief. On May 4, 2017, the California court transferred the case to the United States District Court for the Eastern District of New York. On August 28, 2020, the court granted plaintiffs’ motion for class certification. On August 14, 2024, the court granted our motion to compel arbitration as to class members who are subject to our merchant agreements, but did not stay the claims pending arbitration. On November 15, 2024, we appealed to the Second Circuit requesting a stay of all claims against us that are subject to arbitration.
In 2006, Mawarid Investments Limited filed a request for confidential arbitration under the 1998 London Court of International Arbitration Rules in connection with certain claims arising under a shareholders agreement between Mawarid and American Express Travel Related Services Company, Inc. relating to a joint venture between the parties, Amex (Middle East) BSC(c) (AEME). In 2008, the tribunal rendered a partial award, including a direction that an audit should take place to verify whether acquirer discount revenue related to transactions occurring with airlines located in the Middle East region had been properly allocated to AEME since its inception in 1992. In September 2021, the tribunal rendered a further partial award regarding the location of transactions through non-physical channels. In May 2022, the tribunal further clarified the 2021 partial award and the discount rate that should apply to transactions through non-physical channels. In December 2024, the tribunal rendered a further partial award providing further clarifications on the allocation of revenue. A final award is expected in 2025.
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) and have provided information regarding these sales practices issues to The Board of Governors of the Federal Reserve System (Federal Reserve).
In January 2023, the CFPB notified us that its investigation was completed and that it did not intend to recommend an enforcement action be taken against us at that 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. In January 2025, we announced that we entered into agreements with the EDNY and DOJ Civil Division and reached an agreement in principle with the Staff of the Federal Reserve to resolve their investigations into historical sales practices for certain U.S. small business customers, which we ended in 2021 or earlier. Pursuant to the agreements and after crediting, we are required to pay approximately $230 million in total to resolve these matters.
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 $160 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.
COMMITMENTS
Total lease expense is recorded in Other, net expenses in the Consolidated Statements of Income and includes rent expenses, adjustments for rent concessions, rent escalations and leasehold improvement allowances and is recognized on a straight-line basis over the lease term. Total lease expense was $189 million, $164 million and $188 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Lease liabilities are recognized at the present value of the contractual fixed lease payments, discounted using our incremental borrowing rate as of the lease commencement date or upon modification of the lease. Lease liabilities outstanding were $933 million and $926 million as of December 31, 2024 and 2023, respectively. The weighted average remaining lease term was 17 years and 19 years as of December 31, 2024 and 2023, respectively. The weighted average rate used to discount lease commitments was 4 percent and 3 percent as of December 31, 2024 and 2023, respectively.
The following represents the maturities of our outstanding lease commitments as of December 31, 2024:
TABLE 12.1: MATURITIES OF OUTSTANDING LEASE COMMITMENTS
(Millions) 
2025$160 
2026146 
2027129 
2028121 
2029106 
Thereafter771 
Total Outstanding Fixed Lease Payments (a)
$1,433 
Less: Amount representing interest$(500)
Lease Liabilities$933 
(a)Excludes $346 million related to leases that were not yet commenced but were commitments as of December 31, 2024.
As of December 31, 2024, we had approximately $12.9 billion in financial commitments outstanding related to agreements with certain cobrand partners under which we are required to make a certain level of minimum payments over the life of the agreement, generally ranging from five to ten years. Generally, such commitments are designed to be satisfied by the payment we make to such cobrand partners primarily based on Card Members’ spending and earning rewards on their cobrand cards and as we acquire new Card Members. In the event these payments do not fully satisfy the commitment, we generally pay the cobrand partner up to the amount of the commitment in exchange for an equivalent value of reward points.
Our U.S. bank subsidiary, AENB, is a member of the Federal Reserve System and is therefore required to subscribe to a certain amount of shares issued by its Federal Reserve District Bank, with half of the subscribed amount paid up front. As of both December 31, 2024 and 2023, AENB held shares with a carrying value of $132 million, with the remaining half subject to call by the Federal Reserve District Bank Board, the likelihood of which we believe is remote.
v3.25.0.1
Derivatives and Hedging Activities
 12 Months Ended
Dec. 31, 2024
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.
Market risk is the risk to earnings or asset and liability values resulting from movements in market prices. Our market risk exposures include:
•Interest rate risk due to changes in the relationship between the interest rates on our assets (such as loans, receivables and investment securities) and the interest rates on our liabilities (such as debt and deposits); and
•Foreign exchange risk related to transactions, funding, investments and earnings in currencies other than the U.S. dollar.
We centrally monitor market risks using market risk limits and escalation triggers as defined in our Asset/Liability Management Policy. Our market exposures are in large part by-products of the delivery of our products and services.
Interest rate risk primarily arises through the funding of Card Member receivables and fixed-rate loans with variable-rate borrowings, as well as through the risk to net interest margin from changes in the relationship between benchmark rates such as Prime, the secured overnight financing rate and the overnight indexed swap rate. Interest rate exposure within our charge card and fixed-rate lending products is managed by varying the proportion of total funding provided by short-term and variable-rate debt and deposits compared to fixed-rate debt and deposits. In addition, interest rate swaps are used from time to time to economically convert fixed-rate debt obligations to variable-rate obligations, or to convert variable-rate debt obligations to fixed-rate obligations. We may change the mix between variable-rate and fixed-rate funding based on changes in business volumes and mix, among other factors.
Foreign exchange exposures arise in four principal ways: (1) Card Member spending in currencies that are not the billing currency, (2) cross-currency transactions and balances from our funding activities, (3) cross-currency investing activities, such as in the equity of foreign subsidiaries and (4) revenues generated and expenses incurred in foreign currencies, which impact earnings. Our foreign exchange risk is managed primarily by entering into agreements to buy and sell currencies on a spot basis or by hedging this market exposure, to the extent it is economical, through various means, including the use of derivatives such as foreign exchange forwards.
Derivatives may give rise to counterparty credit risk, which is the risk that a derivative counterparty will default on, or otherwise be unable to perform pursuant to, an uncollateralized derivative exposure. We manage this risk by considering the current exposure, which is the replacement cost of contracts on the measurement date, as well as estimating the maximum potential future exposure of the contracts over the next 12 months, considering such factors as the volatility of the underlying or reference index. To mitigate derivative credit risk, counterparties are required to be pre-approved by us and rated as investment grade, and counterparty risk exposures are centrally monitored.
A majority of our derivative assets and liabilities as of December 31, 2024 and 2023 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. To further mitigate counterparty credit risk, we exercise our rights under executed credit support agreements with the respective derivative counterparties for our bilateral interest rate swaps and select foreign exchange contracts. These agreements require that, in the event the fair value change in the net derivatives position between the two parties exceeds certain dollar thresholds, the party in the net liability position posts collateral to its counterparty. All derivative contracts cleared through a central clearinghouse are collateralized to the full amount of the fair value of the contracts.
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 December 31, 2024, these derivatives were not in a material net liability position and we had no material risk exposure to any individual derivative counterparty. Based on our assessment of the credit risk of our derivative counterparties and our own credit risk as of December 31, 2024 and 2023, no credit risk adjustment to the derivative portfolio was required.
Our derivatives are carried at fair value on the Consolidated Balance Sheets. The accounting for changes in fair value depends on the instruments’ intended use and the resulting hedge designation, if any, as discussed below. Refer to Note 14 for a description of our methodology for determining the fair value of derivatives.
The following table summarizes the total fair value, excluding interest accruals, of derivative assets and liabilities as of December 31:
TABLE 13.1: FAIR VALUE OF DERIVATIVE ASSETS AND LIABILITIES
Other Assets Fair ValueOther Liabilities Fair Value
(Millions)2024202320242023
Derivatives designated as hedging instruments:
Fair value hedges - Interest rate contracts (a)
$— $— $23 $99 
Net investment hedges - Foreign exchange contracts340 9 18 455 
Total derivatives designated as hedging instruments340 9 41 554 
Derivatives not designated as hedging instruments:
Foreign exchange contracts and other
666 71 90 423 
Total derivatives, gross1,006 80 131 977 
Derivative asset and derivative liability netting (b)
(91)(57)(91)(57)
Cash collateral netting (c)
(18)— (23)(106)
Total derivatives, net$897 $23 $17 $814 
(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 $368 million and $175 million as of December 31, 2024 and 2023, 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.
DERIVATIVE FINANCIAL INSTRUMENTS THAT QUALIFY FOR HEDGE ACCOUNTING
Derivatives executed for hedge accounting purposes are documented and designated as such when we enter into the contracts. In accordance with our risk management policies, we structure our hedges with terms similar to those of the item being hedged. We formally assess, at inception of the hedge accounting relationship and on a quarterly basis, whether derivatives designated as hedges are highly effective in offsetting the fair value or cash flows of the hedged items. These assessments usually are made through the application of a regression analysis method. If it is determined that a derivative is not highly effective as a hedge, we will discontinue the application of hedge accounting.
FAIR VALUE HEDGES
A fair value hedge involves a derivative designated to hedge our exposure to future changes in the fair value of an asset or a liability, or an identified portion thereof, that is attributable to a particular risk.
Interest Rate Contracts
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 $18.9 billion and $11.7 billion of fixed-rate debt obligations designated in fair value hedging relationships as of December 31, 2024 and 2023, respectively.
Gains or losses on the fair value hedging instrument principally offset the losses or gains on the hedged item attributable to the hedged risk. The changes in the fair value of the derivative and the changes in the hedged item may not fully offset due to differences between a debt obligation’s interest rate and the benchmark rate, primarily due to credit spreads at inception of the hedging relationship that are not reflected in the fair value of the interest rate swap.
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 years ended December 31:
TABLE 13.2: GAINS AND LOSSES ASSOCIATED WITH FAIR VALUE HEDGES ON FIXED-RATE LONG TERM DEBT
Gains (losses)
(Millions)202420232022
Fixed-rate long-term debt$26 $(289)$473 
Derivatives designated as hedging instruments(27)290 (476)
Total$(1)$1 $(3)
The carrying values of the hedged liabilities, recorded within Long-term debt on the Consolidated Balance Sheets, were $18.9 billion and $11.7 billion as of December 31, 2024 and 2023, respectively, including the cumulative amount of fair value hedging adjustments of $27 million and $53 million for the respective periods.
We recognized in Interest expense on Long-term debt net increases of $254 million and $189 million for the years ended December 31, 2024 and 2023, respectively and a net decrease of $57 million for the year ended December 31, 2022. These were primarily related to the net settlements including interest accruals on our interest rate derivatives designated as fair value hedges.
NET INVESTMENT HEDGES
A net investment hedge is used to hedge future changes in currency exposure of a net investment in a foreign operation. We primarily designate foreign currency derivatives 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 $14.3 billion and $14.1 billion of foreign currency derivatives designated as net investment hedges as of December 31, 2024 and 2023, respectively. The gain or loss on net investment hedges, net of taxes, recorded in AOCI as part of the cumulative translation adjustment, was a gain of $816 million, a loss of $640 million and a gain of $237 million for the years ended December 31, 2024, 2023 and 2022, respectively. Net investment hedge reclassifications out of AOCI into the Consolidated Statements of Income were not significant for the years ended December 31, 2024, 2023 and 2022, respectively.
DERIVATIVES NOT DESIGNATED AS HEDGES
We have derivatives that act as economic hedges, but are not designated as such for hedge accounting purposes. Foreign currency transactions from time to time may be partially or fully economically hedged through foreign currency contracts, primarily foreign exchange forwards. These hedges generally mature within one year. Foreign currency contracts involve the purchase and sale of designated currencies at an agreed upon rate for settlement on a specified date.
The changes in the fair value of derivatives that are not designated as hedges are primarily intended to offset the related foreign exchange gains or losses of the underlying foreign currency exposures. We had notional amounts of approximately $28.8 billion and $25.3 billion as of December 31, 2024 and 2023, respectively. The changes in the fair value of the derivatives and the related underlying foreign currency exposures resulted in net gains of $102 million, $82 million and $8 million for the years ended December 31, 2024, 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 (C Ordinary Shares of GBT JerseyCo Limited) had a notional amount of $78 million as of both December 31, 2024 and 2023. This embedded derivative had a fair value of $31 million and $18 million as of December 31, 2024 and 2023, respectively. The changes in the fair value of the embedded derivative resulted in a gain of $13 million, a loss of $9 million and a gain of $4 million for the years ended December 31, 2024, 2023 and 2022, respectively, which were recognized in Service fees and other revenue in the Consolidated Statements of Income.
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Fair Values
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Values
FAIR VALUES
Fair value is defined as the price that would be required to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, based on the principal or, in the absence of a principal, most advantageous market for the specific asset or liability.
GAAP provides for a three-level hierarchy of inputs to valuation techniques used to measure fair value, defined as follows:
•Level 1 ― Inputs that are quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity can access.
•Level 2 ― Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability, including:
– Quoted prices for similar assets or liabilities in active markets;
– Quoted prices for identical or similar assets or liabilities in markets that are not active;
– Inputs other than quoted prices that are observable for the asset or liability; and
– Inputs that are derived principally from or corroborated by observable market data by correlation or other means.
•Level 3 ― Inputs that are unobservable and reflect our own estimates about the estimates market participants would use in pricing the asset or liability based on the best information available in the circumstances (e.g., internally derived assumptions surrounding the timing and amount of expected cash flows).
We monitor the market conditions and evaluate the fair value hierarchy levels at least quarterly. For the years ended December 31, 2024 and 2023, there were no Level 3 transfers.
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 described in the preceding paragraphs), as of December 31:
TABLE 14.1: FINANCIAL ASSETS AND FINANCIAL LIABILITIES MEASURED AT FAIR VALUE
20242023
(Millions)TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Assets:
Investment securities: (a)
Equity securities$48 $48 $— $— $66 $66 $— $— 
Debt securities 1,192 — 1,115 77 2,120 — 2,046 74 
Derivatives, gross (a)(b)
1,006 — 975 31 80 — 62 18 
Total Assets2,246 48 2,090 108 2,266 66 2,108 92 
Liabilities:
Derivatives, gross (a)
131 — 131 — 977 — 977 — 
Total Liabilities$131 $— $131 $— $977 $— $977 $— 
(a)Refer to Note 4 for the fair values of investment securities and to Note 13 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 13 for additional information about this embedded derivative.
VALUATION TECHNIQUES USED IN THE FAIR VALUE MEASUREMENT OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES CARRIED AT FAIR VALUE
For the financial assets and liabilities measured at fair value on a recurring basis (categorized in the valuation hierarchy table above), we apply the following valuation techniques:
Investment Securities
When available, quoted prices of identical investment securities in active markets are used to estimate fair value. Such investment securities are classified within Level 1 of the fair value hierarchy.
When quoted prices of identical investment securities in active markets are not available, the fair values for our investment securities are obtained primarily from pricing services engaged by us, and we receive one price for each security. The fair values provided by the pricing services are estimated using pricing models, where the inputs to those models are based on observable market inputs or recent trades of similar securities. Such investment securities are classified within Level 2 of the fair value hierarchy. The inputs to the valuation techniques applied by the pricing services vary depending on the type of security being priced but are typically benchmark yields, benchmark security prices, credit spreads, prepayment speeds, reported trades and broker-dealer quotes, all with reasonable levels of transparency. The pricing services did not apply any adjustments to the pricing models used. In addition, we did not apply any adjustments to prices received from the pricing services.
We reaffirm our understanding of the valuation techniques used by our pricing services at least annually. In addition, we corroborate the prices provided by our pricing services by comparing them to alternative pricing sources. In instances where price discrepancies are identified between different pricing sources, we evaluate such discrepancies to ensure that the prices used for our valuation represent the fair value of the underlying investment securities. Refer to Note 4 for additional information on investment securities.
Within Level 3 of the fair value hierarchy are our holdings of debt securities issued by Community Development Financial Institutions. We take the carrying value for these investment securities to be a reasonable proxy for their fair value unless we determine, based on our internal credit model, that there are indicators that the contractual cash flows will not be received in full.
Derivative Financial Instruments
The fair value of our Level 2 derivative financial instruments is estimated by using third-party pricing models, where the inputs to those models are readily observable from active markets. The pricing models used are consistently applied and reflect the contractual terms of the derivatives as described below. We reaffirm our understanding of the valuation techniques at least annually and validate the valuation output on a quarterly basis.
The fair value of our interest rate swaps is determined based on a discounted cash flow method using the following significant inputs: the contractual terms of the swap such as the notional amount, fixed coupon rate, floating coupon rate and tenor, as well as discount rates consistent with the underlying economic factors of the currency in which the cash flows are denominated.
The fair value of foreign exchange forward contracts is determined based on a discounted cash flow method using the following significant inputs: the contractual terms of the forward contracts such as the notional amount, maturity dates and contract rate, as well as relevant foreign currency forward curves, and discount rates consistent with the underlying economic factors of the currency in which the cash flows are denominated.
Our Level 3 derivative financial instrument represents an embedded derivative in the form of C Ordinary Shares of GBT JerseyCo Limited. The fair valuation is performed by an independent third party using a Monte Carlo Simulation technique that models a range of probable future stock prices using the following significant inputs: term of the earnout, initial stock price, annual expected volatility of the common stock over the expected term, annual risk-neutral rate of return over the contractual term and dividend yield, which is further reviewed by management.
Credit valuation adjustments are necessary when the market parameters, such as a benchmark curve, used to value derivatives are not indicative of our credit quality or that of our counterparties. We consider the counterparty credit risk by applying an observable forecasted default rate to the current exposure. Refer to Note 13 for additional information on derivative financial instruments.
FINANCIAL ASSETS AND FINANCIAL LIABILITIES CARRIED AT OTHER THAN FAIR VALUE
The following tables summarize the estimated fair values of our financial assets and financial liabilities that are measured at amortized cost, and not required to be carried at fair value on a recurring basis, as of December 31, 2024 and 2023. The fair values of these financial instruments are estimates based upon the market conditions and perceived risks as of December 31, 2024 and 2023, and require management’s judgment. These figures may not be indicative of future fair values, nor can the fair value of American Express be estimated by aggregating the amounts presented.
TABLE 14.2: FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES MEASURED AT AMORTIZED COST
2024 (Billions)
Carrying
Value		Corresponding Fair Value Amount
TotalLevel 1Level 2Level 3
Financial Assets:
Financial assets for which carrying values equal or
approximate fair value
Cash and cash equivalents(a)
$41 $41 $39 $2 $— 
Other financial assets(b)
63 63 — 63 — 
Financial assets carried at other than fair value
Card Member and Other loans, less reserves(c)
143 149 — — 149 
Card Member loans HFS
1 1 — — 1 
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value155 155 — 155 — 
Financial liabilities carried at other than fair value
Certificates of deposit(d)
12 12 — 12 — 
Long-term debt(c)
$50 $50 $— $50 $— 
2023 (Billions)
Carrying
Value		Corresponding Fair Value Amount
TotalLevel 1Level 2Level 3
Financial Assets:
Financial assets for which carrying values equal or
approximate fair value
Cash and cash equivalents(a)
$47 $47 $45 $2 $— 
Other financial assets(b)
63 63 — 63 — 
Financial assets carried at other than fair value
Card Member and Other loans, less reserves(c)
128 133 — — 133 
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value143 143 — 143 — 
Financial liabilities carried at other than fair value
Certificates of deposit(d)
19 18 — 18 — 
Long-term debt(c)
$48 $48 $— $48 $— 
(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 $3.9 billion and $4.6 billion held by a consolidated VIE as of December 31, 2024 and 2023, 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 $28.3 billion and $28.6 billion as of December 31, 2024 and 2023, respectively, and the fair values of Long-term debt were $14.0 billion and $13.3 billion as of December 31, 2024 and 2023, respectively.
(d)Presented as a component of Customer deposits on the Consolidated Balance Sheets.
VALUATION TECHNIQUES USED IN THE FAIR VALUE MEASUREMENT OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES CARRIED AT OTHER THAN FAIR VALUE
For the financial assets and liabilities that are not required to be carried at fair value on a recurring basis (categorized in the valuation hierarchy table), we apply the following valuation techniques to measure fair value:
Financial Assets For Which Carrying Values Equal Or Approximate Fair Value
Financial assets for which carrying values equal or approximate fair value include cash and cash equivalents, Card Member receivables, accrued interest and certain other assets. For these assets, the carrying values approximate fair value because they are short term in duration, have no defined maturity or have a market-based interest rate.
Financial Assets Carried At Other Than Fair Value
Card Member and Other loans, less reserves
Card Member and Other loans are recorded at historical cost, less reserves, on the Consolidated Balance Sheets. In estimating the fair value for our loans, we use a discounted cash flow model. Due to the lack of a comparable whole loan sales market for similar loans and the lack of observable pricing inputs thereof, we use various inputs to estimate fair value. Such inputs include projected income, discount rates and forecasted write-offs. The valuation does not include economic value attributable to future receivables generated by the accounts associated with the loans.
Card Member loans HFS
The fair value of Card Member loans HFS is generally determined on an aggregate portfolio basis, using similar methodologies and inputs as those used for estimating the fair value of Card Member loans not HFS, as described above.
Financial Liabilities For Which Carrying Values Equal Or Approximate Fair Value
Financial liabilities for which carrying values equal or approximate fair value include accrued interest, customer deposits (excluding certificates of deposit, which are described further below), Travelers Cheques and other prepaid products outstanding, accounts payable, short-term borrowings and certain other liabilities for which the carrying values approximate fair value because they are short term in duration, have no defined maturity or have a market-based interest rate.
Financial Liabilities Carried At Other Than Fair Value
Certificates of Deposit
Certificates of deposit (CDs) are recorded at their historical issuance cost on the Consolidated Balance Sheets. Fair value is estimated using a discounted cash flow methodology based on the future cash flows and the discount rate that reflects the current market rates for similar types of CDs within similar markets.
Long-term Debt
Long-term debt is recorded at historical issuance cost on the Consolidated Balance Sheets adjusted for (i) unamortized discount and unamortized fees, (ii) the impact of movements in exchange rates on foreign currency denominated debt and (iii) the impact of fair value hedge accounting on certain fixed-rate notes that have been swapped to floating rate through the use of interest rate swaps. The fair value of our long-term debt is measured using quoted offer prices when quoted market prices are available. If quoted market prices are not available, the fair value is determined by discounting the future cash flows of each instrument at rates currently observed in publicly-traded debt markets for debt of similar terms and credit risk. For long-term debt, where there are no rates currently observable in publicly traded debt markets of similar terms and comparable credit risk, we use market interest rates and adjust those rates for necessary risks, including our own credit risk. In determining an appropriate spread to reflect our credit standing, we consider credit default swap spreads, bond yields of other long-term debt offered by us, and interest rates currently offered to us for similar debt instruments of comparable maturities.
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 as of both December 31, 2024 and 2023, of which investments representing nonrecurring Level 3 fair value measurement were $1 million and nil as of December 31, 2024 and 2023, respectively. These amounts are included within Other assets on the Consolidated Balance Sheets.
We recorded unrealized gains of $85 million, $18 million and $94 million for the years ended December 31, 2024, 2023 and 2022, respectively. Unrealized losses were $37 million, $142 million and $388 million for the years ended December 31, 2024, 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 $1.1 billion as of both December 31, 2024 and 2023, and cumulative unrealized losses were $460 million and $431 million as of December 31, 2024 and 2023, 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 December 31, 2024 and 2023.
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Guarantees
 12 Months Ended
Dec. 31, 2024
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 $10 million, respectively, as of December 31, 2024 and $1 billion and $24 million, respectively, as of December 31, 2023, 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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Common and Preferred Shares
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Common and Preferred Shares
COMMON AND PREFERRED SHARES
The following table shows authorized shares and provides a reconciliation of common shares issued and outstanding for the years ended December 31:
TABLE 16.1: COMMON SHARES ISSUED AND OUTSTANDING
(Millions, except where indicated)202420232022
Common shares authorized (billions) (a)
3.6 3.6 3.6 
Shares issued and outstanding at beginning of year723 743 761 
Repurchases of common shares(24)(22)(20)
Net shares issued for RSUs and stock option exercises (b)
3 2 2 
Shares issued and outstanding as of December 31702 723 743 
(a)Of the common shares authorized but unissued as of December 31, 2024, approximately 27 million shares are reserved for issuance under employee stock and employee benefit plans.
(b)Shares issued for RSUs are reported net of shares withheld for tax withholding obligations.
On March 8, 2023, the Board of Directors authorized the repurchase of up to 120 million common shares from time to time, subject to market conditions and in accordance with our capital plans. This authorization replaced the prior repurchase authorization made on September 23, 2019. During 2024, 2023 and 2022, we repurchased 24 million common shares with a cost of $5.9 billion, 22 million common shares with a cost of $3.5 billion, and 20 million common shares with a cost of $3.3 billion, respectively. The cost includes excise tax and commissions of $55 million and $32 million in 2024 and 2023, respectively, and commissions of $4 million in 2022. As of December 31, 2024, we had approximately 75 million common shares remaining under the Board share repurchase authorization.
Common shares are generally retired by us upon repurchase (except for 2.2 million, 2.3 million and 2.4 million shares held as treasury shares as of December 31, 2024, 2023 and 2022, respectively); retired common shares and treasury shares are excluded from the shares outstanding in the table above. The treasury shares, with a cost basis of $243 million, $252 million and $262 million as of December 31, 2024, 2023 and 2022, respectively, are included as a reduction to Additional paid-in capital in Shareholders’ equity on the Consolidated Balance Sheets.
PREFERRED SHARES
The Board of Directors may authorize the issuance of up to 20 million preferred shares at a par value of $1.662/3 per share without further shareholder approval. We have the following perpetual Fixed Rate Reset Noncumulative Preferred Share series issued and outstanding as of December 31, 2024:
TABLE 16.2: PREFERRED SHARES ISSUED AND OUTSTANDING
 Series D
Issuance dateAugust 3, 2021
Securities issued
1,600 Preferred shares; represented by 1,600,000 depositary shares
Dividend rate per annum
3.55% through September 14, 2026; resets September 15, 2026 and every subsequent 5-year anniversary at 5-year Treasury rate plus 2.854%
Dividend payment dateQuarterly beginning September 15, 2021
Earliest redemption date
September 15, 2026
Aggregate liquidation preference$1,600 million
Carrying value (a)
$1,584 million
(a)Carrying value, presented in the Statements of Shareholders’ Equity, represents the issuance proceeds, net of underwriting fees and offering costs.
In the event of the voluntary or involuntary liquidation, dissolution or winding up of the Company, the preferred shares then outstanding take precedence over our common shares for the payment of dividends and the distribution of assets out of funds legally available for distribution to shareholders. We may redeem the outstanding series of preferred shares at $1 million per preferred share (equivalent to $1,000 per depositary share) plus any declared but unpaid dividends in whole or in part, from time to time, on any dividend payment date on or after the earliest redemption date, or in whole, but not in part, within 90 days of certain bank regulatory changes.
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Changes in Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2024
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 a balance sheet item in Shareholders’ equity on the Consolidated Balance Sheets. It 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 years ended December 31 were as follows:
TABLE 17.1: CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
As of or for the years ended December 31,
(Millions), net of tax
2024202320222021
Ending Balance
Net Change
Ending Balance
Net Change
Ending Balance
Net Change
 Ending Balance
Net Unrealized Gains (Losses) on Debt
Securities
$(9)$5 $(14)$50 $(64)$(87)$23 
Foreign Currency Translation Adjustment Gains (Losses), Net of Hedges (a)
(2,924)(353)(2,571)51 (2,622)(230)(2,392)
Net unrealized pension and other postretirement benefit gains (losses)
(462)25 (487)37 (524)52(576)
Accumulated other comprehensive income (loss)$(3,395)$(323)$(3,072)$138 $(3,210)$(265)$(2,945)
(a)Refer to Note 13 for additional information on hedging activity.
The following table shows the tax impact for the years ended December 31 for the changes in each component of AOCI presented above:
TABLE 17.2: TAX IMPACT FOR CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Tax expense (benefit)
(Millions)202420232022
Net unrealized gains (losses) on debt securities
$2 $16 $(27)
Foreign currency translation adjustment, net of hedges205 (158)75 
Pension and other postretirement benefits11 (3)27 
Total tax impact$218 $(145)$75 
Reclassifications out of AOCI into the Consolidated Statements of Income, net of taxes, for the years ended December 31, 2024, 2023 and 2022 were not significant.
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Service Fees and Other Revenue and Other Expenses
 12 Months Ended
Dec. 31, 2024
Service Fees and Other Revenue and Other Expenses [Abstract]  
Service Fees and Other Revenue and Other Expenses
SERVICE FEES AND OTHER REVENUE AND OTHER EXPENSES
The following is a detail of Service fees and other revenue for the years ended December 31:
TABLE 18.1: COMPONENTS OF SERVICE FEES AND OTHER REVENUE
(Millions)202420232022
Service fees$1,609 $1,518 $1,444 
Foreign currency-related revenue1,527 1,428 1,202 
Delinquency fees941 963 809 
Travel commissions and fees596 637 507 
Other fees and revenues
456 459 559 
Total Service fees and other revenue$5,129 $5,005 $4,521 
The following is a detail of Other expenses for the years ended December 31:
TABLE 18.2: COMPONENTS OF OTHER EXPENSE
(Millions)202420232022
Data processing and equipment$2,888 $2,805 $2,606 
Professional services2,274 2,029 2,074 
Gain on sale of Accertify (a)
(531)— — 
Other
1,733 1,973 1,801 
Total Other expenses$6,364 $6,807 $6,481 
(a)Refer to Note 1 for additional information.
v3.25.0.1
Restructuring
 12 Months Ended
Dec. 31, 2024
Restructuring Charges [Abstract]  
Restructuring
RESTRUCTURING
We periodically initiate restructuring programs to enhance our overall effectiveness and efficiency and to support new business strategies. These programs are generally completed within a year of when they are initiated. In connection with these programs, we will typically incur severance and other exit costs.
We had $217 million, $216 million and $135 million accrued in total restructuring reserves as of December 31, 2024, 2023 and 2022, respectively. Restructuring expense, which primarily relates to new severance charges, net of revisions to existing reserves, was $123 million, $179 million and $142 million for the years ended December 31, 2024, 2023 and 2022, respectively, and is included within Salaries and employee benefits within our Consolidated Statements of Income. The cumulative cost relating to restructuring programs initiated in 2024 or in prior years that were in progress during 2024 was $400 million. There were no programs initiated prior to 2022 that were still in progress during 2024. Cumulative amounts were not material to any reportable operating segment.
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Income Taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes
INCOME TAXES
The components of income tax expense for the years ended December 31 included in the Consolidated Statements of Income were as follows:
TABLE 20.1: COMPONENTS OF INCOME TAX EXPENSE
(Millions)202420232022
Current income tax expense:
U.S. federal$2,368 $2,455 $2,445 
U.S. state and local494 351 339 
Non-U.S.894 662 476 
Total current income tax expense3,756 3,468 3,260 
Deferred income tax (benefit) expense:
U.S. federal(797)(952)(763)
U.S. state and local(146)(139)(117)
Non-U.S.(47)(238)(309)
Total deferred income tax (benefit) expense(990)(1,329)(1,189)
Total income tax expense$2,766 $2,139 $2,071 
A reconciliation of the U.S. federal statutory rate of 21 percent as of December 31, 2024, 2023 and 2022, to our actual income tax rate was as follows:
TABLE 20.2: RECONCILIATION OF ACTUAL INCOME TAX RATE
 202420232022
U.S. statutory federal income tax rate21.0 %21.0 %21.0 %
(Decrease) increase in taxes resulting from:
Tax credits and tax-exempt income
(0.7)(0.7)(0.9)
State and local income taxes, net of federal benefit2.5 2.4 3.1 
Non-U.S. subsidiaries’ earnings (a)
(1.0)(0.8)(0.1)
Tax settlements and lapse of statute of limitations
(0.5)(2.0)(2.1)
Valuation allowances
— 0.1 (0.1)
Other0.2 0.3 0.7 
Actual tax rates21.5 %20.3 %21.6 %
(a)In certain jurisdictions outside the United States, we benefit from agreements that temporarily lower our income tax expense. The impact of these agreements was not material to our Consolidated Statements of Income.
We record a deferred income tax (benefit) provision when there are differences between assets and liabilities measured for financial reporting and for income tax return purposes. These temporary differences result in taxable or deductible amounts in future years and are measured using the tax rates and laws that will be in effect when such differences are expected to reverse.
The significant components of deferred tax assets and liabilities as of December 31 are reflected in the following table:
TABLE 20.3: COMPONENTS OF DEFERRED TAX ASSETS AND LIABILITIES
(Millions)20242023
Deferred tax assets:
Reserves not yet deducted for tax purposes$4,950 $4,552 
Employee compensation and benefits343 335 
Net operating loss and tax credit carryforwards464 466 
Capitalized developed software
1,084 743 
Other853 723 
Gross deferred tax assets7,694 6,819 
Valuation allowance(655)(614)
Deferred tax assets after valuation allowance7,039 6,205 
Deferred tax liabilities:
Intangibles and fixed assets673 683 
Deferred revenue— 62 
Deferred interest113 114 
Other579 566 
Gross deferred tax liabilities1,365 1,425 
Net deferred tax assets$5,674 $4,780 
The net operating loss and tax credit carryforward balance as of December 31, 2024, shown in the table above, is related to pre-tax U.S. federal and non-U.S. net operating loss (NOL) carryforwards of $10 million and $1.2 billion, respectively, and foreign tax credit (FTC) carryforwards of $137 million. If not utilized, certain U.S. federal and non-U.S. NOL carryforwards will expire between 2025 and 2032, whereas others have an unlimited carryforward period. The FTC carryforwards will expire between 2029 and 2034.
A valuation allowance is established when management determines that it is more likely than not that all or some portion of the benefit of the deferred tax assets will not be realized. The valuation allowances for both periods presented above are associated with certain non-U.S. deferred tax assets, state NOLs, and FTC carryforwards.
Accumulated earnings of certain non-U.S. subsidiaries, which totaled approximately $1.2 billion as of December 31, 2024, are intended to be permanently reinvested outside the U.S. We do not provide for state income and foreign withholding taxes on foreign earnings intended to be permanently reinvested outside the U.S. Accordingly, state income and foreign withholding taxes, which would have aggregated to approximately $0.1 billion as of December 31, 2024, have not been provided on those earnings.
Net income taxes paid by us during 2024, 2023 and 2022, were approximately $3.6 billion, $3.3 billion and $3.0 billion, respectively. These amounts include estimated tax payments and cash settlements relating to prior tax years.
We are subject to the income tax laws of the United States, its states and municipalities and those of the foreign jurisdictions in which we operate. These tax laws are complex, and the manner in which they apply to the taxpayer’s facts is sometimes open to interpretation. Given these inherent complexities, we must make judgments in assessing the likelihood that a tax position will be sustained upon examination by the taxing authorities based on the technical merits of the tax position. A tax position is recognized only when, based on management’s judgment regarding the application of income tax laws, it is more likely than not that the tax position will be sustained upon examination. The amount of benefit recognized for financial reporting purposes is based on management’s best judgment of the largest amount of benefit that is more likely than not to be realized on ultimate settlement with the taxing authority given the facts, circumstances and information available at the reporting date. We adjust the level of unrecognized tax benefits when there is new information available to assess the likelihood of the outcome.
We are under continuous examination by the Internal Revenue Service (IRS) and tax authorities in other countries and states in which we have significant business operations. The tax years under examination and open for examination vary by jurisdiction. We are currently under examination by the IRS for the 2017 and 2018 tax years.
In December 2024, we received a Notice of Proposed Adjustment (Notice) from the IRS regarding transfer pricing between our U.S. and foreign subsidiaries for the 2017 and 2018 tax years currently under examination. The Notice proposes an increase to our U.S. taxable income that would result in an additional estimated U.S. federal income tax payment of approximately $185 million for 2017 and 2018, excluding interest and state income taxes, and asserts penalties of approximately $50 million for the same period. Although the Notice only applies to the 2017 and 2018 tax years currently under examination, the IRS may seek similar adjustments for subsequent tax years.
We strongly disagree with the IRS’s positions and plan to pursue all available remedies to vigorously contest the adjustments made by the IRS. We believe our income tax reserves are appropriate for all open tax years and that final resolution of this matter will not have a material impact on our results of operations. However, the ultimate outcome of this matter is uncertain, and if we are required to pay the IRS additional U.S. taxes, interest and/or potential penalties, our results of operations could be materially affected for the period in which the matter is resolved.
The following table presents changes in unrecognized tax benefits:
TABLE 20.4: ROLLFORWARD OF UNRECOGNIZED TAX BENEFITS
(Millions)202420232022
Balance, January 1$875 $962 $1,024 
Increases:
Current year tax positions161 132 119 
Tax positions related to prior years47 40 30 
Decreases:
Tax positions related to prior years
(4)(50)(30)
Settlements with tax authorities
(39)(160)(74)
Lapse of statute of limitations(21)(49)(104)
Effects of foreign currency translations(13)— (3)
Balance, December 31$1,006 $875 $962 
Included in the unrecognized tax benefits of $1.0 billion, $0.9 billion and $1.0 billion for December 31, 2024, 2023 and 2022, respectively, are approximately $780 million, $670 million and $750 million, respectively, that, if recognized, would favorably affect the effective tax rate in a future period.
We believe it is reasonably possible that our unrecognized tax benefits could decrease within the next twelve months by as much as $107 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 $107 million of unrecognized tax benefits, approximately $84 million relates to amounts that, if recognized, would impact the effective tax rate in a future period.
Interest and penalties relating to unrecognized tax benefits are reported in the income tax provision. For the years ended December 31, 2024, 2023 and 2022, we recognized approximately $110 million, $30 million and $10 million, respectively, in expenses for interest and penalties.
We had approximately $500 million and $410 million accrued for the payment of interest and penalties as of December 31, 2024 and 2023, respectively.
v3.25.0.1
Earnings Per Common Share (EPS)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Common Share (EPS)
EARNINGS PER COMMON SHARE (EPS)
EPS is calculated using the two-class method. Under the two-class method, all earnings (distributed and undistributed) are allocated to common shares and participating securities. Undistributed earnings are calculated after deducting dividends on preferred shares, common shares and RSUs. RSUs granted under our 2016 Incentive Compensation Plan entitle recipients to receive nonforfeitable dividends during the vesting period on a basis equivalent to dividends on common shares. These unvested awards meet the definition of participating securities based on their respective rights to receive nonforfeitable dividends, and they are treated as a separate class of securities and are not included in computing basic EPS. Diluted EPS is also calculated under the treasury stock method and the more dilutive amount is reported. Participating securities are not included as incremental shares in computing diluted EPS.
The computations of basic and diluted EPS for the years ended December 31 were as follows:
TABLE 21.1: COMPUTATION OF BASIC AND DILUTED EARNINGS PER SHARE
(Millions, except per share amounts)
202420232022
Numerator:
Basic and diluted:
Net income
$10,129 $8,374 $7,514 
Preferred dividends(58)(58)(57)
Net income available to common shareholders10,071 8,316 7,457 
Earnings allocated to participating share awards
(76)(64)(57)
Net income attributable to common shareholders
$9,995 $8,252 $7,400 
Denominator:
Basic: Weighted-average common stock
712 735 751 
Add: Weighted-average stock options (a)
1 1 1 
Diluted
713 736 752 
Basic EPS
$14.04 $11.23 $9.86 
Diluted EPS$14.01 $11.21 $9.85 
(a)The dilutive effect of unexercised stock options excludes from the computation of EPS 0.05 million, 1.38 million and 0.39 million of options for the years ended December 31, 2024, 2023 and 2022, respectively, because inclusion of the options would have been anti-dilutive.
v3.25.0.1
Regulatory Matters and Capital Adequacy
 12 Months Ended
Dec. 31, 2024
Regulatory Matters And Capital Adequacy [Abstract]  
Regulatory Matters and Capital Adequacy
REGULATORY MATTERS AND CAPITAL ADEQUACY
We are supervised and regulated by the Federal Reserve and are subject to the Federal Reserve’s requirements for risk-based capital and leverage ratios. Our U.S. bank subsidiary, AENB, is subject to supervision and regulation, including regulatory capital and leverage requirements, by the OCC.
Under the risk-based capital guidelines of the Federal Reserve, we are required to maintain minimum ratios of CET1, Tier 1 and Total (Tier 1 plus Tier 2) capital to risk-weighted assets, as well as a minimum Tier 1 leverage ratio (Tier 1 capital to average adjusted on-balance sheet assets) and a supplementary leverage ratio (SLR) (Tier 1 capital to both on-balance sheet and certain off-balance sheet exposures).
Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional, discretionary actions by regulators, that, if undertaken, could have a direct material effect on our operating activities.
As of December 31, 2024 and 2023, we met all capital requirements to which we were subject and maintained regulatory capital ratios in excess of those required to qualify as well capitalized.
The following table presents the regulatory capital ratios:
TABLE 22.1: REGULATORY CAPITAL RATIOS
(Millions, except percentages)CET 1
capital		Tier 1 capitalTotal capitalCET 1 capital
ratio		Tier 1 capital
ratio		Total capital
ratio		Tier 1 leverage
ratio		Supplementary
Leverage
Ratio
December 31, 2024: (a)
American Express Company$24,860 $26,405 $31,127 10.5 %11.2 %13.2 %9.8 %8.3 %
American Express National Bank$18,748 $18,748 $21,289 11.6 %11.6 %13.2 %9.6 %8.0 %
December 31, 2023: (a)
American Express Company$23,174 $24,779 $28,784 10.5 %11.3 %13.1 %9.9 %(b)
American Express National Bank$17,038 $17,038 $19,548 11.6 %11.6 %13.3 %9.5 %(b)
Well-capitalized ratios (c)
American Express CompanyN/A6.0 %10.0 %N/AN/A
American Express National Bank6.5 %8.0 %10.0 %5.0 %N/A
Minimum capital ratios (d)
4.5 %6.0 %8.0 %4.0 %3.0 %
Effective Minimum (e)
American Express Company7.0 %8.5 %10.5 %4.0 %3.0 %
American Express National Bank7.0 %8.5 %10.5 %4.0 %3.0 %
(a)Capital ratios reported using Basel III capital definitions and risk-weighted assets using the Basel III standardized approach.
(b)We became a Category III firm in the third quarter of 2024 and thus are subject to a minimum SLR of 3 percent beginning with the fourth quarter of 2024.
(c)Represents requirements for bank holding companies and banking subsidiaries to be considered “well capitalized” pursuant to regulations issued under the Federal Reserve Regulation Y and the Federal Deposit Insurance Corporation Improvement Act, respectively. There is no CET1 capital ratio, Tier 1 leverage ratio or SLR requirement for a bank holding company to be considered “well capitalized.”
(d)As defined by the regulations issued by the Federal Reserve and OCC.
(e)Represents Basel III minimum capital requirement and applicable regulatory buffers as defined by the federal banking regulators, which includes the stress capital buffer for American Express Company and the capital conservation buffer for American Express National Bank.
RESTRICTED NET ASSETS OF SUBSIDIARIES
Certain of our subsidiaries are subject to restrictions on the transfer of net assets under debt agreements and regulatory requirements. These restrictions have not had any effect on our shareholder dividend policy and management does not anticipate any impact in the future. Procedures exist to transfer net assets between the Company and its subsidiaries, while ensuring compliance with the various contractual and regulatory constraints. As of December 31, 2024, the aggregate amount of net assets of subsidiaries that are restricted to be transferred was approximately $15.3 billion.
BANK HOLDING COMPANY DIVIDEND RESTRICTIONS
We are limited in our ability to pay dividends by the Federal Reserve, which could prohibit a dividend that would be considered an unsafe or unsound banking practice. It is the policy of the Federal Reserve that bank holding companies generally should pay dividends on preferred and common stock only out of net income available to common shareholders generated over the past year, and only if prospective earnings retention is consistent with the organization’s current and expected future capital needs, asset quality and overall financial condition. Moreover, bank holding companies are required by statute to be a source of strength to their insured depository institution subsidiaries and should not maintain dividend levels that undermine their ability to do so. On an annual basis, we are required to develop and maintain a capital plan, which includes planned dividends. We may be subject to limitations and restrictions on our dividends, if, among other things, (i) our regulatory capital ratios do not satisfy applicable minimum requirements and buffers or (ii) we are required to resubmit our capital plan.
BANK DIVIDEND RESTRICTIONS
In the year ended December 31, 2024, AENB paid dividends from retained earnings to its parent of $5.0 billion. AENB is limited in its ability to pay dividends by banking statutes, regulations and supervisory policy. In general, applicable federal and state banking laws prohibit, without first obtaining regulatory approval, insured depository institutions, such as AENB, from making dividend distributions if such distributions are not paid out of available retained earnings or would cause the institution to fail to meet capital adequacy standards. If AENB’s risk-based capital ratios do not satisfy minimum regulatory requirements and applicable buffers, it will face graduated constraints on dividends and other capital distributions. In determining the dividends to pay its parent, AENB must also consider the effects on applicable risk-based capital and leverage ratio requirements, as well as policy statements of the federal regulatory agencies. In addition, AENB’s banking regulators have authority to limit or prohibit the payment of a dividend by AENB under a number of circumstances, including if, in the banking regulator’s opinion, payment of a dividend would constitute an unsafe or unsound banking practice in light of the financial condition of the banking organization.
v3.25.0.1
Significant Credit Concentrations
 12 Months Ended
Dec. 31, 2024
Risks and Uncertainties [Abstract]  
Significant Credit Concentrations
SIGNIFICANT CREDIT CONCENTRATIONS
Concentrations of credit risk exist when changes in economic, industry or geographic factors similarly affect groups of counterparties whose aggregate credit exposure is material in relation to American Express’ total credit exposure. Our customers operate in diverse industries, economic sectors and geographic regions.
The following table details our maximum credit exposure of the on-balance sheet assets by category as of December 31:
TABLE 23.1: MAXIMUM CREDIT EXPOSURE OF ON-BALANCE SHEET ASSETS
(Billions)20242023
Individuals: (a)
$194 $178 
United States160 145 
Outside the United States (b)
34 33 
Institutions:
Financial services (c)
9 12 
Other (d)
17 17 
Federal Reserve Bank
35 37 
U.S. Government and agencies (e)
— 1 
Total on-balance sheet$255 $245 
(a)Primarily reflects loans and receivables from global consumer and small business Card Members, which are governed by individual credit risk management.
(b)The geographic regions with the largest concentration outside the United States include the United Kingdom, Japan, the European Union, Australia, Canada and Mexico.
(c)Represents banks, broker-dealers, insurance companies and savings and loan associations, which are governed by institutional credit risk management.
(d)Primarily reflects loans and receivables from global corporate Card Members, which are governed by institutional credit risk management.
(e)Represent debt obligations of the U.S. Government and its agencies, states and municipalities and government-sponsored entities. Risk management for these balances is governed by our Asset and Liability Management Committee.
As of December 31, 2024 and 2023, our most significant concentration of credit risk was with individuals. These amounts are generally advanced on an unsecured basis. However, we review each potential customer’s credit application and evaluate the applicant’s financial history and ability and willingness to repay. We also consider credit performance by customer tenure, industry and geographic location in managing credit exposure.
As of December 31, 2024, we had approximately $468 billion of unused credit available to customers, approximately 80 percent of which was related to customers within the United States. Total unused credit does not represent potential future cash requirements, as a significant portion of this unused credit will likely not be drawn. Charge card products with no pre-set spending limits are not reflected in unused credit.
v3.25.0.1
Reportable Operating Segments and Geographic Operations
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Reportable Operating Segments and Geographic Operations
REPORTABLE OPERATING SEGMENTS AND GEOGRAPHIC OPERATIONS
REPORTABLE OPERATING SEGMENTS
We consider a combination of factors when evaluating the composition of our reportable operating segments, including the results regularly provided to our Chief Executive Officer, who is our chief operating decision maker (CODM), economic characteristics, products and services offered, classes of customers, product distribution channels, geographic considerations (primarily United States versus outside the United States), and regulatory environment considerations.
The following is a brief description of the primary business activities of our four reportable operating segments:
•U.S. Consumer Services (USCS), which issues a wide range of proprietary consumer cards and provides services to U.S. consumers, including travel and lifestyle services as well as banking and non-card financing products. USCS also manages our dining platform that provides digital tools for restaurants and reservation bookings for diners.
•Commercial Services (CS), which issues a wide range of proprietary corporate and small business cards and provides services to U.S. businesses, including payment and expense management, banking and non-card financing products. CS also issues proprietary corporate cards and provides services to select global corporate clients.
•International Card Services (ICS), which issues a wide range of proprietary consumer, small business and corporate cards outside the United States. ICS also provides services to our international customers, including travel and lifestyle services, and manages certain international joint ventures and our loyalty coalition business.
•Global Merchant and Network Services (GMNS), which operates a global payments network that processes and settles card transactions, acquires merchants and provides multi-channel marketing programs and capabilities, services and data analytics, leveraging our global integrated network. GMNS manages our partnership relationships with third-party card issuers, merchant acquirers and a prepaid reloadable and gift card program manager, licensing the American Express brand and extending the reach of the global network.
Corporate functions and certain other businesses and operations are included in Corporate & Other.
Pretax income is used by our CODM to assess the relative performance of our operating segments and their contribution to enterprise profitability. Decisions on resource allocation by operating segment are made at the enterprise level as a function of strategic priority, operational requirements and expected return on investment of growth opportunities. The following tables present certain selected financial information for our reportable operating segments and Corporate & Other as of or for the years ended December 31, 2024, 2023 and 2022.
TABLE 24.1: SELECTED FINANCIAL INFORMATION BY SEGMENT
(Millions)
USCSCSICSGMNS
Corporate & Other (a)
Consolidated
2024
Total non-interest revenues$20,137 $13,219 $10,369 $6,729 $(48)$50,406 
Revenue from contracts with customers (b)
14,481 11,559 6,766 6,051 (32)38,825 
Interest income14,430 4,374 2,331 52 2,608 23,795 
Interest expense3,140 1,734 1,239 (703)2,842 8,252 
Net interest income11,290 2,640 1,092 755 (234)15,543 
Total revenues net of interest expense31,427 15,859 11,461 7,484 (282)65,949 
Provisions for credit losses
3,029 1,389 726 42 (1)5,185 
Total revenues net of interest expense after provisions for credit losses
28,398 14,470 10,735 7,442 (281)60,764 
Expenses
Card Member rewards, business development and Card Member services (c)
14,329 6,504 5,243 1,148 43 27,267 
Marketing
3,051 1,319 1,235 411 24 6,040 
Salaries and employee benefits and other operating expenses
4,641 3,142 3,226 1,485 2,068 14,562 
Total expenses
22,021 10,965 9,704 3,044 2,135 47,869 
Pretax income (loss)$6,377 $3,505 $1,031 $4,398 $(2,416)$12,895 
Total assets
$114,228 $58,969 $42,879 $17,712 $37,673 $271,461 
(Millions)
USCSCSICSGMNS
Corporate & Other (a)
Consolidated
2023
Total non-interest revenues$18,464 $12,931 $9,472 $6,620 $(106)$47,381 
Revenue from contracts with customers (b)
13,715 11,379 6,155 6,006 (37)37,218 
Interest income12,336 3,328 2,076 57 2,186 19,983 
Interest expense2,684 1,483 1,118 (719)2,283 6,849 
Net interest income9,652 1,845 958 776 (97)13,134 
Total revenues net of interest expense28,116 14,776 10,430 7,396 (203)60,515 
Provisions for credit losses
2,855 1,313 727 27 1 4,923 
Total revenues net of interest expense after provisions for credit losses
25,261 13,463 9,703 7,369 (204)55,592 
Expenses
Card Member rewards, business development and Card Member services (c)
12,808 6,332 4,588 1,218 46 24,992 
Marketing
2,585 1,090 1,081 437 20 5,213 
Salaries and employee benefits and other operating expenses
4,435 3,180 3,061 2,058 2,140 14,874 
Total expenses
19,828 10,602 8,730 3,713 2,206 45,079 
Pretax income (loss)$5,433 $2,861 $973 $3,656 $(2,410)$10,513 
Total assets
$107,158 $55,361 $42,234 $23,714 $32,641 $261,108 
(Millions)USCSCSICSGMNS
Corporate & Other (a)
Consolidated
2022
Total non-interest revenues$16,440 $12,196 $8,262 $6,123 $(54)$42,967 
Revenue from contracts with customers (b)
12,478 10,844 5,301 5,603 (7)34,219 
Interest income8,457 2,070 1,453 23 655 12,658 
Interest expense983 697 654 (329)758 2,763 
Net interest income7,474 1,373 799 352 (103)9,895 
Total revenues net of interest expense23,914 13,569 9,061 6,475 (157)52,862 
Provisions for credit losses
1,021 565 584 7 5 2,182 
Total revenues net of interest expense after provisions for credit losses
22,893 13,004 8,477 6,468 (162)50,680 
Expenses
Card Member rewards, business development and Card Member services (c)
10,791 6,116 3,816 1,192 (11)21,904 
Marketing
2,744 1,122 1,146 419 27 5,458 
Salaries and employee benefits and other operating expenses
3,958 2,886 2,937 1,903 2,049 13,733 
Total expenses
17,493 10,124 7,899 3,514 2,065 41,095 
Pretax income (loss)$5,400 $2,880 $578 $2,954 $(2,227)$9,585 
Total assets
$94,444 $51,411 $36,891 $20,005 $25,603 $228,354 
(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.
(c)Card Member rewards, business development and Card Member services expenses are generally correlated to volumes or are variable based on usage.
Total Revenues Net of Interest Expense
We allocate discount revenue and certain other revenues among segments using a transfer pricing methodology. Within the USCS, CS and ICS segments, discount revenue generally reflects the issuer component of the overall discount revenue generated by each segment’s Card Members; within the GMNS segment, discount revenue generally reflects the network and acquirer component of the overall discount revenue being allocated.
Net card fees, processed revenue and certain other revenues are directly attributable to the segment in which they are reported.
Interest and fees on loans and certain investment income is directly attributable to the segment in which it is reported. Interest expense represents an allocated funding cost based on a combination of segment funding requirements and internal funding rates.
Provisions for Credit Losses
The provisions for credit losses are directly attributable to the segment in which they are reported.
Expenses
Card Member rewards, Business development and Card Member services expenses, as well as Marketing expenses, are generally included in each segment based on the actual expenses incurred. Global brand advertising, a component of Marketing expense, is primarily allocated to the segments based on the relative levels of revenue.
Salaries and employee benefits and other operating expenses reflect both costs incurred directly within each segment, as well as allocated expenses. The allocated expenses include service costs, which primarily reflect salaries and benefits associated with our technology and customer servicing groups, and overhead expenses. Service costs are allocated based on activities directly attributable to the segment, and overhead expenses are allocated based on the relative levels of revenue and Card Member loans and receivables.
GEOGRAPHIC OPERATIONS
The following table presents our total revenues net of interest expense and pretax income (loss) from continuing operations in different geographic regions based, in part, upon internal allocations, which necessarily involve management’s judgment.
TABLE 24.2: SUMMARY OF TOTAL REVENUE AND PRETAX INCOME BY REGION
(Millions)United States
EMEA(a)
APAC(a)
LACC(a)
Other Unallocated(b)
Consolidated
2024
Total revenues net of interest expense$51,471 $6,216 $4,698 $3,845 $(281)$65,949 
Pretax income (loss) from continuing operations12,919 935 656 803 (2,418)12,895 
2023
Total revenues net of interest expense$47,140 $5,633 $4,372 $3,571 $(201)$60,515 
Pretax income (loss) from continuing operations10,717 854 592 760 (2,410)10,513 
2022
Total revenues net of interest expense$41,396 $4,871 $3,835 $2,917 $(157)$52,862 
Pretax income (loss) from continuing operations10,383 550 376 500 (2,224)9,585 
(a)EMEA represents Europe, the Middle East and Africa; APAC represents Asia Pacific, Australia and New Zealand; and LACC represents Latin America, Canada and the Caribbean.
(b)Other Unallocated includes net costs which are not directly allocated to specific geographic regions, including costs related to the net negative interest spread on excess liquidity funding and executive office operations expenses.
v3.25.0.1
Parent Company
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Parent Company
PARENT COMPANY
TABLE 25.1: PARENT COMPANY – CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Years Ended December 31 (Millions)
202420232022
Revenues
Non-interest revenues
Other$390 $407 $388 
Total non-interest revenues390 407 388 
Interest income1,858 1,558 614 
Interest expense1,869 1,436 857 
Total revenues net of interest expense379 529 145 
Expenses
Salaries and employee benefits474 487 408 
Other385 408 372 
Total expenses859 895 780 
Loss before income tax and equity in net income of subsidiaries
(480)(366)(635)
Income tax benefit(126)(163)(244)
Equity in net income of subsidiaries and affiliates10,483 8,577 7,905 
Net income$10,129 $8,374 $7,514 
Net unrealized pension and other postretirement benefits, net of tax41 5 10 
Other comprehensive income (loss), net
(364)133 (275)
Comprehensive income$9,806 $8,512 $7,249 
TABLE 25.2: PARENT COMPANY – CONDENSED BALANCE SHEETS
As of December 31 (Millions)
20242023
Assets  
Cash and cash equivalents$7,293 $9,652 
Equity in net assets of subsidiaries and affiliates30,165 28,019 
Loans to subsidiaries and affiliates28,897 25,471 
Due from subsidiaries and affiliates1,291 1,261 
Other assets573 349 
Total assets68,219 64,752 
Liabilities and Shareholders’ Equity
Liabilities
Accounts payable and other liabilities2,239 2,188 
Due to subsidiaries and affiliates404 555 
Long-term debt35,312 33,952 
Total liabilities37,955 36,695 
Shareholders’ Equity
Total shareholders’ equity30,264 28,057 
Total liabilities and shareholders’ equity$68,219 $64,752 
TABLE 25.3: PARENT COMPANY – CONDENSED STATEMENTS OF CASH FLOWS
Years Ended December 31 (Millions)
202420232022
Cash Flows from Operating Activities
Net income$10,129 $8,374 $7,514 
Adjustments to reconcile net income to cash provided by operating activities:
Equity in net income of subsidiaries and affiliates(10,483)(8,577)(7,905)
Dividends received from subsidiaries and affiliates8,027 5,326 5,549 
Other operating activities, primarily with subsidiaries and affiliates14 360 160 
Net cash provided by operating activities7,687 5,483 5,318 
Cash Flows from Investing Activities
Net increase in loans to subsidiaries and affiliates(3,449)(2,836)(4,850)
Investments in subsidiaries and affiliates(55)— (1)
Other investing activities5 — — 
Net cash used in investing activities(3,499)(2,836)(4,851)
Cash Flows from Financing Activities
Net decrease in short-term debt from subsidiaries and affiliates— — (136)
Proceeds from long-term debt8,872 9,969 13,202 
Payments of long-term debt(7,500)(5,750)(5,675)
Issuance of American Express common shares 100 28 56 
Repurchase of American Express common shares and other(6,020)(3,650)(3,502)
Dividends paid(1,999)(1,780)(1,565)
Net cash (used in) provided by financing activities(6,547)(1,183)2,380 
Net (decrease) increase in cash and cash equivalents(2,359)1,464 2,847 
Cash and cash equivalents at beginning of year9,652 8,188 5,341 
Cash and cash equivalents at end of year$7,293 $9,652 $8,188 
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net income $ 10,129 $ 8,374 $ 7,514
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended 12 Months Ended
Dec. 31, 2024
shares
Dec. 31, 2024
shares
Trading Arrangements, by Individual    
Non-Rule 10b5-1 Arrangement Adopted false  
Rule 10b5-1 Arrangement Terminated false  
Non-Rule 10b5-1 Arrangement Terminated false  
Anna Marrs [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement   On December 3, 2024, Anna Marrs, our Group President, Global Merchant and Network Services, entered into a Rule 10b5-1 trading arrangement (as defined in Item 408 of Regulation S-K under the Exchange Act), which is scheduled to expire no later than September 30, 2025. Up to 21,955 shares may be sold on the open market in accordance with the terms of Ms. Marrs’s trading arrangement.
Name Anna Marrs  
Title Group President, Global Merchant and Network Services  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date December 3, 2024  
Expiration Date September 30, 2025  
Arrangement Duration 301 days  
Aggregate Available 21,955 21,955
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We define information security and cybersecurity risk as the risk that the confidentiality, integrity or availability of our information and information systems are impacted by unauthorized or unintended access, use, disclosure, disruption, modification or destruction. Information security and cybersecurity risk is an operational risk that is measured and managed as part of our operational risk framework. Operational risk is incorporated into our comprehensive Enterprise Risk Management (ERM) program, which we use to identify, aggregate, monitor, report and manage risks. For more information on our ERM program, see “Risk Management” under “MD&A.”
Our Technology Risk and Information Security (TRIS) program, which is our enterprise information security and cybersecurity program incorporated in our ERM program and led by our Chief Information Security Officer (CISO), is designed to (i) ensure the security, confidentiality, integrity and availability of our information and information systems; (ii) protect against any anticipated threats or hazards to the security, confidentiality, integrity or availability of such information and information systems; and (iii) protect against unauthorized access to or use of such information or information systems that could result in substantial harm or inconvenience to us, our colleagues or our customers. The TRIS program is built upon a foundation of advanced security technology, employs a highly trained team of experts and is designed to operate in alignment with global regulatory requirements. The program deploys multiple layers of controls, including embedding security into our technology investments, designed to identify, protect, detect, respond to and recover from information security and cybersecurity incidents. Those controls are measured and monitored by a combination of subject matter experts and a security operations center with integrated cyber detection, response and recovery capabilities. The TRIS program includes our Enterprise Incident Response Program, which manages information security incidents involving compromises of sensitive information, and our Cyber Crisis Response Plan, which provides a documented framework for handling high-severity security incidents and facilitates coordination across multiple parts of the Company to manage response efforts. We also routinely perform simulations and drills at both a technical and management level, and our colleagues receive annual cybersecurity awareness training.
In addition, we incorporate reviews by our Internal Audit Group and external expertise in our TRIS program, including an independent third-party assessment of our cybersecurity measures and controls and a third-party cyber maturity assessment of our TRIS program against the Cyber Risk Institute Profile standards for the financial sector. We also invest in threat intelligence, collaborate with our peers in areas of threat intelligence, vulnerability management, incident response and drills, and are active participants in industry and government forums.
Cybersecurity risks related to third parties are managed as part of our Third Party Management Policy, which sets forth the procurement, risk management and contracting framework for managing third-party relationships commensurate with their risk and complexity. Our Third Party Lifecycle Management (TLM) program sets guidelines for identifying, measuring, monitoring, and reporting the risks associated with third parties through the life cycle of the relationships, which includes planning, due diligence and third-party selection, contracting, ongoing monitoring and termination. Our TLM program includes the identification of third parties with risks related to information security. Third parties that access, process, collect, share, create, store, transmit or destroy our information or have access to our systems may have additional security requirements depending on the levels of risk, such as enhanced risk assessments and monitoring, and additional contractual controls.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
We define information security and cybersecurity risk as the risk that the confidentiality, integrity or availability of our information and information systems are impacted by unauthorized or unintended access, use, disclosure, disruption, modification or destruction. Information security and cybersecurity risk is an operational risk that is measured and managed as part of our operational risk framework. Operational risk is incorporated into our comprehensive Enterprise Risk Management (ERM) program, which we use to identify, aggregate, monitor, report and manage risks. For more information on our ERM program, see “Risk Management” under “MD&A.”
Our Technology Risk and Information Security (TRIS) program, which is our enterprise information security and cybersecurity program incorporated in our ERM program and led by our Chief Information Security Officer (CISO), is designed to (i) ensure the security, confidentiality, integrity and availability of our information and information systems; (ii) protect against any anticipated threats or hazards to the security, confidentiality, integrity or availability of such information and information systems; and (iii) protect against unauthorized access to or use of such information or information systems that could result in substantial harm or inconvenience to us, our colleagues or our customers. The TRIS program is built upon a foundation of advanced security technology, employs a highly trained team of experts and is designed to operate in alignment with global regulatory requirements. The program deploys multiple layers of controls, including embedding security into our technology investments, designed to identify, protect, detect, respond to and recover from information security and cybersecurity incidents. Those controls are measured and monitored by a combination of subject matter experts and a security operations center with integrated cyber detection, response and recovery capabilities. The TRIS program includes our Enterprise Incident Response Program, which manages information security incidents involving compromises of sensitive information, and our Cyber Crisis Response Plan, which provides a documented framework for handling high-severity security incidents and facilitates coordination across multiple parts of the Company to manage response efforts. We also routinely perform simulations and drills at both a technical and management level, and our colleagues receive annual cybersecurity awareness training.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] Under our cybersecurity governance framework, our Board and Risk Committee are primarily responsible for overseeing and governing the development, implementation and maintenance of our TRIS program, with our Board designating our Risk Committee to provide oversight and governance of technology and cybersecurity risks.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Under our cybersecurity governance framework, our Board and Risk Committee are primarily responsible for overseeing and governing the development, implementation and maintenance of our TRIS program, with our Board designating our Risk Committee to provide oversight and governance of technology and cybersecurity risks.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Our Board receives an update on cybersecurity at least once a year from our CISO or their designee. Our Risk Committee receives reports on cybersecurity at least twice a year, including in at least one joint meeting with our Audit and Compliance Committee, and our Board and these committees all receive ad hoc updates as needed. In addition, our Risk Committee annually approves our TRIS program.Our CISO leads the strategy, engineering and operations of cybersecurity across the Company and is responsible for providing annual updates to our Board, the ERMC and the ORMC on our TRIS program, as well as ad hoc updates on information security and cybersecurity matters.
Cybersecurity Risk Role of Management [Text Block]
We have multiple internal management committees that are responsible for the oversight of cybersecurity risk. Our Operational Risk Management Committee (ORMC), chaired by our Chief Operational Risk Officer, provides oversight and governance for our information security risk management activities, including those related to cybersecurity. This includes efforts to identify, measure, manage, monitor and report information security risks associated with our information and information systems and potential impacts to the American Express brand. The ORMC escalates risks to our Enterprise Risk Management Committee (ERMC), chaired by our Chief Risk Officer, or our Board based on the escalation criteria provided in our enterprise-wide risk appetite framework. Members of management with cybersecurity oversight responsibilities are informed about cybersecurity risks and incidents through a number of channels, including periodic and annual reports, with the annual report also provided to our Risk Committee, the ORMC and ERMC.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
We have multiple internal management committees that are responsible for the oversight of cybersecurity risk. Our Operational Risk Management Committee (ORMC), chaired by our Chief Operational Risk Officer, provides oversight and governance for our information security risk management activities, including those related to cybersecurity. This includes efforts to identify, measure, manage, monitor and report information security risks associated with our information and information systems and potential impacts to the American Express brand. The ORMC escalates risks to our Enterprise Risk Management Committee (ERMC), chaired by our Chief Risk Officer, or our Board based on the escalation criteria provided in our enterprise-wide risk appetite framework. Members of management with cybersecurity oversight responsibilities are informed about cybersecurity risks and incidents through a number of channels, including periodic and annual reports, with the annual report also provided to our Risk Committee, the ORMC and ERMC.
Our CISO leads the strategy, engineering and operations of cybersecurity across the Company and is responsible for providing annual updates to our Board, the ERMC and the ORMC on our TRIS program, as well as ad hoc updates on information security and cybersecurity matters.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our current CISO has held a series of roles in telecommunications, networking and information security at American Express, including promotion to the CISO role in 2013, and is also responsible for technology risk management. Prior to joining American Express, our current CISO served in a variety of technology leadership roles at a public pharmaceutical and biotechnology company for 14 years. Our CISO reports to the Chief Information Officer, information about whom is included in “Information About Our Executive Officers” under “Business.”
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
We have multiple internal management committees that are responsible for the oversight of cybersecurity risk. Our Operational Risk Management Committee (ORMC), chaired by our Chief Operational Risk Officer, provides oversight and governance for our information security risk management activities, including those related to cybersecurity. This includes efforts to identify, measure, manage, monitor and report information security risks associated with our information and information systems and potential impacts to the American Express brand. The ORMC escalates risks to our Enterprise Risk Management Committee (ERMC), chaired by our Chief Risk Officer, or our Board based on the escalation criteria provided in our enterprise-wide risk appetite framework. Members of management with cybersecurity oversight responsibilities are informed about cybersecurity risks and incidents through a number of channels, including periodic and annual reports, with the annual report also provided to our Risk Committee, the ORMC and ERMC.
Our CISO leads the strategy, engineering and operations of cybersecurity across the Company and is responsible for providing annual updates to our Board, the ERMC and the ORMC on our TRIS program, as well as ad hoc updates on information security and cybersecurity matters.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Principles of Consolidation
PRINCIPLES OF CONSOLIDATION
The Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). Significant intercompany transactions are eliminated.
We consolidate entities in which we hold a “controlling financial interest.” For voting interest entities, we are considered to hold a controlling financial interest when we are able to exercise control over the investees’ operating and financial decisions. For variable interest entities (VIEs), the determination of which is based on the amount and characteristics of the entity’s equity, we are considered to hold a controlling financial interest when we are determined to be the primary beneficiary. A primary beneficiary is the party that has both: (1) the power to direct the activities that most significantly impact that VIE’s economic performance, and (2) the obligation to absorb the losses of, or the right to receive the benefits from, the VIE that could potentially be significant to that VIE.
Entities in which our voting interest in common equity does not provide it with control, but allows us to exert significant influence over operating and financial decisions, are accounted for under the equity method. We also have investments in equity securities where our voting interest is below the level of significant influence, including investments that we make in non-public companies in the ordinary course of business. Such investments are initially recorded at cost and adjusted to fair value through earnings for observable price changes in orderly transactions for identical or similar instruments of the same company or if they are determined to be impaired. See Note 4 for the accounting policy for our marketable equity securities.
Foreign Currency
FOREIGN CURRENCY
Transactions conducted in currencies other than the applicable functional currency of an entity are converted to the functional currency at the exchange rate on the transaction date. At the period end, monetary assets and liabilities are remeasured to the functional currency using period end rates. The resulting transaction gains and losses are recorded in Other, net expenses in the Consolidated Statements of Income.
For subsidiaries where the functional currency is not the U.S. dollar, the monetary assets and liabilities and results of operations are translated for consolidation purposes into U.S. dollars at period-end rates for monetary assets and liabilities and generally at average rates for results of operations. The resulting translation adjustments, along with any related qualifying hedge and tax effects, are included in accumulated other comprehensive income (loss) (AOCI), a component of shareholders’ equity. Translation adjustments, including qualifying hedge and tax effects, are reclassified to earnings upon the sale or substantial liquidation of investments in foreign operations.
Amounts Based on Estimates and Assumptions
AMOUNTS BASED ON ESTIMATES AND ASSUMPTIONS
Accounting estimates are an integral part of the Consolidated Financial Statements. These estimates are based, in part, on management’s assumptions concerning future events. Among the more significant assumptions are those that relate to reserves for Card Member credit losses on loans and receivables, Membership Rewards liability, goodwill and income taxes. These accounting estimates reflect the best judgment of management, but actual results could differ.
Revenue
Revenue is recognized when obligations under the terms of a contract with our customers are satisfied. We have elected to not disclose revenue that is expected to be recognized in future periods related to contracts with variable consideration (e.g., discount revenue). Non-interest revenue expected to be recognized in future periods related to all other contracts with customers is not material.
Payments made pursuant to contractual arrangements with our merchants, network partners and other customers are classified as contra-revenue, except where we receive goods, services or other benefits for which the fair value is determinable and measurable, in which case they are recorded as expense.
Discount Revenue
Discount revenue primarily represents the amount we earn and retain from the merchant payable for facilitating transactions between Card Members and merchants on payment products issued by American Express. The amount of fees charged for accepting our cards as payment, or merchant discount, varies with, among other factors, the industry in which the merchant conducts business, the merchant’s overall American Express-related transaction volume, the method of payment, the settlement terms with the merchant, the method of submission of transactions and, in certain instances, the geographic scope of the card acceptance agreement between the merchant and us (e.g., local or global) and the transaction amount. Discount revenue is generally recorded at the time the Card Member transaction occurs.
Card acceptance agreements, which include the agreed-upon terms for charging the merchant discount fee, vary in duration. Our contracts with small- and mid-sized merchants generally have no fixed contractual duration, while those with large merchants are generally for fixed periods, which typically range from three to seven years in duration. Our fixed-period agreements may include auto-renewal features, which may allow the existing terms to continue beyond the stated expiration date until a new agreement is reached. We satisfy our obligations under these agreements over the contract term, often on a daily basis, including through the processing of Card Member transactions and the availability of our payment network.
In cases where the merchant acquirer is a third party, we receive a network rate fee in our settlement with the merchant acquirer, which is negotiated between us and that merchant acquirer and is recorded as discount revenue at the time the Card Member transaction occurs.
Net Card Fees
Net card fees represent revenue earned from annual card membership fees, which vary based on the type of card and the number of cards for each account. These fees, net of qualifying acquisition costs and a reserve for projected refunds for Card Member cancellations, are deferred and recognized on a straight-line basis over the twelve-month card membership period as Net card fees in the Consolidated Statements of Income and are therefore more stable in relation to short term business or economic shifts. The unamortized net card fee balance is reported in Other liabilities on the Consolidated Balance Sheets.
Service Fees and Other Revenue
Service fees and other revenue includes service fees earned from merchants and other customers and travel commissions and fees, which are generally recognized in the period when the service is performed, and delinquency and foreign currency-related fees, which are primarily recognized in the period when they are charged to the Card Member. In addition, Service fees and other revenue includes income (losses) from our investments in which we have significant influence and therefore account for under the equity method. Refer to Note 18 for additional information.
Processed Revenue
Processed revenue primarily represents revenues related to network partnership agreements, comprising royalties, fees and amounts earned for facilitating transactions on cards issued by network partners. In our role as the operator of the American Express network, we settle with merchants and our third-party merchant acquirers on behalf of our network card issuing partners. The amount of fees charged for accepting American Express-branded cards is generally deducted from the payment to the merchant or third-party merchant acquirer and recorded as Processed revenue at the time the Card Member transaction occurs. Our network card issuing partners receive an issuer rate that is individually negotiated between that issuer and us and is recorded as contra-revenue within Processed revenue to the extent that there is revenue from the same customer, after which any additional issuer rate is recorded as expense in Business development.
Interest Income
Interest on Card Member loans is assessed using the average daily balance method. Unless the loan is classified as non-accrual, interest is recognized based upon the principal amount outstanding, in accordance with the terms of the applicable account agreement, until the outstanding balance is paid, or written off.
Interest and dividends on investment securities primarily relate to our performing fixed-income securities. Interest income is recognized as earned using the effective interest method, which adjusts the yield for security premiums and discounts, fees and other payments, so that a constant rate of return is recognized on the investment security’s outstanding balance. Amounts are recognized until securities are in default or when it becomes likely that future interest payments will not be made as scheduled.
Interest on deposits with banks and other is recognized as earned, and primarily relates to the placement of cash, in excess of near-term funding requirements, in interest-bearing time deposits, overnight sweep accounts, and other interest-bearing demand and call accounts.
Interest Expense
Interest Expense
Interest expense includes interest incurred primarily to fund Card Member loans and receivables, general corporate purposes and liquidity needs, and is recognized as incurred. Interest expense is divided principally into two categories: (i) deposits, which primarily relates to interest expense on deposits taken from customers and institutions and (ii) debt, which primarily relates to interest expense on our long-term debt and short-term borrowings, as well as the realized impact of derivatives used to hedge interest rate risk on our long-term debt.
Expenses
Card Member Rewards
We issue credit, charge and debit cards that allow Card Members to participate in various rewards programs (e.g., Membership Rewards, cash back and cobrand). Rewards expense is recognized in the period Card Members earn rewards, generally by spending on their enrolled card products. For Membership Rewards and cash back, we record a liability that represents the rewards that are expected to be redeemed, as well as, for Membership Rewards, the estimated cost of points earned. For cobrand, we record a liability based primarily on rewards earned on Card Member spending on cobrand cards, and make associated payments to our cobrand partners. The partner is liable for providing rewards to the Card Member under the cobrand partner’s own loyalty program. Card Member rewards liabilities are impacted over time by enrollment levels, attrition, the volume of points earned and redeemed, and the associated redemption costs. Changes in the Card Member rewards liabilities during the period are recorded as an increase or decrease to the Card Member rewards expense in the Consolidated Statements of Income.
Business Development
Business development expense includes payments to our cobrand partners, corporate client incentive payments earned on achievement of pre-set targets and certain payments to network partners. These costs are generally expensed as incurred.
Card Member Services
Card Member services expense represents costs incurred in providing our Card Members with various value-added benefits and services, which are generally expensed as incurred.
Marketing
Marketing expense includes the cost of promotional activities to attract, engage and retain customers. Customer acquisition activities include initiatives such as welcome offers, where bonus points or statement credits are issued for the purpose of incentivizing Card Members to apply for a new product and are awarded either on acquisition or upon the Card Member achieving specified spend volume within a stipulated time period, as well as affiliate marketing, direct mail campaigns and telemarketing. In addition, Marketing also includes agency services (such as marketing research, strategy consulting, creative production and placement), sponsorship programs, promotional events, distribution of branded materials and advertising via digital, television, radio and print media.
Marketing expenses incurred in the development and initial placement of advertising are expensed in the period in which the advertising first takes place. All other marketing expenses are generally expensed as incurred.
Cash and Cash Equivalents
Cash and Cash Equivalents
Cash and cash equivalents include cash and amounts due from banks, interest-bearing bank balances, including securities purchased under resale agreements, restricted cash, and other highly liquid investments with original maturities of 90 days or less. Restricted cash primarily represents amounts related to Card Member credit balances as well as upcoming debt maturities of consolidated VIEs.
Card Member Loans HFS
Card Member Loans HFS
When we decide to sell Card Member loans, they are reclassified on the Consolidated Balance Sheets as Card Member loans held for sale and measured at the lower of amortized cost or fair value (LOCOM). Refer to Note 14 for additional information regarding the valuation methodology for Card Member loans HFS. At the time of HFS reclassification, we first write-off amounts in accordance with our policy and then reverse any remaining reserves for credit losses associated with the HFS loans, the net impact of which is recognized within Provisions for credit losses in the Consolidated Statements of Income. HFS loans will continue to be remeasured at LOCOM until they are sold, with any changes in valuation recognized in Other, net in the Consolidated Statements of Income. We will continue to recognize discount revenue, interest income and other revenues and expenses related to the HFS loans until they are sold.
Goodwill
Goodwill
Goodwill represents the excess of the acquisition cost of an acquired business over the fair value of assets acquired and liabilities assumed. We allocate goodwill to our reporting units for the purpose of impairment testing. A reporting unit is defined as an operating segment, or a business that is one level below an operating segment, for which discrete financial information is regularly reviewed by the operating segment manager.
We evaluate goodwill for impairment annually as of November 1, or more frequently if events occur or circumstances change that would more likely than not reduce the fair value of one or more of our reporting units below its carrying value. Prior to completing the annual assessment of goodwill for impairment, we perform a recoverability test of certain long-lived assets.
We have the option to perform a qualitative assessment of goodwill impairment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Alternatively, we can perform a more detailed quantitative assessment of goodwill impairment.
This qualitative assessment entails the evaluation of factors such as economic conditions, industry and market considerations, cost factors, overall financial performance of the reporting unit and other company and reporting unit-specific events. If we determine that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we then perform the impairment evaluation using the quantitative assessment.
The quantitative assessment compares the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount exceeds the reporting unit’s fair value, an impairment loss is recognized for the amount over and above the reporting unit’s fair value.
When measuring the fair value of our reporting units in the quantitative assessment, we use widely accepted valuation techniques, applying a combination of the income approach (discounted cash flows) and market approach (market multiples). When preparing discounted cash flow models under the income approach, we use internal forecasts to estimate future cash flows expected to be generated by the reporting units. To discount these cash flows, we use the expected cost of equity, determined by using a capital asset pricing model. We believe the discount rates appropriately reflect the risks and uncertainties in the financial markets generally and specifically in our internally-developed forecasts. When using market multiples under the market approach, we apply comparable publicly traded companies’ multiples (e.g., earnings or revenues) to our reporting units’ operating results.
For the years ended December 31, 2024 and 2023, we performed assessments for each reporting unit in connection with our annual goodwill impairment evaluation and determined that it was more likely than not that the fair values of each of our reporting units exceeded their carrying values and accordingly no impairment was recognized.
OTHER INTANGIBLE ASSETS
Intangible assets are amortized on a straight-line basis over their estimated useful lives of 1 to 22 years. We review long-lived assets and asset groups, including intangible assets, for impairment whenever events and circumstances indicate their carrying amounts may not be recoverable. An impairment is recognized if the carrying amount is not recoverable and exceeds the asset or asset group’s fair value.
Premises and Equipment
Premises and Equipment
Premises and equipment, including leasehold improvements, are carried at cost less accumulated depreciation. Costs incurred during construction are capitalized and are depreciated once an asset is placed in service. Depreciation is generally computed using the straight-line method over the estimated useful lives of the assets, which range from 3 to 10 years for equipment, furniture and building improvements, and from 40 to 50 years for premises, which are depreciated based upon their estimated useful life at the acquisition date.
Certain costs associated with the acquisition or development of internal-use software are also capitalized and recorded in Premises and equipment. Once the specific software feature is ready for its intended use, these costs are amortized on a straight-line basis over the software’s estimated useful life, generally 5 years. We review these assets for impairment using the same impairment methodology used for our intangible assets.
Leasehold improvements are depreciated using the straight-line method over the lesser of the remaining term of the leased facility, or the economic life of the improvement, and range from 5 to 10 years. We recognize lease restoration obligations at the fair value of the restoration liabilities when incurred and amortize the restoration assets over the lease term.
Leases
Leases
We have operating leases worldwide for facilities, primarily office locations and airport lounges, and equipment, which, for those leases with terms greater than 12 months, are recorded as lease-related assets and liabilities. We do not separate lease and non-lease components. Lease-related assets, or right-of-use assets, are recognized at the lease commencement date at amounts equal to the respective lease liabilities, adjusted for prepaid lease payments, initial direct costs and lease incentives. Lease liabilities are recognized at the present value of the contractual fixed lease payments, discounted using our incremental borrowing rate as of the lease commencement date or upon modification of the lease. Operating lease expense is recognized on a straight-line basis over the lease term, while variable lease payments are expensed as incurred.
Classification of Various Items
CLASSIFICATION OF VARIOUS ITEMS
Certain reclassifications of prior period amounts have been made to conform to the current period presentation.
Recently Adopted and Issued Accounting Standards
RECENTLY ADOPTED AND ISSUED ACCOUNTING STANDARDS
In November 2023, the Financial Accounting Standards Board issued updated accounting guidance for segment reporting, effective for annual reporting periods beginning after December 15, 2023 and for interim reporting periods beginning January 1, 2025. The updated guidance requires enhanced disclosures for significant expenses by reportable operating segment. Significant expense categories and amounts are those regularly provided to the chief operating decision maker (CODM) and included in the measure of a segment’s profit or loss. The updated guidance also requires us to disclose the title and position of our CODM, including an explanation of how our CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. We adopted the updated guidance for the annual reporting period beginning January 1, 2024, which did not result in a material impact to our Consolidated Financial Statements. Refer to Note 24 for related disclosures about our reportable operating segments.
In December 2023, the Financial Accounting Standards Board issued updated accounting guidance on Disclosures for Income Taxes, effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted. The updated guidance requires additional disclosure and disaggregated information in the Income Tax Rate reconciliation using both percentages and reporting currency amounts, with additional qualitative explanations of individually significant reconciling items. The updated guidance also requires disclosure of the amount of income taxes paid (net of refunds received) disaggregated by jurisdictional categories (federal (national), state and foreign). We are currently assessing the updated guidance, however it is not expected to have a material impact to our Consolidated Financial Statements.
In November 2024, the Financial Accounting Standards Board issued updated accounting guidance on the Disaggregation of Income Statement Expenses for annual reporting periods beginning after December 15, 2026 and for interim reporting periods beginning December 15, 2027, with early adoption permitted. The updated guidance includes the requirement for a new tabular disclosure within a Note to the Consolidated Financial Statements, to disaggregate defined expense categories from the expense report lines presented on the Consolidated Statements of Income. We are currently assessing the updated guidance and its impact to our Consolidated Financial Statements.
Card Member and Other Loans, Card Member Receivables and Reserve for Credit Losses
CARD MEMBER AND OTHER LOANS
Card Member loans are generally recorded at the time a Card Member enters into a point-of-sale transaction with a merchant and represent revolve-eligible balances on our card products, as well as any finance charges and associated card-related fees. Card Members with outstanding revolving loans are required to make a minimum monthly payment, and the balances that Card Members choose to revolve are subject to finance charges. These loans have varying terms such as credit limits, interest rates, fees and payment structures, which can be revised over time based on new information about Card Members and in accordance with applicable regulations and the respective product’s terms and conditions.
Card Member loans are presented on the Consolidated Balance Sheets net of reserves for credit losses (refer to Note 3), and include principal and any related accrued interest and fees. Our policy generally is to cease accruing interest on a Card Member loan at the time the account is written off, and establish reserves for interest that we believe will not be collected.
Other loans are recorded at the time any extension of credit is provided to consumer and commercial customers for financing products not associated with a Card Member agreement, such as consumer installment loans and lines of credit offered to small business customers. These loans have a range of fixed and variable terms such as interest rates, fees and repayment periods. Borrowers are typically required to make pre-established monthly payments over the term of the loan. Other loans are presented on the Consolidated Balance Sheets net of reserves for credit losses and include principal and any related accrued interest and fees.
CARD MEMBER RECEIVABLES
Card Member receivables are recorded at the time a Card Member enters into a point-of-sale transaction with a merchant and represent balances due on our card products and card-related fees that need to be paid in full on or before the Card Member’s payment due date.
Charge Card Members generally must pay the full amount billed each month. Card Member receivable balances are presented on the Consolidated Balance Sheets net of reserves for credit losses (refer to Note 3), and include principal and any related accrued fees.
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.
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.
Investment Securities Investment securities principally include available-for-sale (AFS) debt securities carried at fair value on the Consolidated Balance Sheets. The methodology for estimating credit losses for AFS debt securities requires us to estimate lifetime credit losses for all AFS debt securities in an unrealized loss position. When estimating a security’s probability of default and the recovery rate, we assess the security’s credit indicators, including credit ratings. If our assessment indicates that an estimated credit loss exists, we determine the portion of the unrealized loss attributable to credit deterioration and record a reserve for the estimated credit loss through 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.
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. Refer to Note 1 for further details on the principles of consolidation. We perform the servicing and key decision making for the Trusts, and therefore have the power to direct the activities that most significantly impact the Trusts’ economic performance, which are the collection of the underlying Card Member loans and receivables. In addition, we hold all of the variable interests in both Trusts, with the exception of the debt securities issued to third-party investors. Our ownership of variable interests in the Lending Trust was $14.6 billion and $15.3 billion as of December 31, 2024 and 2023, respectively, and in the Charge Trust was $3.9 billion and $4.6 billion as of December 31, 2024 and 2023, 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.
The debt securities issued by the Trusts are non-recourse to us. The securitized Card Member loans and receivables held by the Lending Trust and the Charge Trust, respectively, are available only for payment of the debt securities or other obligations issued or arising in the securitization transactions (refer to Note 2). The long-term debt of each Trust is payable only out of collections on their respective underlying securitized assets (refer to Note 8).
Other Assets We account for such tax credit investments using the Proportional Amortization Method.
Membership Rewards
MEMBERSHIP REWARDS
The Membership Rewards program allows enrolled Card Members to earn points that can be redeemed for a broad variety of rewards including, but not limited to, travel, shopping, gift cards and statement credits. We record a Membership Rewards liability that represents our best estimate of the cost of points earned that are expected to be redeemed by Card Members in the future. The weighted average cost (WAC) per point and the Ultimate Redemption Rate (URR) are the key assumptions used to estimate the liability. We use statistical and actuarial models to estimate the URR based on redemption trends, card product type, enrollment tenure, card spend levels and credit attributes. The WAC per point assumption is derived from 12 months of redemptions and is adjusted as appropriate for certain changes in redemption costs that are not representative of future cost expectations and expected developments in redemption patterns.
The expense for Membership Rewards points is included in Card Member rewards expense. We periodically evaluate our liability estimation process and assumptions based on changes in cost per point redeemed, partner contract changes and developments in redemption patterns, which may be impacted by product refreshes, changes in redemption options and mix of proprietary cards-in-force.
Stock-based Compensation
Stock-based compensation expense is generally recognized ratably based on the grant-date fair value of the awards, net of expected forfeitures, over the vesting period. Generally, the vesting period is the time from the grant date to the earlier of the vesting date defined in each award agreement or the date the colleague will become eligible to retire. Retirement eligibility is dependent upon age and/or years of service.
RSUs containing only service conditions generally vest ratably over three years, or four years for awards granted prior to 2022, beginning with the first anniversary of the grant date. RSUs containing both service and performance conditions generally vest on the third anniversary of the grant date, and the number of shares earned generally ranges from zero to 120 percent of target depending on the achievement of predetermined Company metrics. RSU holders receive dividend equivalents or dividends.Other incentive awards can be settled with cash or equity shares at our discretion and final approval from the Compensation and Benefits Committee. These awards are generally settled with cash and thus are classified as liabilities; therefore, the fair value is determined at the grant date and remeasured quarterly as part of compensation expense over the vesting period.
Retirement Plans We recognize the funded status of our defined benefit pension plans and other postretirement benefit plans, measured as the difference between the fair value of the plan assets and the projected benefit obligation, on the Consolidated Balance Sheets.
Legal 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 $160 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.
Derivatives and Hedging Activities A majority of our derivative assets and liabilities as of December 31, 2024 and 2023 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. Our derivatives are carried at fair value on the Consolidated Balance Sheets. The accounting for changes in fair value depends on the instruments’ intended use and the resulting hedge designation, if any, as discussed below.We formally assess, at inception of the hedge accounting relationship and on a quarterly basis, whether derivatives designated as hedges are highly effective in offsetting the fair value or cash flows of the hedged items. These assessments usually are made through the application of a regression analysis method. If it is determined that a derivative is not highly effective as a hedge, we will discontinue the application of hedge accounting.Gains or losses on the fair value hedging instrument principally offset the losses or gains on the hedged item attributable to the hedged risk.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 have derivatives that act as economic hedges, but are not designated as such for hedge accounting purposes. Foreign currency transactions from time to time may be partially or fully economically hedged through foreign currency contracts, primarily foreign exchange forwards. These hedges generally mature within one year. Foreign currency contracts involve the purchase and sale of designated currencies at an agreed upon rate for settlement on a specified date.
The changes in the fair value of derivatives that are not designated as hedges are primarily intended to offset the related foreign exchange gains or losses of the underlying foreign currency exposures.
Fair Value Measurements We monitor the market conditions and evaluate the fair value hierarchy levels at least quarterly.
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 as of both December 31, 2024 and 2023, of which investments representing nonrecurring Level 3 fair value measurement were $1 million and nil as of December 31, 2024 and 2023, respectively. These amounts are included within Other assets on the Consolidated Balance Sheets.
We recorded unrealized gains of $85 million, $18 million and $94 million for the years ended December 31, 2024, 2023 and 2022, respectively. Unrealized losses were $37 million, $142 million and $388 million for the years ended December 31, 2024, 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 $1.1 billion as of both December 31, 2024 and 2023, and cumulative unrealized losses were $460 million and $431 million as of December 31, 2024 and 2023, 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 December 31, 2024 and 2023.
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.
Income Taxes
We record a deferred income tax (benefit) provision when there are differences between assets and liabilities measured for financial reporting and for income tax return purposes. These temporary differences result in taxable or deductible amounts in future years and are measured using the tax rates and laws that will be in effect when such differences are expected to reverse.
A valuation allowance is established when management determines that it is more likely than not that all or some portion of the benefit of the deferred tax assets will not be realized. The valuation allowances for both periods presented above are associated with certain non-U.S. deferred tax assets, state NOLs, and FTC carryforwards.
Interest and penalties relating to unrecognized tax benefits are reported in the income tax provision.
Income Tax Uncertainties The amount of benefit recognized for financial reporting purposes is based on management’s best judgment of the largest amount of benefit that is more likely than not to be realized on ultimate settlement with the taxing authority given the facts, circumstances and information available at the reporting date. We adjust the level of unrecognized tax benefits when there is new information available to assess the likelihood of the outcome.
Regulatory Matters and Capital Adequacy
RESTRICTED NET ASSETS OF SUBSIDIARIES
Certain of our subsidiaries are subject to restrictions on the transfer of net assets under debt agreements and regulatory requirements. These restrictions have not had any effect on our shareholder dividend policy and management does not anticipate any impact in the future. Procedures exist to transfer net assets between the Company and its subsidiaries, while ensuring compliance with the various contractual and regulatory constraints. As of December 31, 2024, the aggregate amount of net assets of subsidiaries that are restricted to be transferred was approximately $15.3 billion.
BANK HOLDING COMPANY DIVIDEND RESTRICTIONS
We are limited in our ability to pay dividends by the Federal Reserve, which could prohibit a dividend that would be considered an unsafe or unsound banking practice. It is the policy of the Federal Reserve that bank holding companies generally should pay dividends on preferred and common stock only out of net income available to common shareholders generated over the past year, and only if prospective earnings retention is consistent with the organization’s current and expected future capital needs, asset quality and overall financial condition. Moreover, bank holding companies are required by statute to be a source of strength to their insured depository institution subsidiaries and should not maintain dividend levels that undermine their ability to do so. On an annual basis, we are required to develop and maintain a capital plan, which includes planned dividends. We may be subject to limitations and restrictions on our dividends, if, among other things, (i) our regulatory capital ratios do not satisfy applicable minimum requirements and buffers or (ii) we are required to resubmit our capital plan.
BANK DIVIDEND RESTRICTIONS
In the year ended December 31, 2024, AENB paid dividends from retained earnings to its parent of $5.0 billion. AENB is limited in its ability to pay dividends by banking statutes, regulations and supervisory policy. In general, applicable federal and state banking laws prohibit, without first obtaining regulatory approval, insured depository institutions, such as AENB, from making dividend distributions if such distributions are not paid out of available retained earnings or would cause the institution to fail to meet capital adequacy standards. If AENB’s risk-based capital ratios do not satisfy minimum regulatory requirements and applicable buffers, it will face graduated constraints on dividends and other capital distributions. In determining the dividends to pay its parent, AENB must also consider the effects on applicable risk-based capital and leverage ratio requirements, as well as policy statements of the federal regulatory agencies. In addition, AENB’s banking regulators have authority to limit or prohibit the payment of a dividend by AENB under a number of circumstances, including if, in the banking regulator’s opinion, payment of a dividend would constitute an unsafe or unsound banking practice in light of the financial condition of the banking organization.
Segment Reporting
We consider a combination of factors when evaluating the composition of our reportable operating segments, including the results regularly provided to our Chief Executive Officer, who is our chief operating decision maker (CODM), economic characteristics, products and services offered, classes of customers, product distribution channels, geographic considerations (primarily United States versus outside the United States), and regulatory environment considerations.
Total Revenues Net of Interest Expense
We allocate discount revenue and certain other revenues among segments using a transfer pricing methodology. Within the USCS, CS and ICS segments, discount revenue generally reflects the issuer component of the overall discount revenue generated by each segment’s Card Members; within the GMNS segment, discount revenue generally reflects the network and acquirer component of the overall discount revenue being allocated.
Net card fees, processed revenue and certain other revenues are directly attributable to the segment in which they are reported.
Interest and fees on loans and certain investment income is directly attributable to the segment in which it is reported. Interest expense represents an allocated funding cost based on a combination of segment funding requirements and internal funding rates.
Provisions for Credit Losses
The provisions for credit losses are directly attributable to the segment in which they are reported.
Expenses
Card Member rewards, Business development and Card Member services expenses, as well as Marketing expenses, are generally included in each segment based on the actual expenses incurred. Global brand advertising, a component of Marketing expense, is primarily allocated to the segments based on the relative levels of revenue.
Salaries and employee benefits and other operating expenses reflect both costs incurred directly within each segment, as well as allocated expenses. The allocated expenses include service costs, which primarily reflect salaries and benefits associated with our technology and customer servicing groups, and overhead expenses. Service costs are allocated based on activities directly attributable to the segment, and overhead expenses are allocated based on the relative levels of revenue and Card Member loans and receivables.
v3.25.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of other significant accounting policies
The following table identifies our other significant accounting policies, along with the related Note:
TABLE 1.1: OTHER SIGNIFICANT ACCOUNTING POLICIES
Significant Accounting PolicyNote
Number		Note Title
Loans and Card Member ReceivablesNote 2Loans and Card Member Receivables
Reserves for Credit LossesNote 3Reserves for Credit Losses
Investment SecuritiesNote 4Investment Securities
Asset SecuritizationsNote 5Asset Securitizations
Stock-Based Compensation
Note 10
Stock-Based Compensation
Legal ContingenciesNote 12Contingencies and Commitments
Derivative Financial Instruments and Hedging ActivitiesNote 13Derivatives and Hedging Activities
Fair Value MeasurementsNote 14Fair Values
GuaranteesNote 15Guarantees
Income TaxesNote 20Income Taxes
Earnings Per Common Share
Note 21
Earnings Per Common Share
v3.25.0.1
Loans and Card Member Receivables (Tables)
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Card member and other loan detail
Card Member and Other loans as of December 31, 2024 and 2023 consisted of:
TABLE 2.1: CARD MEMBER AND OTHER LOANS
(Millions)20242023
Consumer (a)
$107,646 $98,111 
Small Business31,991 27,833 
Corporate37 51 
Card Member loans139,674 125,995 
Less: Reserves for credit losses5,679 5,118 
Card Member loans, net$133,995 $120,877 
Other loans, net (b)
$9,038 $6,960 
(a)Includes approximately $28.3 billion and $28.6 billion of gross Card Member loans available to settle obligations of a consolidated VIE as of December 31, 2024 and 2023, respectively.
(b)Other loans are presented net of reserves for credit losses of $194 million and $126 million as of December 31, 2024 and 2023, respectively.
Card Member receivables as of December 31, 2024 and 2023 consisted of:
TABLE 2.2: CARD MEMBER RECEIVABLES
(Millions)20242023
Consumer$25,431 $25,578 
Small Business18,619 19,286 
Corporate(a)
15,361 15,547 
Card Member receivables59,411 60,411 
Less: Reserves for credit losses171 174 
Card Member receivables, net$59,240 $60,237 
(a)Includes $3.9 billion and $4.6 billion of gross Card Member receivables available to settle obligations of a consolidated VIE as of December 31, 2024 and 2023, respectively.
Aging of receivables The following tables present the aging of Card Member loans and receivables as of December 31, 2024 and 2023:
TABLE 2.3: CARD MEMBER LOANS AND RECEIVABLES AGING
2024 (Millions)
Current30-59
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$106,155 $437 $329 $725 $107,646 $435 $464 
Small Business31,510 151 107 223 31,991 132 135 
Corporate (a)
(b)(b)(b)— 37 — — 
Card Member Receivables:
Consumer$25,255 $58 $39 $79 $25,431 $— $— 
Small Business18,400 77 54 88 18,619 — — 
Corporate (a)
(b)(b)(b)65 15,361 — — 
2023 (Millions)
Current30-59
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$96,779 $420 $298 $614 $98,111 $393 $344 
Small Business27,444 133 85 171 27,833 109 95 
Corporate (a)
(b)(b)(b)— 51 — — 
Card Member Receivables:
Consumer$25,355 $70 $47 $106 $25,578 $— $— 
Small Business19,020 104 62 100 19,286 — — 
Corporate (a)
(b)(b)(b)67 15,547 — — 
(a)For corporate accounts, delinquency data is tracked based on days past billing status rather than days past due. A Card Member account is considered 90 days past billing if payment has not been received within 90 days of the Card Member’s billing statement date. In addition, if we initiate collection procedures on an account prior to the account becoming 90 days past billing, the associated Card Member loan or receivable balance is classified as 90 days past billing. These amounts are shown above as 90+ Days Past Due for presentation purposes. See also (b).
(b)Delinquency data for periods other than 90+ days past billing has not historically been available due to system constraints. Therefore, such data has not been a material input for risk management purposes. The balances that are current to 89 days past billing can be derived as the difference between the Total and the 90+ Days Past Due balances.
(c)Our policy is generally to accrue interest through the date of write-off (typically 180 days past due). We establish reserves for interest that we believe will not be collected.
(d)Non-accrual loans primarily include certain loans placed with outside collection agencies for which we have ceased accruing interest.
The following table provides additional information with respect to our impaired loans and receivables as of December 31, 2022:
TABLE 2.8: IMPAIRED LOANS AND RECEIVABLES
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$252 $155 $781 $1,098 $2,286 $335 
Small Business54 34 267 380 735 108 
Corporate— — — — — — 
Card Member Receivables
Consumer— — 257 179 436 20 
Small Business— — 403 402 805 40 
Corporate— — 6 7 13 1 
Other Loans3 2 19 2 26 — 
Total$309 $191 $1,733 $2,068 $4,301 $504 
(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 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.
Credit quality indicators for loans and receivables
The following table presents the key credit quality indicators as of or for the years ended December 31:
TABLE 2.4: CREDIT QUALITY INDICATORS FOR CARD MEMBER LOANS AND RECEIVABLES
20242023
Net Write-Off RateNet 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:
Consumer2.2 %2.7 %1.4 %1.8 %2.2 %1.4 %
Small Business2.3 %2.6 %1.5 %1.7 %1.9 %1.4 %
Card Member Receivables:
Consumer1.2 %1.3 %0.7 %1.5 %1.6 %0.9 %
Small Business1.9 %2.0 %1.2 %2.2 %2.4 %1.4 %
Corporate
(b)0.6 %(c)(b)0.6 %(c)
(a)We present a net write-off rate based on principal losses only (i.e., excluding interest and/or fees) to be consistent with industry convention. In addition, as our practice is to include uncollectible interest and/or fees as part of our total provision for credit losses, a net write-off rate including principal, interest and/or fees is also presented.
(b)Net write-off rate based on principal losses only is not available due to system constraints.
(c)For corporate receivables, delinquency data is tracked based on days past billing status rather than days past due. Delinquency data for periods other than 90+ days past billing is not available due to system constraints. 90+ days past billing as a % of total was 0.4% as of both December 31, 2024 and 2023.
Modifications of loans and receivables
The following tables provide information relating to loans and receivables modifications for borrowers experiencing financial difficulty during the years ended December 31, 2024 and 2023:
TABLE 2.5: LOANS AND RECEIVABLES MODIFICATIONS FOR BORROWERS EXPERIENCING FINANCIAL DIFFICULTY
Year Ended December 31, 2024
2024 (Millions)
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$1,770 1.6 %18.3 %(b)
Small Business646 2.0 %17.5 %(b)
Corporate— — — (b)
Term Extension
Card Member Receivables
Consumer256 1.0 %(c)30
Small Business401 2.2 %(c)30
Corporate13 0.1 %(c)9
Other Loans30 0.3 %— 18
Interest Rate Reduction
and Term Extension
Other Loans56 0.6 %2.6 %20
Total$3,172 
Year Ended December 31, 2023
2023 (Millions)
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$1,572 1.6 %16.4 %(b)
Small Business550 2.0 %15.9 %(b)
Corporate— — — (b)
Term Extension
Card Member Receivables
Consumer346 1.4 %(c)27
Small Business543 2.8 %(c)28
Corporate13 0.1 %(c)9
Other Loans23 0.3 %— 18
Interest Rate Reduction
and Term Extension
Other Loans42 0.6 %2.1 %20
Total$3,089 
(a)Represents the outstanding balances as of December 31, 2024 and 2023, respectively, of all modifications undertaken in the current and preceding year for loans and receivables that remain in modification programs as of, or that defaulted on or before, December 31, 2024 and 2023, respectively. The outstanding balances include principal, fees and accrued interest on loans and principal and fees on receivables. Modifications did not reduce the principal balance.
(b)For Card Member loans, we generally do not offer payment term extensions.
(c)We do not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing.
The following tables provide information with respect to loans and receivables modified on or after January 1, 2023 that defaulted in the periods presented and were modified in the twelve months prior to the payment default. A customer can miss up to three payments before being considered in default, depending on the terms of the modification program.
TABLE 2.6: MODIFIED LOANS AND RECEIVABLES THAT DEFAULTED WITHIN TWELVE MONTHS OF MODIFICATION
Year Ended December 31, 2024
Account Balance (Millions) (a)
Interest Rate Reduction
Term ExtensionInterest Rate Reduction and Term ExtensionTotal
Card Member Loans
Consumer$88 (b)$—$88 
Small Business40 (b)—40 
Corporate— (b)—— 
Card Member Receivables
Consumer(c)$10 — 10 
Small Business(c)17 — 17 
Corporate(c)— — — 
Other Loans— — 2 2 
Total$128 $27 $2 $157 
Year Ended December 31, 2023
Account Balance (Millions) (a)
Interest Rate Reduction
Term ExtensionInterest Rate Reduction and Term ExtensionTotal
Card Member Loans
Consumer$53 (b)$—$53 
Small Business20 (b)—20 
Corporate— (b)—— 
Card Member Receivables
Consumer(c)$9 — 9 
Small Business(c)14 — 14 
Corporate(c)— — — 
Other Loans— — 1 1 
Total$73 $23 $1 $97 
(a)Represents the outstanding balances as of December 31, 2024 and 2023, respectively, of all modifications undertaken on or after January 1, 2023 that defaulted in the periods presented and were modified in the twelve months prior to payment default. The outstanding balances include principal, fees and accrued interest on loans and principal and fees on receivables.
(b)For Card Member loans, we generally do not offer payment term extensions.
(c)We do not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing.
The following tables provide information relating to the performance of loans and receivables that were modified during the years ended December 31, 2024 and 2023 and that remain in modification programs as of, or that defaulted on or before, December 31, 2024 and 2023, respectively:
TABLE 2.7: PERFORMANCE OF MODIFIED LOANS AND RECEIVABLES
As of December 31, 2024
Account Balances (Millions) (a)
Current
30-89 Days Past Due
90+ Days Past Due
Card Member Loans
Consumer$1,615 $110 $45 
Small Business568 56 22 
Corporate— — — 
Card Member Receivables:
Consumer234 16 6 
Small Business357 31 13 
Corporate10 2 1 
Other Loans79 5 2 
Total$2,863 $220 $89 
As of December 31, 2023
Account Balances (Millions) (a)
Current
30-89 Days Past Due
90+ Days Past Due
Card Member Loans
Consumer$1,433 $103 $36 
Small Business489 45 16 
Corporate— — — 
Card Member Receivables:
Consumer314 25 7 
Small Business479 52 12 
Corporate11 2 — 
Other Loans59 4 2 
Total$2,785 $231 $73 
(a)The outstanding balances include principal, fees and accrued interest on loans and principal and fees on receivables.
The following table provides additional information with respect to loans and receivables that were modified as TDRs during the year ended December 31, 2022:
TABLE 2.9: LOANS AND RECEIVABLES MODIFIED AS TDRs
2022
Number of
Accounts (Thousands)
Account
Balances (Millions) (a)
Average Interest Rate Reduction (% points)
Average Payment Term Extensions
(# of months)
Troubled Debt Restructurings:
Card Member Loans149 $1,002 14 %(b)
Card Member Receivables27 900 (c)20
Other Loans (d)
4 8 2 %17
Total180 $1,910 
(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.
(d)Other loans primarily represent consumer installment loans and lines of credit offered to small business customers.
Impaired card member loans and receivables The following tables present the aging of Card Member loans and receivables as of December 31, 2024 and 2023:
TABLE 2.3: CARD MEMBER LOANS AND RECEIVABLES AGING
2024 (Millions)
Current30-59
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$106,155 $437 $329 $725 $107,646 $435 $464 
Small Business31,510 151 107 223 31,991 132 135 
Corporate (a)
(b)(b)(b)— 37 — — 
Card Member Receivables:
Consumer$25,255 $58 $39 $79 $25,431 $— $— 
Small Business18,400 77 54 88 18,619 — — 
Corporate (a)
(b)(b)(b)65 15,361 — — 
2023 (Millions)
Current30-59
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$96,779 $420 $298 $614 $98,111 $393 $344 
Small Business27,444 133 85 171 27,833 109 95 
Corporate (a)
(b)(b)(b)— 51 — — 
Card Member Receivables:
Consumer$25,355 $70 $47 $106 $25,578 $— $— 
Small Business19,020 104 62 100 19,286 — — 
Corporate (a)
(b)(b)(b)67 15,547 — — 
(a)For corporate accounts, delinquency data is tracked based on days past billing status rather than days past due. A Card Member account is considered 90 days past billing if payment has not been received within 90 days of the Card Member’s billing statement date. In addition, if we initiate collection procedures on an account prior to the account becoming 90 days past billing, the associated Card Member loan or receivable balance is classified as 90 days past billing. These amounts are shown above as 90+ Days Past Due for presentation purposes. See also (b).
(b)Delinquency data for periods other than 90+ days past billing has not historically been available due to system constraints. Therefore, such data has not been a material input for risk management purposes. The balances that are current to 89 days past billing can be derived as the difference between the Total and the 90+ Days Past Due balances.
(c)Our policy is generally to accrue interest through the date of write-off (typically 180 days past due). We establish reserves for interest that we believe will not be collected.
(d)Non-accrual loans primarily include certain loans placed with outside collection agencies for which we have ceased accruing interest.
The following table provides additional information with respect to our impaired loans and receivables as of December 31, 2022:
TABLE 2.8: IMPAIRED LOANS AND RECEIVABLES
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$252 $155 $781 $1,098 $2,286 $335 
Small Business54 34 267 380 735 108 
Corporate— — — — — — 
Card Member Receivables
Consumer— — 257 179 436 20 
Small Business— — 403 402 805 40 
Corporate— — 6 7 13 1 
Other Loans3 2 19 2 26 — 
Total$309 $191 $1,733 $2,068 $4,301 $504 
(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 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.
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.
TABLE 2.10: LOANS AND RECEIVABLES MODIFIED AS TDRs THAT DEFAULTED WITHIN TWELVE MONTHS OF MODIFICATION
2022
Number of Accounts
(Thousands)
Aggregated
Outstanding Balances
Upon Default
(Millions) (a)
Troubled Debt Restructurings That Subsequently Defaulted:
Card Member Loans14 $81 
Card Member Receivables3 38 
Other Loans (b)
1 1 
Total18 $120 
(a)The outstanding balances upon default include principal, fees and accrued interest on loans, and principal and fees on receivables.
(b)Other loans primarily represent consumer installment loans and lines of credit offered to small business customers.
v3.25.0.1
Reserves for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2024
Credit Loss [Abstract]  
Schedule of key variables in macroeconomic scenarios utilized for computation of reserves for credit losses
The following table reflects the range of macroeconomic scenario key variables used, in conjunction with other inputs, to calculate reserves for credit losses:
TABLE 3.1: KEY MACROECONOMIC VARIABLES
U.S. Unemployment Rate
U.S. GDP Growth (Contraction) (a)
December 31, 2024December 31, 2023December 31, 2024December 31, 2023
Fourth quarter of 2024
4%
3% - 8%
2%
3% - 1%
First quarter of 2025
4% - 6%
3% - 8%
4% - (3)%
2% - 1%
Fourth quarter of 2025
3% - 8%
3% - 7%
3% - 1%
2%
Fourth quarter of 2026
3% - 7%
3% - 6%
2%
3% - 2%
(a)Real GDP quarter over quarter percentage change seasonally adjusted to annualized rates.
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 years ended December 31:
TABLE 3.2: CHANGES IN CARD MEMBER LOANS RESERVE FOR CREDIT LOSSES
(Millions)202420232022
Beginning Balance$5,118 $3,747 $3,305 
Provisions(a)
4,109 3,839 1,514 
Net write-offs (b)
Principal(2,894)(2,043)(837)
Interest and fees(621)(443)(229)
Other(c)
(33)18 (6)
Ending Balance$5,679 $5,118 $3,747 
(a)Provisions for principal, interest and fee reserve components. Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. In addition, provisions for the year ended December 31, 2024 includes the reserve release of $49 million upon the reclassification of Card Member loans related to the Lowe’s small business cobrand portfolio as HFS in the fourth quarter of 2024. See Note 1 for additional information.
(b)Principal write-offs are presented less recoveries of $730 million, $537 million and $539 million for the years ended December 31, 2024, 2023 and 2022, respectively. Recoveries of interest and fees were not significant.
(c)Primarily includes foreign currency translation adjustments of $(33) million, $18 million and $(6) million for the years ended December 31, 2024, 2023 and 2022, respectively.
The following table presents changes in the Card Member receivables reserve for credit losses for the years ended December 31:
TABLE 3.3: CHANGES IN CARD MEMBER RECEIVABLES RESERVE FOR CREDIT LOSSES
(Millions)202420232022
Beginning Balance$174 $229 $64 
Provisions (a)
774 880 627 
Net write-offs (b)
(773)(937)(462)
Other (c)
(4)2 — 
Ending Balance$171 $174 $229 
(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 $304 million, $297 million and $257 million for the years ended December 31, 2024, 2023 and 2022, respectively.
(c)Primarily includes foreign currency translation adjustments of $(4) million, $1 million and $2 million for the years ended December 31, 2024, 2023 and 2022, respectively.
v3.25.0.1
Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of available for sale securities by type
The following is a summary of investment securities as of December 31:
TABLE 4.1: INVESTMENT SECURITIES
20242023
Description of Securities (Millions)
CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value		CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
Available-for-sale debt securities:
State and municipal obligations$57 $1 $(9)$49 $61 $— $(6)$55 
U.S. Government agency obligations4 — — 4 4 — — 4 
U.S. Government treasury obligations289 — (2)287 1,217 1 (12)1,206 
Mortgage-backed securities (a)
11 — (1)10 12 — (1)11 
Foreign government bonds and obligations765 — — 765 770 — — 770 
Other (b)
77 — — 77 74 — — 74 
Equity securities (c)(d)
53 4 (9)48 60 16 (10)66 
Total$1,256 $5 $(21)$1,240 $2,198 $17 $(29)$2,186 
(a)Represents mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae.
(b)Represents investments in debt securities issued by Community Development Financial Institutions.
(c)Equity securities comprise investments in common stock and mutual funds.
(d)During 2024, an equity investment transferred from Other assets to Investment securities following the completion of an initial public offering by the issuer of the securities. The investment had a fair value of $7 million with an associated cost of $3 million as of December 31, 2024.
Available-for-sale securities, continuous unrealized loss position, fair value
The following table provides information about our AFS debt securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2024 and 2023:
TABLE 4.2: AFS DEBT SECURITIES WITH GROSS UNREALIZED LOSSES BY DURATION
20242023
Less than 12 months12 months or moreLess than 12 months12 months or more
Description of Securities (Millions)
Estimated
Fair Value		Gross Unrealized
Losses		Estimated
Fair Value		Gross Unrealized
Losses		Estimated
Fair Value		Gross Unrealized
Losses		Estimated
Fair Value		Gross Unrealized
Losses
State and municipal obligations$— $— $22 $(9)$— $— $33 $(6)
U.S. Government treasury obligations— — 123 (2)— — 1,114 (12)
Mortgage-backed securities
— — 7 (1)— — 7 (1)
Total$— $— $152 $(12)$— $— $1,154 $(19)
Available for sale securities ratio of fair value to amortized cost
The following table summarizes the gross unrealized losses for AFS debt securities by ratio of fair value to amortized cost as of December 31, 2024 and 2023:
TABLE 4.3: AFS GROSS UNREALIZED LOSSES BY RATIO OF FAIR VALUE TO AMORTIZED COST
Less than 12 months12 months or moreTotal
Ratio of Fair Value to
Amortized Cost (Dollars in millions)
Number of
Securities		Estimated
Fair Value		Gross
Unrealized
Losses		Number of
Securities		Estimated
Fair Value		Gross
Unrealized
Losses		Number of
Securities		Estimated
Fair Value		Gross
Unrealized
Losses
2024:
90%–100%—$— $— 30$129 $(3)30$129 $(3)
Less than 90%—— — 1523 (9)1523 (9)
Total as of December 31, 2024—$— $— 45$152 $(12)45$152 $(12)
2023:
90%–100%—$— $— 69$1,140 $(14)69$1,140 $(14)
Less than 90%—— — 214 (5)214 (5)
Total as of December 31, 2023—$— $— 71$1,154 $(19)71$1,154 $(19)
Contractual maturities of investment securities
Weighted average yields and contractual maturities for AFS debt securities with stated maturities as of December 31, 2024 were as follows:
TABLE 4.4: WEIGHTED AVERAGE YIELDS AND CONTRACTUAL MATURITIES OF AFS DEBT SECURITIES
(Millions)Due within 1 yearDue after 1 year but within 5 yearsDue after 5 years but within 10 yearsDue after 10 yearsTotal
State and municipal obligations (a)
$— $— $23 $26 $49 
U.S. Government agency obligations (a)
— — — 4 4 
U.S. Government treasury obligations189 98 — — 287 
Mortgage-backed securities (a)(b)
— — — 10 10 
Foreign government bonds and obligations764 1 — — 765 
Other (c)
— 67 10 — 77 
Total Estimated Fair Value$953 $166 $33 $40 $1,192 
Total Cost$955 $166 $32 $50 $1,203 
Weighted average yield (d)
5.33 %3.71 %4.81 %2.73 %4.98 %
(a)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.
(b)Represents mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae.
(c)Represents investments in debt securities issued by Community Development Financial Institutions.
(d)Average yields for investment securities have been calculated using the effective yield on the date of purchase. Yields on tax-exempt investment securities have been computed on a tax-equivalent basis using the U.S. federal statutory tax rate of 21 percent.
v3.25.0.1
Other Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Other Assets [Abstract]  
Other assets
The following is a summary of Other assets as of December 31:
TABLE 6.1: OTHER ASSETS
(Millions)20242023
Goodwill$4,187 $3,851 
Right-of-use lease assets
804 770 
Other intangible assets, at amortized cost123 98 
Other (a)
16,065 14,395 
Total$21,179 $19,114 
(a)Primarily includes net deferred tax assets, other receivables net of reserves, investments in non-consolidated entities, tax credit investments, prepaid assets and derivative assets.
Changes in carrying amount of goodwill
The changes in the carrying amount of goodwill reported in our reportable operating segments were as follows:
TABLE 6.2: GOODWILL ROLLFORWARD
(Millions)USCSCSICSGMNSTotal
Balance as of December 31, 2022$379 $2,122 $725 $560 $3,786 
Acquisitions— 30 — 18 48 
Dispositions— — — — — 
Other (a)
— (1)18 — 17 
Balance as of December 31, 2023$379 $2,151 $743 $578 $3,851 
Acquisitions (b)
394 — — — 394 
Dispositions— — — (27)(27)
Other (a)
(1)(3)(27)— (31)
Balance as of December 31, 2024$772 $2,148 $716 $551 $4,187 
(a)Primarily includes foreign currency translation.
(b)Includes the acquisition of a reservation, table and event management technology provider.
Tax credit investments expenses and related income tax credits and other tax benefits
The following table presents tax credit investment expenses and associated income tax credits and other income tax benefits for the years ended December 31:
TABLE 6.3: TAX CREDIT INVESTMENT EXPENSES, INCOME TAX CREDITS AND OTHER BENEFITS
(Millions)202420232022
Proportional amortization recognized in tax provision$193 $185 $161 
Equity method expenses recognized in Other, net expenses$— $— $9 
Income tax credits and Other income tax benefits (a) recognized in tax provision
$221 $204 $196 
(a)Other income tax benefits are a result of tax deductible expenses generated by our tax credit investments.
v3.25.0.1
Customer Deposits (Tables)
 12 Months Ended
Dec. 31, 2024
Deposits [Abstract]  
Customer deposits by component and type
As of December 31, customer deposits were categorized as interest-bearing or non-interest-bearing as follows:
TABLE 7.1: INTEREST-BEARING AND NON-INTEREST-BEARING CUSTOMER DEPOSITS
(Millions)20242023
U.S.:
Interest-bearing$138,433 $128,146 
Non-interest-bearing (includes Card Member credit balances of: 2024, $513; 2023, $495)
566 557 
Non-U.S.:
Interest-bearing17 12 
Non-interest-bearing (includes Card Member credit balances of: 2024, $395; 2023, $426)
397 429 
Total customer deposits$139,413 $129,144 
Customer deposits by deposit type as of December 31 were as follows:
TABLE 7.2: CUSTOMER DEPOSITS BY TYPE
(Millions)20242023
U.S. interest-bearing deposits:
Savings accounts
$108,364 $92,324 
Checking accounts
2,045 1,398 
Certificates of deposit:
Direct4,303 5,557 
Third-party (brokered)8,109 12,960 
Sweep accounts ― Third-party (brokered)
15,612 15,907 
Total U.S. interest-bearing deposits
$138,433 $128,146 
Other deposits72 77 
Card Member credit balances908 921 
Total customer deposits$139,413 $129,144 
Time deposits by maturity
The scheduled maturities of certificates of deposit as of December 31, 2024 were as follows:
TABLE 7.3: SCHEDULED MATURITIES OF CERTIFICATES OF DEPOSIT
(Millions)20252026202720282029After 5 yearsTotal
Certificates of deposit (a)
$7,409 $2,244 $1,399 $701 $669 $— $12,422 
(a)Includes $10 million of non-U.S. direct certificates of deposit as of December 31, 2024.
v3.25.0.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Short-term borrowings
Our short-term borrowings outstanding, defined as borrowings with original contractual maturity dates of less than one year, as of December 31 were as follows:
TABLE 8.1: SHORT-TERM BORROWINGS
20242023
(Millions, except percentages)Outstanding Balance
Year-End Stated
Interest Rate on
Debt (a)
Outstanding Balance
Year-End Stated
Interest Rate on
Debt (a)
Short-term borrowings (b)
$1,374 2.47 %$1,293 1.03 %
Total$1,374 2.47 %$1,293 1.03 %
(a)For floating-rate issuances, the stated interest rates are weighted based on the outstanding principal balances and interest rates in effect as of December 31, 2024 and 2023.
(b)Includes borrowings from banks and book overdrafts with banks, which represents negative cash balances for accounts with an associated overdraft facility, due to timing differences arising in the ordinary course of business.
Long-term debt
Our long-term debt outstanding, defined as debt with original contractual maturity dates of one year or greater, as of December 31 was as follows:
TABLE 8.2: LONG-TERM DEBT
20242023
(Millions, except percentages)Original
Contractual
Maturity
Dates
Outstanding
Balance(a)
Year-End
Interest Rate
on Debt(b)
Year-End
Interest Rate with
Swaps(b)(c)
Outstanding
Balance(a)
Year-End
Interest Rate
on Debt(b)
Year-End
Interest Rate
with
Swaps(b)(c)
American Express Company
(Parent Company only)
Fixed Rate Senior Notes2025 - 2042$14,582 3.66 %3.80 %$20,930 3.48 %4.14 %
Floating Rate Senior Notes2025 - 20283,000 5.49 2,400 6.21 — 
Fixed-to-Floating Rate Senior Notes2026 - 203515,973 5.35 5.57 8,769 5.38 5.91 
Fixed Rate Subordinated Notes— — — 586 3.63 6.74 
Fixed-to-Floating Rate Subordinated Notes2033 - 20351,742 5.44 5.80 1,257 5.24 5.92 
American Express Credit Corporation
Fixed Rate Senior Notes2027333 3.30 — 330 3.30 — 
Lending Trust
Fixed Rate Senior Notes2025 - 202913,934 4.23 4.32 13,449 3.36 3.49 
Other
Floating Rate Borrowings2025 - 2027247 0.76 — %238 0.42 — %
Unamortized Underwriting Fees(96)(93)
Total Long-Term Debt$49,715 4.51 %$47,866 3.96 %
(a)The outstanding balances include (i) unamortized discount, (ii) the impact of movements in exchange rates on foreign currency denominated debt and (iii) the impact of fair value hedge accounting on certain fixed-rate notes that have been swapped to floating rate through the use of interest rate swaps. Refer to Note 13 for more details on our treatment of fair value hedges.
(b)For floating-rate issuances, the stated interest rate on debt is weighted based on the outstanding principal balances and interest rates in effect as of December 31, 2024 and 2023.
(c)Interest rates with swaps are only presented when swaps are in place to hedge the underlying debt. The interest rates with swaps are weighted based on the outstanding principal balances and the interest rates on the floating leg of the swaps in effect as of December 31, 2024 and 2023.
Aggregate annual maturities on long-term debt obligations
Aggregate annual maturities on long-term debt obligations (based on contractual maturity or anticipated redemption dates) as of December 31, 2024 were as follows:
TABLE 8.3: ANNUAL MATURITIES ON LONG-TERM DEBT
(Millions)20252026202720282029ThereafterTotal
American Express Company (Parent Company only)$5,250 $6,700 $8,012 $3,700 $2,500 $9,623 $35,785 
American Express Credit Corporation— — 339 — — — 339 
Lending Trust7,250 2,100 2,200 1,350 1,000 13,900 
Other57 63 127 247 
$12,557 $8,863 $10,678 $5,050 $3,500 $9,623 $50,271 
Unamortized Underwriting Fees(96)
Unamortized Discount and Premium(487)
Impacts due to Fair Value Hedge Accounting27 
Total Long-Term Debt$49,715 
v3.25.0.1
Other Liabilities (Tables)
 12 Months Ended
Dec. 31, 2024
Other Liabilities Disclosure [Abstract]  
Summary of other liabilities
The following is a summary of Other liabilities as of December 31:
TABLE 9.1: OTHER LIABILITIES
(Millions)
20242023
Membership Rewards liability
$14,752 $13,742 
Deferred card and other fees, net
4,042 3,442 
Book overdraft balances (a)
3,461 9,897 
Employee-related liabilities (b)
2,676 2,567 
Card Member rebate and reward accruals (c)
2,121 2,061 
Income tax liability (d)
1,386 1,275 
Other (e)
8,373 8,655 
Total
$36,811 $41,639 
(a)Primarily includes negative cash balances for accounts without an associated overdraft facility, due to timing differences arising in the ordinary course of business.
(b)Includes employee benefit plan obligations and incentive compensation.
(c)Card Member rebate and reward accruals include payments to third-party reward partners and cash-back rewards.
(d)Includes repatriation tax liability of $749 million and $998 million as of December 31, 2024 and 2023, respectively, which represents our remaining obligation under the Tax Cuts and Jobs Act enacted on December 22, 2017 to pay a one-time transition tax on unrepatriated earnings and profits of certain foreign subsidiaries, the net position for current federal, state and non-U.S. income tax liabilities and deferred tax liabilities for foreign jurisdictions.
(e)Primarily includes prepaid products and Travelers Cheques, lease liabilities, accruals for general operating expenses, unfunded commitments for tax credit investments, payments to cobrand partners, dividends payable and client incentives.
Carrying amount of deferred card and other fees
The carrying amount of deferred card and other fees, net of deferred direct acquisition costs and reserves for membership cancellations, as of December 31 was as follows:
TABLE 9.2: DEFERRED CARD AND OTHER FEES, NET
(Millions)20242023
Deferred card and other fees (a)
$4,475 $3,818 
Deferred direct acquisition costs(180)(158)
Reserves for membership cancellations(253)(218)
Deferred card and other fees, net$4,042 $3,442 
(a)Includes deferred fees for Membership Rewards program participants.
v3.25.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of stock option and RSU activity
Our stock options and RSUs outstanding as of December 31, 2024, and changes during the year, are as follows:
TABLE 10.1: STOCK OPTIONS AND RSUs OUTSTANDING
 Stock OptionsService-Based RSUsService and Performance-Based RSUs
(Numbers in thousands)
Number
Weighted-Average
Exercise Price
Number
Weighted-
Average Grant-
Date Fair Value
Number
Weighted-
Average Grant-
Date Fair Value
Outstanding as of December 31, 20233,553 $119.80 1,827 $159.95 3,296 $144.64 
Granted273 201.07 922 204.68 1,223 176.09 
Options exercised/RSUs vested(1,108)91.39 (844)155.92 (1,284)108.44 
Forfeited— — (98)182.64 (209)169.93 
Expired— — — — — — 
Outstanding as of December 31, 20242,718 139.54 1,807 $183.41 3,026 $170.97 
Options vested and expected to vest as of December 31, 20242,718 139.54 
Options exercisable as of December 31, 20241,047 $99.23 
Weighted-average assumptions used for options
The fair value of options without market conditions is estimated on the grant date using a Black-Scholes-Merton option-pricing model. The following weighted-average assumptions were used for options granted in 2024, 2023 and 2022:
TABLE 10.2: WEIGHTED-AVERAGE ASSUMPTIONS FOR OPTIONS GRANTED
202420232022
Dividend yield1.5 %1.4 %1.0 %
Expected volatility(a)
31 %32 %31 %
Risk-free interest rate3.9 %3.5 %1.7 %
Expected life of stock option (in years)(b)
6.97.17.1
Weighted-average fair value per option$68.79 $60.03 $55.30 
(a)The expected volatility is based on historical and implied volatilities of our common stock price.
(b)The expected life of stock options was determined using historical option exercise behavior.
Weighted-average remaining contractual life and aggregate intrinsic value of stock options
The weighted-average remaining contractual life and the aggregate intrinsic value (the amount by which the fair value of our stock price exceeds the exercise price of the option) of the stock options outstanding, exercisable, and vested and expected to vest as of December 31, 2024, were as follows:
TABLE 10.3: WEIGHTED-AVERAGE CONTRACTUAL LIFE AND AGGREGATE INTRINSIC VALUE OF OPTIONS
OutstandingExercisableVested and
Expected to Vest
Weighted-average remaining contractual life (in years)
5.33.75.3
Aggregate intrinsic value (millions)
$427 $207 $427 
Schedule of share-based payment award, valuation assumptions The weighted averages of the following assumptions used in 2024, 2023 and 2022 were:
TABLE 10.4: RSU VALUATION MODEL WEIGHTED-AVERAGE ASSUMPTIONS
202420232022
Expected volatility
30 %45 %42 %
Risk-free interest rate4.0 %3.7 %1.4 %
Remaining performance period (in years)
2.92.92.9
v3.25.0.1
Contingencies and Commitments (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of future minimum rental payments for operating leases
The following represents the maturities of our outstanding lease commitments as of December 31, 2024:
TABLE 12.1: MATURITIES OF OUTSTANDING LEASE COMMITMENTS
(Millions) 
2025$160 
2026146 
2027129 
2028121 
2029106 
Thereafter771 
Total Outstanding Fixed Lease Payments (a)
$1,433 
Less: Amount representing interest$(500)
Lease Liabilities$933 
(a)Excludes $346 million related to leases that were not yet commenced but were commitments as of December 31, 2024.
v3.25.0.1
Derivatives and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2024
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 December 31:
TABLE 13.1: FAIR VALUE OF DERIVATIVE ASSETS AND LIABILITIES
Other Assets Fair ValueOther Liabilities Fair Value
(Millions)2024202320242023
Derivatives designated as hedging instruments:
Fair value hedges - Interest rate contracts (a)
$— $— $23 $99 
Net investment hedges - Foreign exchange contracts340 9 18 455 
Total derivatives designated as hedging instruments340 9 41 554 
Derivatives not designated as hedging instruments:
Foreign exchange contracts and other
666 71 90 423 
Total derivatives, gross1,006 80 131 977 
Derivative asset and derivative liability netting (b)
(91)(57)(91)(57)
Cash collateral netting (c)
(18)— (23)(106)
Total derivatives, net$897 $23 $17 $814 
(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.
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 years ended December 31:
TABLE 13.2: GAINS AND LOSSES ASSOCIATED WITH FAIR VALUE HEDGES ON FIXED-RATE LONG TERM DEBT
Gains (losses)
(Millions)202420232022
Fixed-rate long-term debt$26 $(289)$473 
Derivatives designated as hedging instruments(27)290 (476)
Total$(1)$1 $(3)
v3.25.0.1
Fair Values (Tables)
 12 Months Ended
Dec. 31, 2024
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 described in the preceding paragraphs), as of December 31:
TABLE 14.1: FINANCIAL ASSETS AND FINANCIAL LIABILITIES MEASURED AT FAIR VALUE
20242023
(Millions)TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Assets:
Investment securities: (a)
Equity securities$48 $48 $— $— $66 $66 $— $— 
Debt securities 1,192 — 1,115 77 2,120 — 2,046 74 
Derivatives, gross (a)(b)
1,006 — 975 31 80 — 62 18 
Total Assets2,246 48 2,090 108 2,266 66 2,108 92 
Liabilities:
Derivatives, gross (a)
131 — 131 — 977 — 977 — 
Total Liabilities$131 $— $131 $— $977 $— $977 $— 
(a)Refer to Note 4 for the fair values of investment securities and to Note 13 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 13 for additional information about this embedded derivative.
Estimated fair value of financial assets and financial liabilities
The following tables summarize the estimated fair values of our financial assets and financial liabilities that are measured at amortized cost, and not required to be carried at fair value on a recurring basis, as of December 31, 2024 and 2023. The fair values of these financial instruments are estimates based upon the market conditions and perceived risks as of December 31, 2024 and 2023, and require management’s judgment. These figures may not be indicative of future fair values, nor can the fair value of American Express be estimated by aggregating the amounts presented.
TABLE 14.2: FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES MEASURED AT AMORTIZED COST
2024 (Billions)
Carrying
Value		Corresponding Fair Value Amount
TotalLevel 1Level 2Level 3
Financial Assets:
Financial assets for which carrying values equal or
approximate fair value
Cash and cash equivalents(a)
$41 $41 $39 $2 $— 
Other financial assets(b)
63 63 — 63 — 
Financial assets carried at other than fair value
Card Member and Other loans, less reserves(c)
143 149 — — 149 
Card Member loans HFS
1 1 — — 1 
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value155 155 — 155 — 
Financial liabilities carried at other than fair value
Certificates of deposit(d)
12 12 — 12 — 
Long-term debt(c)
$50 $50 $— $50 $— 
2023 (Billions)
Carrying
Value		Corresponding Fair Value Amount
TotalLevel 1Level 2Level 3
Financial Assets:
Financial assets for which carrying values equal or
approximate fair value
Cash and cash equivalents(a)
$47 $47 $45 $2 $— 
Other financial assets(b)
63 63 — 63 — 
Financial assets carried at other than fair value
Card Member and Other loans, less reserves(c)
128 133 — — 133 
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value143 143 — 143 — 
Financial liabilities carried at other than fair value
Certificates of deposit(d)
19 18 — 18 — 
Long-term debt(c)
$48 $48 $— $48 $— 
(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 $3.9 billion and $4.6 billion held by a consolidated VIE as of December 31, 2024 and 2023, 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 $28.3 billion and $28.6 billion as of December 31, 2024 and 2023, respectively, and the fair values of Long-term debt were $14.0 billion and $13.3 billion as of December 31, 2024 and 2023, respectively.
(d)Presented as a component of Customer deposits on the Consolidated Balance Sheets.
v3.25.0.1
Common and Preferred Shares (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Authorized shares and a reconciliation of common shares issued and outstanding
The following table shows authorized shares and provides a reconciliation of common shares issued and outstanding for the years ended December 31:
TABLE 16.1: COMMON SHARES ISSUED AND OUTSTANDING
(Millions, except where indicated)202420232022
Common shares authorized (billions) (a)
3.6 3.6 3.6 
Shares issued and outstanding at beginning of year723 743 761 
Repurchases of common shares(24)(22)(20)
Net shares issued for RSUs and stock option exercises (b)
3 2 2 
Shares issued and outstanding as of December 31702 723 743 
(a)Of the common shares authorized but unissued as of December 31, 2024, approximately 27 million shares are reserved for issuance under employee stock and employee benefit plans.
(b)Shares issued for RSUs are reported net of shares withheld for tax withholding obligations.
Perpetual fixed rate noncumulative preferred shares issued and outstanding We have the following perpetual Fixed Rate Reset Noncumulative Preferred Share series issued and outstanding as of December 31, 2024:
TABLE 16.2: PREFERRED SHARES ISSUED AND OUTSTANDING
 Series D
Issuance dateAugust 3, 2021
Securities issued
1,600 Preferred shares; represented by 1,600,000 depositary shares
Dividend rate per annum
3.55% through September 14, 2026; resets September 15, 2026 and every subsequent 5-year anniversary at 5-year Treasury rate plus 2.854%
Dividend payment dateQuarterly beginning September 15, 2021
Earliest redemption date
September 15, 2026
Aggregate liquidation preference$1,600 million
Carrying value (a)
$1,584 million
(a)Carrying value, presented in the Statements of Shareholders’ Equity, represents the issuance proceeds, net of underwriting fees and offering costs.
v3.25.0.1
Changes in Accumulated Other Comprehensive Income (Loss) (Tables)
 12 Months Ended
Dec. 31, 2024
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 years ended December 31 were as follows:
TABLE 17.1: CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
As of or for the years ended December 31,
(Millions), net of tax
2024202320222021
Ending Balance
Net Change
Ending Balance
Net Change
Ending Balance
Net Change
 Ending Balance
Net Unrealized Gains (Losses) on Debt
Securities
$(9)$5 $(14)$50 $(64)$(87)$23 
Foreign Currency Translation Adjustment Gains (Losses), Net of Hedges (a)
(2,924)(353)(2,571)51 (2,622)(230)(2,392)
Net unrealized pension and other postretirement benefit gains (losses)
(462)25 (487)37 (524)52(576)
Accumulated other comprehensive income (loss)$(3,395)$(323)$(3,072)$138 $(3,210)$(265)$(2,945)
(a)Refer to Note 13 for additional information on hedging activity.
AOCI income tax effect
The following table shows the tax impact for the years ended December 31 for the changes in each component of AOCI presented above:
TABLE 17.2: TAX IMPACT FOR CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Tax expense (benefit)
(Millions)202420232022
Net unrealized gains (losses) on debt securities
$2 $16 $(27)
Foreign currency translation adjustment, net of hedges205 (158)75 
Pension and other postretirement benefits11 (3)27 
Total tax impact$218 $(145)$75 
v3.25.0.1
Service Fees and Other Revenue and Other Expenses (Tables)
 12 Months Ended
Dec. 31, 2024
Service Fees and Other Revenue and Other Expenses [Abstract]  
Service fees and other revenue
The following is a detail of Service fees and other revenue for the years ended December 31:
TABLE 18.1: COMPONENTS OF SERVICE FEES AND OTHER REVENUE
(Millions)202420232022
Service fees$1,609 $1,518 $1,444 
Foreign currency-related revenue1,527 1,428 1,202 
Delinquency fees941 963 809 
Travel commissions and fees596 637 507 
Other fees and revenues
456 459 559 
Total Service fees and other revenue$5,129 $5,005 $4,521 
Other expenses
The following is a detail of Other expenses for the years ended December 31:
TABLE 18.2: COMPONENTS OF OTHER EXPENSE
(Millions)202420232022
Data processing and equipment$2,888 $2,805 $2,606 
Professional services2,274 2,029 2,074 
Gain on sale of Accertify (a)
(531)— — 
Other
1,733 1,973 1,801 
Total Other expenses$6,364 $6,807 $6,481 
(a)Refer to Note 1 for additional information.
v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Components of income tax expense
The components of income tax expense for the years ended December 31 included in the Consolidated Statements of Income were as follows:
TABLE 20.1: COMPONENTS OF INCOME TAX EXPENSE
(Millions)202420232022
Current income tax expense:
U.S. federal$2,368 $2,455 $2,445 
U.S. state and local494 351 339 
Non-U.S.894 662 476 
Total current income tax expense3,756 3,468 3,260 
Deferred income tax (benefit) expense:
U.S. federal(797)(952)(763)
U.S. state and local(146)(139)(117)
Non-U.S.(47)(238)(309)
Total deferred income tax (benefit) expense(990)(1,329)(1,189)
Total income tax expense$2,766 $2,139 $2,071 
Effective income tax rate reconciliation
A reconciliation of the U.S. federal statutory rate of 21 percent as of December 31, 2024, 2023 and 2022, to our actual income tax rate was as follows:
TABLE 20.2: RECONCILIATION OF ACTUAL INCOME TAX RATE
 202420232022
U.S. statutory federal income tax rate21.0 %21.0 %21.0 %
(Decrease) increase in taxes resulting from:
Tax credits and tax-exempt income
(0.7)(0.7)(0.9)
State and local income taxes, net of federal benefit2.5 2.4 3.1 
Non-U.S. subsidiaries’ earnings (a)
(1.0)(0.8)(0.1)
Tax settlements and lapse of statute of limitations
(0.5)(2.0)(2.1)
Valuation allowances
— 0.1 (0.1)
Other0.2 0.3 0.7 
Actual tax rates21.5 %20.3 %21.6 %
(a)In certain jurisdictions outside the United States, we benefit from agreements that temporarily lower our income tax expense. The impact of these agreements was not material to our Consolidated Statements of Income.
Components of deferred tax assets and liabilities
The significant components of deferred tax assets and liabilities as of December 31 are reflected in the following table:
TABLE 20.3: COMPONENTS OF DEFERRED TAX ASSETS AND LIABILITIES
(Millions)20242023
Deferred tax assets:
Reserves not yet deducted for tax purposes$4,950 $4,552 
Employee compensation and benefits343 335 
Net operating loss and tax credit carryforwards464 466 
Capitalized developed software
1,084 743 
Other853 723 
Gross deferred tax assets7,694 6,819 
Valuation allowance(655)(614)
Deferred tax assets after valuation allowance7,039 6,205 
Deferred tax liabilities:
Intangibles and fixed assets673 683 
Deferred revenue— 62 
Deferred interest113 114 
Other579 566 
Gross deferred tax liabilities1,365 1,425 
Net deferred tax assets$5,674 $4,780 
Changes in unrecognized tax benefits
The following table presents changes in unrecognized tax benefits:
TABLE 20.4: ROLLFORWARD OF UNRECOGNIZED TAX BENEFITS
(Millions)202420232022
Balance, January 1$875 $962 $1,024 
Increases:
Current year tax positions161 132 119 
Tax positions related to prior years47 40 30 
Decreases:
Tax positions related to prior years
(4)(50)(30)
Settlements with tax authorities
(39)(160)(74)
Lapse of statute of limitations(21)(49)(104)
Effects of foreign currency translations(13)— (3)
Balance, December 31$1,006 $875 $962 
v3.25.0.1
Earnings Per Common Share (EPS) (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Computation of basic and diluted EPS
The computations of basic and diluted EPS for the years ended December 31 were as follows:
TABLE 21.1: COMPUTATION OF BASIC AND DILUTED EARNINGS PER SHARE
(Millions, except per share amounts)
202420232022
Numerator:
Basic and diluted:
Net income
$10,129 $8,374 $7,514 
Preferred dividends(58)(58)(57)
Net income available to common shareholders10,071 8,316 7,457 
Earnings allocated to participating share awards
(76)(64)(57)
Net income attributable to common shareholders
$9,995 $8,252 $7,400 
Denominator:
Basic: Weighted-average common stock
712 735 751 
Add: Weighted-average stock options (a)
1 1 1 
Diluted
713 736 752 
Basic EPS
$14.04 $11.23 $9.86 
Diluted EPS$14.01 $11.21 $9.85 
(a)The dilutive effect of unexercised stock options excludes from the computation of EPS 0.05 million, 1.38 million and 0.39 million of options for the years ended December 31, 2024, 2023 and 2022, respectively, because inclusion of the options would have been anti-dilutive.
v3.25.0.1
Regulatory Matters and Capital Adequacy (Tables)
 12 Months Ended
Dec. 31, 2024
Regulatory Matters And Capital Adequacy [Abstract]  
Regulatory capital ratios
The following table presents the regulatory capital ratios:
TABLE 22.1: REGULATORY CAPITAL RATIOS
(Millions, except percentages)CET 1
capital		Tier 1 capitalTotal capitalCET 1 capital
ratio		Tier 1 capital
ratio		Total capital
ratio		Tier 1 leverage
ratio		Supplementary
Leverage
Ratio
December 31, 2024: (a)
American Express Company$24,860 $26,405 $31,127 10.5 %11.2 %13.2 %9.8 %8.3 %
American Express National Bank$18,748 $18,748 $21,289 11.6 %11.6 %13.2 %9.6 %8.0 %
December 31, 2023: (a)
American Express Company$23,174 $24,779 $28,784 10.5 %11.3 %13.1 %9.9 %(b)
American Express National Bank$17,038 $17,038 $19,548 11.6 %11.6 %13.3 %9.5 %(b)
Well-capitalized ratios (c)
American Express CompanyN/A6.0 %10.0 %N/AN/A
American Express National Bank6.5 %8.0 %10.0 %5.0 %N/A
Minimum capital ratios (d)
4.5 %6.0 %8.0 %4.0 %3.0 %
Effective Minimum (e)
American Express Company7.0 %8.5 %10.5 %4.0 %3.0 %
American Express National Bank7.0 %8.5 %10.5 %4.0 %3.0 %
(a)Capital ratios reported using Basel III capital definitions and risk-weighted assets using the Basel III standardized approach.
(b)We became a Category III firm in the third quarter of 2024 and thus are subject to a minimum SLR of 3 percent beginning with the fourth quarter of 2024.
(c)Represents requirements for bank holding companies and banking subsidiaries to be considered “well capitalized” pursuant to regulations issued under the Federal Reserve Regulation Y and the Federal Deposit Insurance Corporation Improvement Act, respectively. There is no CET1 capital ratio, Tier 1 leverage ratio or SLR requirement for a bank holding company to be considered “well capitalized.”
(d)As defined by the regulations issued by the Federal Reserve and OCC.
(e)Represents Basel III minimum capital requirement and applicable regulatory buffers as defined by the federal banking regulators, which includes the stress capital buffer for American Express Company and the capital conservation buffer for American Express National Bank.
v3.25.0.1
Significant Credit Concentrations (Tables)
 12 Months Ended
Dec. 31, 2024
Risks and Uncertainties [Abstract]  
Maximum credit exposure by category
The following table details our maximum credit exposure of the on-balance sheet assets by category as of December 31:
TABLE 23.1: MAXIMUM CREDIT EXPOSURE OF ON-BALANCE SHEET ASSETS
(Billions)20242023
Individuals: (a)
$194 $178 
United States160 145 
Outside the United States (b)
34 33 
Institutions:
Financial services (c)
9 12 
Other (d)
17 17 
Federal Reserve Bank
35 37 
U.S. Government and agencies (e)
— 1 
Total on-balance sheet$255 $245 
(a)Primarily reflects loans and receivables from global consumer and small business Card Members, which are governed by individual credit risk management.
(b)The geographic regions with the largest concentration outside the United States include the United Kingdom, Japan, the European Union, Australia, Canada and Mexico.
(c)Represents banks, broker-dealers, insurance companies and savings and loan associations, which are governed by institutional credit risk management.
(d)Primarily reflects loans and receivables from global corporate Card Members, which are governed by institutional credit risk management.
(e)Represent debt obligations of the U.S. Government and its agencies, states and municipalities and government-sponsored entities. Risk management for these balances is governed by our Asset and Liability Management Committee.
v3.25.0.1
Reportable Operating Segments and Geographic Operations (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Operating segment information The following tables present certain selected financial information for our reportable operating segments and Corporate & Other as of or for the years ended December 31, 2024, 2023 and 2022.
TABLE 24.1: SELECTED FINANCIAL INFORMATION BY SEGMENT
(Millions)
USCSCSICSGMNS
Corporate & Other (a)
Consolidated
2024
Total non-interest revenues$20,137 $13,219 $10,369 $6,729 $(48)$50,406 
Revenue from contracts with customers (b)
14,481 11,559 6,766 6,051 (32)38,825 
Interest income14,430 4,374 2,331 52 2,608 23,795 
Interest expense3,140 1,734 1,239 (703)2,842 8,252 
Net interest income11,290 2,640 1,092 755 (234)15,543 
Total revenues net of interest expense31,427 15,859 11,461 7,484 (282)65,949 
Provisions for credit losses
3,029 1,389 726 42 (1)5,185 
Total revenues net of interest expense after provisions for credit losses
28,398 14,470 10,735 7,442 (281)60,764 
Expenses
Card Member rewards, business development and Card Member services (c)
14,329 6,504 5,243 1,148 43 27,267 
Marketing
3,051 1,319 1,235 411 24 6,040 
Salaries and employee benefits and other operating expenses
4,641 3,142 3,226 1,485 2,068 14,562 
Total expenses
22,021 10,965 9,704 3,044 2,135 47,869 
Pretax income (loss)$6,377 $3,505 $1,031 $4,398 $(2,416)$12,895 
Total assets
$114,228 $58,969 $42,879 $17,712 $37,673 $271,461 
(Millions)
USCSCSICSGMNS
Corporate & Other (a)
Consolidated
2023
Total non-interest revenues$18,464 $12,931 $9,472 $6,620 $(106)$47,381 
Revenue from contracts with customers (b)
13,715 11,379 6,155 6,006 (37)37,218 
Interest income12,336 3,328 2,076 57 2,186 19,983 
Interest expense2,684 1,483 1,118 (719)2,283 6,849 
Net interest income9,652 1,845 958 776 (97)13,134 
Total revenues net of interest expense28,116 14,776 10,430 7,396 (203)60,515 
Provisions for credit losses
2,855 1,313 727 27 1 4,923 
Total revenues net of interest expense after provisions for credit losses
25,261 13,463 9,703 7,369 (204)55,592 
Expenses
Card Member rewards, business development and Card Member services (c)
12,808 6,332 4,588 1,218 46 24,992 
Marketing
2,585 1,090 1,081 437 20 5,213 
Salaries and employee benefits and other operating expenses
4,435 3,180 3,061 2,058 2,140 14,874 
Total expenses
19,828 10,602 8,730 3,713 2,206 45,079 
Pretax income (loss)$5,433 $2,861 $973 $3,656 $(2,410)$10,513 
Total assets
$107,158 $55,361 $42,234 $23,714 $32,641 $261,108 
(Millions)USCSCSICSGMNS
Corporate & Other (a)
Consolidated
2022
Total non-interest revenues$16,440 $12,196 $8,262 $6,123 $(54)$42,967 
Revenue from contracts with customers (b)
12,478 10,844 5,301 5,603 (7)34,219 
Interest income8,457 2,070 1,453 23 655 12,658 
Interest expense983 697 654 (329)758 2,763 
Net interest income7,474 1,373 799 352 (103)9,895 
Total revenues net of interest expense23,914 13,569 9,061 6,475 (157)52,862 
Provisions for credit losses
1,021 565 584 7 5 2,182 
Total revenues net of interest expense after provisions for credit losses
22,893 13,004 8,477 6,468 (162)50,680 
Expenses
Card Member rewards, business development and Card Member services (c)
10,791 6,116 3,816 1,192 (11)21,904 
Marketing
2,744 1,122 1,146 419 27 5,458 
Salaries and employee benefits and other operating expenses
3,958 2,886 2,937 1,903 2,049 13,733 
Total expenses
17,493 10,124 7,899 3,514 2,065 41,095 
Pretax income (loss)$5,400 $2,880 $578 $2,954 $(2,227)$9,585 
Total assets
$94,444 $51,411 $36,891 $20,005 $25,603 $228,354 
(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.
(c)Card Member rewards, business development and Card Member services expenses are generally correlated to volumes or are variable based on usage.
Total revenues net of interest expense and pretax income
The following table presents our total revenues net of interest expense and pretax income (loss) from continuing operations in different geographic regions based, in part, upon internal allocations, which necessarily involve management’s judgment.
TABLE 24.2: SUMMARY OF TOTAL REVENUE AND PRETAX INCOME BY REGION
(Millions)United States
EMEA(a)
APAC(a)
LACC(a)
Other Unallocated(b)
Consolidated
2024
Total revenues net of interest expense$51,471 $6,216 $4,698 $3,845 $(281)$65,949 
Pretax income (loss) from continuing operations12,919 935 656 803 (2,418)12,895 
2023
Total revenues net of interest expense$47,140 $5,633 $4,372 $3,571 $(201)$60,515 
Pretax income (loss) from continuing operations10,717 854 592 760 (2,410)10,513 
2022
Total revenues net of interest expense$41,396 $4,871 $3,835 $2,917 $(157)$52,862 
Pretax income (loss) from continuing operations10,383 550 376 500 (2,224)9,585 
(a)EMEA represents Europe, the Middle East and Africa; APAC represents Asia Pacific, Australia and New Zealand; and LACC represents Latin America, Canada and the Caribbean.
(b)Other Unallocated includes net costs which are not directly allocated to specific geographic regions, including costs related to the net negative interest spread on excess liquidity funding and executive office operations expenses.
v3.25.0.1
Parent Company (Tables)
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Condensed statements of income and comprehensive income PARENT COMPANY – CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Years Ended December 31 (Millions)
202420232022
Revenues
Non-interest revenues
Other$390 $407 $388 
Total non-interest revenues390 407 388 
Interest income1,858 1,558 614 
Interest expense1,869 1,436 857 
Total revenues net of interest expense379 529 145 
Expenses
Salaries and employee benefits474 487 408 
Other385 408 372 
Total expenses859 895 780 
Loss before income tax and equity in net income of subsidiaries
(480)(366)(635)
Income tax benefit(126)(163)(244)
Equity in net income of subsidiaries and affiliates10,483 8,577 7,905 
Net income$10,129 $8,374 $7,514 
Net unrealized pension and other postretirement benefits, net of tax41 5 10 
Other comprehensive income (loss), net
(364)133 (275)
Comprehensive income$9,806 $8,512 $7,249 
Condensed balance sheets PARENT COMPANY – CONDENSED BALANCE SHEETS
As of December 31 (Millions)
20242023
Assets  
Cash and cash equivalents$7,293 $9,652 
Equity in net assets of subsidiaries and affiliates30,165 28,019 
Loans to subsidiaries and affiliates28,897 25,471 
Due from subsidiaries and affiliates1,291 1,261 
Other assets573 349 
Total assets68,219 64,752 
Liabilities and Shareholders’ Equity
Liabilities
Accounts payable and other liabilities2,239 2,188 
Due to subsidiaries and affiliates404 555 
Long-term debt35,312 33,952 
Total liabilities37,955 36,695 
Shareholders’ Equity
Total shareholders’ equity30,264 28,057 
Total liabilities and shareholders’ equity$68,219 $64,752 
Condensed statements of cash flows PARENT COMPANY – CONDENSED STATEMENTS OF CASH FLOWS
Years Ended December 31 (Millions)
202420232022
Cash Flows from Operating Activities
Net income$10,129 $8,374 $7,514 
Adjustments to reconcile net income to cash provided by operating activities:
Equity in net income of subsidiaries and affiliates(10,483)(8,577)(7,905)
Dividends received from subsidiaries and affiliates8,027 5,326 5,549 
Other operating activities, primarily with subsidiaries and affiliates14 360 160 
Net cash provided by operating activities7,687 5,483 5,318 
Cash Flows from Investing Activities
Net increase in loans to subsidiaries and affiliates(3,449)(2,836)(4,850)
Investments in subsidiaries and affiliates(55)— (1)
Other investing activities5 — — 
Net cash used in investing activities(3,499)(2,836)(4,851)
Cash Flows from Financing Activities
Net decrease in short-term debt from subsidiaries and affiliates— — (136)
Proceeds from long-term debt8,872 9,969 13,202 
Payments of long-term debt(7,500)(5,750)(5,675)
Issuance of American Express common shares 100 28 56 
Repurchase of American Express common shares and other(6,020)(3,650)(3,502)
Dividends paid(1,999)(1,780)(1,565)
Net cash (used in) provided by financing activities(6,547)(1,183)2,380 
Net (decrease) increase in cash and cash equivalents(2,359)1,464 2,847 
Cash and cash equivalents at beginning of year9,652 8,188 5,341 
Cash and cash equivalents at end of year$7,293 $9,652 $8,188 
v3.25.0.1
Summary of Significant Accounting Policies - Business Events (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Gain on sale of Accertify   $ 531 $ 0 $ 0
Accertify        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Gain on sale of Accertify $ 531      
Gain on sale of Accertify, net of tax $ 479      
v3.25.0.1
Summary of Significant Accounting Policies - Discount Revenue (Details)
 12 Months Ended
Dec. 31, 2024
Minimum  
Disaggregation of Revenue [Line Items]  
Contract terms with large merchants 3 years
Maximum  
Disaggregation of Revenue [Line Items]  
Contract terms with large merchants 7 years
v3.25.0.1
Summary of Significant Accounting Policies - Card Member Loans HFS (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 01, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue [Line Items]        
Reversal of reserve for credit losses   $ (5,185) $ (4,923) $ (2,182)
Card Member loans        
Disaggregation of Revenue [Line Items]        
Financing receivables held for sale $ 758 758 0  
Reversal of reserve for credit losses $ 49 $ (4,109) $ (3,839) $ (1,514)
v3.25.0.1
Summary of Significant Accounting Policies - Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]    
Goodwill impairment charges $ 0 $ 0
v3.25.0.1
Summary of Significant Accounting Policies - Premises and Equipment (Details)
Dec. 31, 2024
Equipment, Furniture And Building Improvements | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful life 3 years
Equipment, Furniture And Building Improvements | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful life 10 years
Premises | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful life 40 years
Premises | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful life 50 years
Software  
Property, Plant and Equipment [Line Items]  
Estimated useful life 5 years
Leasehold Improvements | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful life 5 years
Leasehold Improvements | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful life 10 years
v3.25.0.1
Loans and Card Member Receivables - Card Member and other Loans (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Card Member loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivables, gross $ 139,674 $ 125,995    
Financing receivables, reserves for credit losses 5,679 5,118 $ 3,747 $ 3,305
Financing receivables, net 133,995 120,877    
Card Member loans | Consumer        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivables, gross 107,646 98,111    
Card Member loans | Small Business        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivables, gross 31,991 27,833    
Card Member loans | Corporate        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivables, gross 37 51    
Other Loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivables, reserves for credit losses 194 126    
Financing receivables, net 9,038 6,960    
Variable Interest Entity, Primary Beneficiary | Card Member loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivables, gross 28,278 28,590    
Variable Interest Entity, Primary Beneficiary | Card Member loans | Consumer        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivables, gross $ 28,300 $ 28,600    
v3.25.0.1
Loans and Card Member Receivables - Card Member Receivables (Details) - Card Member receivables - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivables, gross $ 59,411 $ 60,411    
Financing receivables, reserves for credit losses 171 174 $ 229 $ 64
Financing receivables, net 59,240 60,237    
Consumer        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivables, gross 25,431 25,578    
Small Business        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivables, gross 18,619 19,286    
Corporate        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivables, gross 15,361 15,547    
Variable Interest Entity, Primary Beneficiary        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivables, gross 3,927 4,587    
Variable Interest Entity, Primary Beneficiary | Corporate        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivables, gross $ 3,900 $ 4,600    
v3.25.0.1
Loans and Card Member Receivables - Aging (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans over 90 days past due and accruing interest     $ 309
Non-accruals     $ 191
Threshold period past due for write-off     180 days
Card Member loans      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Threshold period past due 30 days    
Financing receivables, gross $ 139,674 $ 125,995  
Threshold period past due for write-off 180 days    
Card Member loans | Consumer      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross $ 107,646 98,111  
Loans over 90 days past due and accruing interest 435 393 $ 252
Non-accruals 464 344 155
Card Member loans | Small Business      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 31,991 27,833  
Loans over 90 days past due and accruing interest 132 109 54
Non-accruals 135 95 34
Card Member loans | Corporate      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 37 51  
Loans over 90 days past due and accruing interest 0 0 0
Non-accruals $ 0 0 0
Card Member receivables      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Threshold period past due 30 days    
Financing receivables, gross $ 59,411 60,411  
Threshold period past due for write-off 180 days    
Card Member receivables | Consumer      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross $ 25,431 25,578  
Loans over 90 days past due and accruing interest 0 0 0
Non-accruals 0 0 0
Card Member receivables | Small Business      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 18,619 19,286  
Loans over 90 days past due and accruing interest 0 0 0
Non-accruals 0 0 0
Card Member receivables | Corporate      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 15,361 15,547  
Loans over 90 days past due and accruing interest 0 0 0
Non-accruals 0 0 $ 0
Current | Card Member loans | Consumer      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 106,155 96,779  
Current | Card Member loans | Small Business      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 31,510 27,444  
Current | Card Member receivables | Consumer      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 25,255 25,355  
Current | Card Member receivables | Small Business      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 18,400 19,020  
30-59 Days Past Due | Card Member loans | Consumer      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 437 420  
30-59 Days Past Due | Card Member loans | Small Business      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 151 133  
30-59 Days Past Due | Card Member receivables | Consumer      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 58 70  
30-59 Days Past Due | Card Member receivables | Small Business      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 77 104  
60-89 Days Past Due | Card Member loans | Consumer      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 329 298  
60-89 Days Past Due | Card Member loans | Small Business      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 107 85  
60-89 Days Past Due | Card Member receivables | Consumer      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 39 47  
60-89 Days Past Due | Card Member receivables | Small Business      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 54 62  
90+ Days Past Due | Card Member loans | Consumer      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 725 614  
90+ Days Past Due | Card Member loans | Small Business      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 223 171  
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 79 106  
90+ Days Past Due | Card Member receivables | Small Business      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross 88 100  
90+ Days Past Due | Card Member receivables | Corporate      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Financing receivables, gross $ 65 $ 67  
v3.25.0.1
Loans and Card Member Receivables - Credit Quality (Details)
Dec. 31, 2024
Dec. 31, 2023
Credit Quality Indicator for Loans and Receivables    
90+ Days Past Billing as a % of total 0.40% 0.40%
Card Member loans | Consumer    
Credit Quality Indicator for Loans and Receivables    
30+ Days Past Due as a % of Total 1.40% 1.40%
Card Member loans | Small Business    
Credit Quality Indicator for Loans and Receivables    
30+ Days Past Due as a % of Total 1.50% 1.40%
Card Member loans | Net Write-Off Rate - Principal Only | Consumer    
Credit Quality Indicator for Loans and Receivables    
Net Write-Off Rate 2.20% 1.80%
Card Member loans | Net Write-Off Rate - Principal Only | Small Business    
Credit Quality Indicator for Loans and Receivables    
Net Write-Off Rate 2.30% 1.70%
Card Member loans | Net Write-Off Rate Principal Interest, and Fees | Consumer    
Credit Quality Indicator for Loans and Receivables    
Net Write-Off Rate 2.70% 2.20%
Card Member loans | Net Write-Off Rate Principal Interest, and Fees | Small Business    
Credit Quality Indicator for Loans and Receivables    
Net Write-Off Rate 2.60% 1.90%
Card Member receivables | Consumer    
Credit Quality Indicator for Loans and Receivables    
30+ Days Past Due as a % of Total 0.70% 0.90%
Card Member receivables | Small Business    
Credit Quality Indicator for Loans and Receivables    
30+ Days Past Due as a % of Total 1.20% 1.40%
Card Member receivables | Net Write-Off Rate - Principal Only | Consumer    
Credit Quality Indicator for Loans and Receivables    
Net Write-Off Rate 1.20% 1.50%
Card Member receivables | Net Write-Off Rate - Principal Only | Small Business    
Credit Quality Indicator for Loans and Receivables    
Net Write-Off Rate 1.90% 2.20%
Card Member receivables | Net Write-Off Rate Principal Interest, and Fees | Consumer    
Credit Quality Indicator for Loans and Receivables    
Net Write-Off Rate 1.30% 1.60%
Card Member receivables | Net Write-Off Rate Principal Interest, and Fees | Small Business    
Credit Quality Indicator for Loans and Receivables    
Net Write-Off Rate 2.00% 2.40%
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% 0.60%
v3.25.0.1
Loans and Card Member Receivables - Modifications (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Modifications [Line Items]    
Maximum payment term extension 60 months  
Unused credit available $ 82  
Account Balances 3,172 $ 3,089
Card Member loans | Interest Rate Reduction | Consumer    
Financing Receivable, Modifications [Line Items]    
Account Balances $ 1,770 $ 1,572
% of Total Class of Financing Receivables 1.60% 1.60%
Weighted Average Interest Rate Reduction (% points) 18.30% 16.40%
Card Member loans | Interest Rate Reduction | Small Business    
Financing Receivable, Modifications [Line Items]    
Account Balances $ 646 $ 550
% of Total Class of Financing Receivables 2.00% 2.00%
Weighted Average Interest Rate Reduction (% points) 17.50% 15.90%
Card Member loans | Interest Rate Reduction | Corporate    
Financing Receivable, Modifications [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, Modifications [Line Items]    
Account Balances $ 256 $ 346
% of Total Class of Financing Receivables 1.00% 1.40%
Weighted Average Payment Term Extensions (# of months) 30 months 27 months
Card Member receivables | Term Extension | Small Business    
Financing Receivable, Modifications [Line Items]    
Account Balances $ 401 $ 543
% of Total Class of Financing Receivables 2.20% 2.80%
Weighted Average Payment Term Extensions (# of months) 30 months 28 months
Card Member receivables | Term Extension | Corporate    
Financing Receivable, Modifications [Line Items]    
Account Balances $ 13 $ 13
% of Total Class of Financing Receivables 0.10% 0.10%
Weighted Average Payment Term Extensions (# of months) 9 months 9 months
Other Loans | Interest Rate Reduction and Term Extension    
Financing Receivable, Modifications [Line Items]    
Account Balances $ 56 $ 42
% of Total Class of Financing Receivables 0.60% 0.60%
Weighted Average Interest Rate Reduction (% points) 2.60% 2.10%
Weighted Average Payment Term Extensions (# of months) 20 months 20 months
Other Loans | Term Extension    
Financing Receivable, Modifications [Line Items]    
Account Balances $ 30 $ 23
% of Total Class of Financing Receivables 0.30% 0.30%
Weighted Average Interest Rate Reduction (% points) 0.00% 0.00%
Weighted Average Payment Term Extensions (# of months) 18 months 18 months
v3.25.0.1
Loans and Card Member Receivables - Modifications that Subsequently Defaulted (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default $ 157 $ 97 $ 120
Interest Rate Reduction and Term Extension      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 2 1  
Interest Rate Reduction      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 128 73  
Term Extension      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 27 23  
Card Member loans      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default     81
Card Member loans | Consumer      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 88 53  
Card Member loans | Small Business      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 40 20  
Card Member loans | Corporate      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 0 0  
Card Member loans | Interest Rate Reduction and Term Extension | Consumer      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 0 0  
Card Member loans | Interest Rate Reduction and Term Extension | Small Business      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 0 0  
Card Member loans | Interest Rate Reduction and Term Extension | Corporate      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 0 0  
Card Member loans | Interest Rate Reduction | Consumer      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 88 53  
Card Member loans | Interest Rate Reduction | Small Business      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 40 20  
Card Member loans | Interest Rate Reduction | Corporate      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 0 0  
Card Member receivables      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default     38
Card Member receivables | Consumer      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 10 9  
Card Member receivables | Small Business      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 17 14  
Card Member receivables | Corporate      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 0 0  
Card Member receivables | Interest Rate Reduction and Term Extension | Consumer      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 0 0  
Card Member receivables | Interest Rate Reduction and Term Extension | Small Business      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 0 0  
Card Member receivables | Interest Rate Reduction and Term Extension | Corporate      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 0 0  
Card Member receivables | Term Extension | Consumer      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 10 9  
Card Member receivables | Term Extension | Small Business      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 17 14  
Card Member receivables | Term Extension | Corporate      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 0 0  
Other Loans      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 2 1 $ 1
Other Loans | Interest Rate Reduction and Term Extension      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 2 1  
Other Loans | Interest Rate Reduction      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default 0 0  
Other Loans | Term Extension      
Financing Receivable, Modifications [Line Items]      
Account balance, modified and subsequent default $ 0 $ 0  
v3.25.0.1
Loans and Card Member Receivables - Performance (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable, Modifications [Line Items]      
Account Balances     $ 1,733
Current      
Financing Receivable, Modifications [Line Items]      
Account Balances $ 2,863 $ 2,785  
30-89 Days Past Due      
Financing Receivable, Modifications [Line Items]      
Account Balances 220 231  
90+ Days Past Due      
Financing Receivable, Modifications [Line Items]      
Account Balances 89 73  
Card Member loans | Consumer      
Financing Receivable, Modifications [Line Items]      
Account Balances     781
Card Member loans | Small Business      
Financing Receivable, Modifications [Line Items]      
Account Balances     267
Card Member loans | Corporate      
Financing Receivable, Modifications [Line Items]      
Account Balances     0
Card Member loans | Current | Consumer      
Financing Receivable, Modifications [Line Items]      
Account Balances 1,615 1,433  
Card Member loans | Current | Small Business      
Financing Receivable, Modifications [Line Items]      
Account Balances 568 489  
Card Member loans | Current | Corporate      
Financing Receivable, Modifications [Line Items]      
Account Balances 0 0  
Card Member loans | 30-89 Days Past Due | Consumer      
Financing Receivable, Modifications [Line Items]      
Account Balances 110 103  
Card Member loans | 30-89 Days Past Due | Small Business      
Financing Receivable, Modifications [Line Items]      
Account Balances 56 45  
Card Member loans | 30-89 Days Past Due | Corporate      
Financing Receivable, Modifications [Line Items]      
Account Balances 0 0  
Card Member loans | 90+ Days Past Due | Consumer      
Financing Receivable, Modifications [Line Items]      
Account Balances 45 36  
Card Member loans | 90+ Days Past Due | Small Business      
Financing Receivable, Modifications [Line Items]      
Account Balances 22 16  
Card Member loans | 90+ Days Past Due | Corporate      
Financing Receivable, Modifications [Line Items]      
Account Balances 0 0  
Card Member receivables | Consumer      
Financing Receivable, Modifications [Line Items]      
Account Balances     257
Card Member receivables | Small Business      
Financing Receivable, Modifications [Line Items]      
Account Balances     403
Card Member receivables | Corporate      
Financing Receivable, Modifications [Line Items]      
Account Balances     6
Card Member receivables | Current | Consumer      
Financing Receivable, Modifications [Line Items]      
Account Balances 234 314  
Card Member receivables | Current | Small Business      
Financing Receivable, Modifications [Line Items]      
Account Balances 357 479  
Card Member receivables | Current | Corporate      
Financing Receivable, Modifications [Line Items]      
Account Balances 10 11  
Card Member receivables | 30-89 Days Past Due | Consumer      
Financing Receivable, Modifications [Line Items]      
Account Balances 16 25  
Card Member receivables | 30-89 Days Past Due | Small Business      
Financing Receivable, Modifications [Line Items]      
Account Balances 31 52  
Card Member receivables | 30-89 Days Past Due | Corporate      
Financing Receivable, Modifications [Line Items]      
Account Balances 2 2  
Card Member receivables | 90+ Days Past Due | Consumer      
Financing Receivable, Modifications [Line Items]      
Account Balances 6 7  
Card Member receivables | 90+ Days Past Due | Small Business      
Financing Receivable, Modifications [Line Items]      
Account Balances 13 12  
Card Member receivables | 90+ Days Past Due | Corporate      
Financing Receivable, Modifications [Line Items]      
Account Balances 1 0  
Other Loans      
Financing Receivable, Modifications [Line Items]      
Account Balances     $ 19
Other Loans | Current      
Financing Receivable, Modifications [Line Items]      
Account Balances 79 59  
Other Loans | 30-89 Days Past Due      
Financing Receivable, Modifications [Line Items]      
Account Balances 5 4  
Other Loans | 90+ Days Past Due      
Financing Receivable, Modifications [Line Items]      
Account Balances $ 2 $ 2  
v3.25.0.1
Loans and Card Member Receivables - Impaired Loans and Receivables, Prior to Adoption (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Impaired loans and receivables      
Loans over 90 days past due and accruing interest     $ 309
Non-accruals     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      
Threshold period past due for write-off     180 days
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      
Accounts Receivable and Loans Textuals      
Threshold period past due for write-off 180 days    
Card Member loans | Consumer      
Impaired loans and receivables      
Loans over 90 days past due and accruing interest $ 435 $ 393 252
Non-accruals 464 344 155
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 132 109 54
Non-accruals 135 95 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 0
Non-accruals $ 0 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      
Accounts Receivable and Loans Textuals      
Threshold period past due for write-off 180 days    
Card Member receivables | Consumer      
Impaired loans and receivables      
Loans over 90 days past due and accruing interest $ 0 0 0
Non-accruals 0 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 0
Non-accruals 0 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 0
Non-accruals $ 0 $ 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-accruals     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
v3.25.0.1
Loans and Card Member Receivables - Modified as TDR, Prior to Adoption (Details)
account in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2022
USD ($)
account
Financing Receivable, Modifications [Line Items]  
Number of Accounts | account 180
Account Balances | $ $ 1,910
Card Member loans  
Financing Receivable, Modifications [Line Items]  
Number of Accounts | account 149
Account Balances | $ $ 1,002
Average Interest Rate Reduction (as a percent) 14.00%
Card Member receivables  
Financing Receivable, Modifications [Line Items]  
Number of Accounts | account 27
Account Balances | $ $ 900
Average Payment Term Extension (in months) 20 months
Other Loans  
Financing Receivable, Modifications [Line Items]  
Number of Accounts | account 4
Account Balances | $ $ 8
Average Interest Rate Reduction (as a percent) 2.00%
Average Payment Term Extension (in months) 17 months
v3.25.0.1
Loans and Card Member Receivables - TDR Subsequently Defaulted, Prior to Adoption (Details)
account in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
account
Financing Receivable, Modifications [Line Items]      
Number of Accounts | account     18
Aggregated Outstanding Balances Upon Default | $ $ 157 $ 97 $ 120
Card Member loans      
Financing Receivable, Modifications [Line Items]      
Number of Accounts | account     14
Aggregated Outstanding Balances Upon Default | $     $ 81
Card Member receivables      
Financing Receivable, Modifications [Line Items]      
Number of Accounts | account     3
Aggregated Outstanding Balances Upon Default | $     $ 38
Other Loans      
Financing Receivable, Modifications [Line Items]      
Number of Accounts | account     1
Aggregated Outstanding Balances Upon Default | $ $ 2 $ 1 $ 1
v3.25.0.1
Reserves for Credit Losses (Details Textual)
Dec. 31, 2024
Dec. 31, 2022
Financing Receivable, Past Due [Line Items]    
CECL reasonable and supportable period 3 years  
Threshold period past due for write-off   180 days
Revolving Loans    
Financing Receivable, Past Due [Line Items]    
Threshold period past due for write-off 180 days  
Pay In Full Loans    
Financing Receivable, Past Due [Line Items]    
Threshold period past due for write-off 180 days  
Term Loans    
Financing Receivable, Past Due [Line Items]    
Threshold period past due for write-off 120 days  
v3.25.0.1
Reserves for Credit Losses - Key Variables (Details)
Dec. 31, 2024
Dec. 31, 2023
U.S. Unemployment Rate | Fourth quarter of 2024    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Financing receivable, reserves for credit losses, measurement input 0.04  
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
U.S. Unemployment Rate | Minimum | First quarter of 2025    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Financing receivable, reserves for credit losses, measurement input 0.04 0.03
U.S. Unemployment Rate | Minimum | Fourth quarter of 2025    
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 2026    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Financing receivable, reserves for credit losses, measurement input 0.03 0.03
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
U.S. Unemployment Rate | Maximum | First quarter of 2025    
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 2025    
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 2026    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Financing receivable, reserves for credit losses, measurement input 0.07 0.06
U.S. GDP Growth (Contraction) | Fourth quarter of 2024    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Financing receivable, reserves for credit losses, measurement input 0.02  
U.S. GDP Growth (Contraction) | Fourth quarter of 2026    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Financing receivable, reserves for credit losses, measurement input 0.02  
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   0.01
U.S. GDP Growth (Contraction) | Minimum | First quarter of 2025    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Financing receivable, reserves for credit losses, measurement input (0.03) 0.01
U.S. GDP Growth (Contraction) | Minimum | Fourth quarter of 2025    
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) | Minimum | Fourth quarter of 2026    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Financing receivable, reserves for credit losses, measurement input   0.02
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   0.03
U.S. GDP Growth (Contraction) | Maximum | First quarter of 2025    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Financing receivable, reserves for credit losses, measurement input 0.04 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 0.03  
U.S. GDP Growth (Contraction) | Maximum | Fourth quarter of 2026    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Financing receivable, reserves for credit losses, measurement input   0.03
v3.25.0.1
Reserves for Credit Losses - Changes in Loan Reserve (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 01, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Provisions   $ 5,185 $ 4,923 $ 2,182
Reversal of reserve for credit losses   (5,185) (4,923) (2,182)
Card Member loans        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning Balance   5,118 3,747 3,305
Provisions $ (49) 4,109 3,839 1,514
Other   (33) 18 (6)
Ending Balance   5,679 5,118 3,747
Reversal of reserve for credit losses $ 49 (4,109) (3,839) (1,514)
Recoveries   730 537 539
Foreign currency translation adjustments   (33) 18 (6)
Card Member loans | Principal        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Net write-offs   (2,894) (2,043) (837)
Card Member loans | Interest and fees        
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Net write-offs   $ (621) $ (443) $ (229)
v3.25.0.1
Reserves for Credit Losses - Change in Receivables Reserve (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Provisions $ 5,185 $ 4,923 $ 2,182
Card Member receivables      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning Balance 174 229 64
Provisions 774 880 627
Net write-offs (773) (937) (462)
Other (4) 2 0
Ending Balance 171 174 229
Recoveries 304 297 257
Card Member receivables | Foreign Currency Translation Adjustments      
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Foreign currency translation adjustments $ (4) $ 1 $ 2
v3.25.0.1
Investment Securities (Details Textual) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]    
Accrued interest available-for-sale debt securities $ 3 $ 5
v3.25.0.1
Investment Securities - Summary (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Available-for-sale debt securities:    
Cost $ 1,203  
Estimated Fair Value 1,192 $ 2,120
Equity securities    
Cost 53 60
Gross Unrealized Gains 4 16
Gross Unrealized Losses (9) (10)
Estimated Fair Value 48 66
Total Cost 1,256 2,198
Total Gross Unrealized Gains 5 17
Total Gross Unrealized Losses (21) (29)
Total Estimated Fair Value 1,240 2,186
New public companies    
Equity securities    
Cost 3  
Estimated Fair Value 7  
State and municipal obligations    
Available-for-sale debt securities:    
Cost 57 61
Gross Unrealized Gains 1 0
Gross Unrealized Losses (9) (6)
Estimated Fair Value 49 55
U.S. Government agency obligations    
Available-for-sale debt securities:    
Cost 4 4
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value 4 4
U.S. Government treasury obligations    
Available-for-sale debt securities:    
Cost 289 1,217
Gross Unrealized Gains 0 1
Gross Unrealized Losses (2) (12)
Estimated Fair Value 287 1,206
Mortgage-backed securities    
Available-for-sale debt securities:    
Cost 11 12
Gross Unrealized Gains 0 0
Gross Unrealized Losses (1) (1)
Estimated Fair Value 10 11
Foreign government bonds and obligations    
Available-for-sale debt securities:    
Cost 765 770
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value 765 770
Other    
Available-for-sale debt securities:    
Cost 77 74
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value $ 77 $ 74
v3.25.0.1
Investment Securities - Gross Unrealized Losses (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Available-for-sale investment securities with gross unrealized losses and length of time    
Estimated Fair Value, Less than 12 months $ 0 $ 0
Estimated Fair Value, 12 months or more 152 1,154
Available-for-sale investment securities with gross unrealized losses    
Gross Unrealized Losses, Less than 12 months 0 0
Gross Unrealized Losses, 12 months or more (12) (19)
State and municipal obligations    
Available-for-sale investment securities with gross unrealized losses and length of time    
Estimated Fair Value, Less than 12 months 0 0
Estimated Fair Value, 12 months or more 22 33
Available-for-sale investment securities with gross unrealized losses    
Gross Unrealized Losses, Less than 12 months 0 0
Gross Unrealized Losses, 12 months or more (9) (6)
U.S. Government treasury obligations    
Available-for-sale investment securities with gross unrealized losses and length of time    
Estimated Fair Value, Less than 12 months 0 0
Estimated Fair Value, 12 months or more 123 1,114
Available-for-sale investment securities with gross unrealized losses    
Gross Unrealized Losses, Less than 12 months 0 0
Gross Unrealized Losses, 12 months or more (2) (12)
Mortgage-backed securities    
Available-for-sale investment securities with gross unrealized losses and length of time    
Estimated Fair Value, Less than 12 months 0 0
Estimated Fair Value, 12 months or more 7 7
Available-for-sale investment securities with gross unrealized losses    
Gross Unrealized Losses, Less than 12 months 0 0
Gross Unrealized Losses, 12 months or more $ (1) $ (1)
v3.25.0.1
Investment Securities - Gross Unrealized Losses Ratio to Fair Value (Details)
$ in Millions
Dec. 31, 2024
USD ($)
security
Dec. 31, 2023
USD ($)
security
Available-for-sale investment securities with gross unrealized losses    
Number of Securities, Less than 12 months | security 0 0
Number of Securities, 12 months or more | security 45 71
Number of Securities, Total | security 45 71
Available-for-sale investment securities with gross unrealized losses and length of time    
Estimated Fair Value, Less than 12 months $ 0 $ 0
Estimated Fair Value, 12 months or more 152 1,154
Estimated Fair Value, Total 152 1,154
Available-for-sale investment securities with gross unrealized losses    
Gross Unrealized Losses, Less than 12 months 0 0
Gross Unrealized Losses, 12 months or more (12) (19)
Gross Unrealized Losses, Total $ (12) $ (19)
90%–100%    
Available-for-sale investment securities with gross unrealized losses    
Number of Securities, Less than 12 months | security 0 0
Number of Securities, 12 months or more | security 30 69
Number of Securities, Total | security 30 69
Available-for-sale investment securities with gross unrealized losses and length of time    
Estimated Fair Value, Less than 12 months $ 0 $ 0
Estimated Fair Value, 12 months or more 129 1,140
Estimated Fair Value, Total 129 1,140
Available-for-sale investment securities with gross unrealized losses    
Gross Unrealized Losses, Less than 12 months 0 0
Gross Unrealized Losses, 12 months or more (3) (14)
Gross Unrealized Losses, Total $ (3) $ (14)
Less than 90%    
Available-for-sale investment securities with gross unrealized losses    
Number of Securities, Less than 12 months | security 0 0
Number of Securities, 12 months or more | security 15 2
Number of Securities, Total | security 15 2
Available-for-sale investment securities with gross unrealized losses and length of time    
Estimated Fair Value, Less than 12 months $ 0 $ 0
Estimated Fair Value, 12 months or more 23 14
Estimated Fair Value, Total 23 14
Available-for-sale investment securities with gross unrealized losses    
Gross Unrealized Losses, Less than 12 months 0 0
Gross Unrealized Losses, 12 months or more (9) (5)
Gross Unrealized Losses, Total $ (9) $ (5)
v3.25.0.1
Investment Securities - Contractual Maturities (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Total Estimated Fair Value      
Due within 1 year $ 953    
Due after 1 year but within 5 years 166    
Due after 5 years but within 10 years 33    
Due after 10 years 40    
Total 1,192 $ 2,120  
Total Cost      
Due within 1 year 955    
Due after 1 year but within 5 years 166    
Due after 5 years but within 10 years 32    
Due after 10 years 50    
Total $ 1,203    
Weighted average yields      
Weighted average yields, due within 1 year 5.33%    
Weighted average yields, due after 1 years but within 5 years 3.71%    
Weighted average yields, due after 5 years but within 10 years 4.81%    
Weighted average yield, due after 10 years 2.73%    
Total 4.98%    
U.S. statutory federal income tax rate 21.00% 21.00% 21.00%
State and municipal obligations      
Total Estimated Fair Value      
Due within 1 year $ 0    
Due after 1 year but within 5 years 0    
Due after 5 years but within 10 years 23    
Due after 10 years 26    
Total 49 $ 55  
Total Cost      
Total 57 61  
U.S. Government agency obligations      
Total Estimated Fair Value      
Due within 1 year 0    
Due after 1 year but within 5 years 0    
Due after 5 years but within 10 years 0    
Due after 10 years 4    
Total 4 4  
Total Cost      
Total 4 4  
U.S. Government treasury obligations      
Total Estimated Fair Value      
Due within 1 year 189    
Due after 1 year but within 5 years 98    
Due after 5 years but within 10 years 0    
Due after 10 years 0    
Total 287 1,206  
Total Cost      
Total 289 1,217  
Mortgage-backed securities      
Total Estimated Fair Value      
Due within 1 year 0    
Due after 1 year but within 5 years 0    
Due after 5 years but within 10 years 0    
Due after 10 years 10    
Total 10 11  
Total Cost      
Total 11 12  
Foreign government bonds and obligations      
Total Estimated Fair Value      
Due within 1 year 764    
Due after 1 year but within 5 years 1    
Due after 5 years but within 10 years 0    
Due after 10 years 0    
Total 765 770  
Total Cost      
Total 765 770  
Other      
Total Estimated Fair Value      
Due within 1 year 0    
Due after 1 year but within 5 years 67    
Due after 5 years but within 10 years 10    
Due after 10 years 0    
Total 77 74  
Total Cost      
Total $ 77 $ 74  
v3.25.0.1
Asset Securitizations (Details Textual) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Securitized Trusts [Line Items]    
Restricted cash and cash equivalents $ 427 $ 514
Lending Trust    
Securitized Trusts [Line Items]    
Direct and indirect ownership of variable interests 14,600 15,300
Restricted cash and cash equivalents 88 66
Charge Trust    
Securitized Trusts [Line Items]    
Direct and indirect ownership of variable interests 3,900 4,600
Restricted cash and cash equivalents $ 0 $ 0
v3.25.0.1
Other Assets - Summary (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other Assets [Abstract]      
Goodwill $ 4,187 $ 3,851 $ 3,786
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Total Total  
Right-of-use lease assets $ 804 $ 770  
Other intangible assets, at amortized cost 123 98  
Other 16,065 14,395  
Total $ 21,179 $ 19,114  
v3.25.0.1
Other Assets - Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Roll Forward]    
Goodwill, beginning balance $ 3,851 $ 3,786
Acquisitions 394 48
Dispositions (27) 0
Other (31) 17
Goodwill, ending balance 4,187 3,851
USCS    
Goodwill [Roll Forward]    
Goodwill, beginning balance 379 379
Acquisitions 394 0
Dispositions 0 0
Other (1) 0
Goodwill, ending balance 772 379
CS    
Goodwill [Roll Forward]    
Goodwill, beginning balance 2,151 2,122
Acquisitions 0 30
Dispositions 0 0
Other (3) (1)
Goodwill, ending balance 2,148 2,151
ICS    
Goodwill [Roll Forward]    
Goodwill, beginning balance 743 725
Acquisitions 0 0
Dispositions 0 0
Other (27) 18
Goodwill, ending balance 716 743
GMNS    
Goodwill [Roll Forward]    
Goodwill, beginning balance 578 560
Acquisitions 0 18
Dispositions (27) 0
Other 0 0
Goodwill, ending balance $ 551 $ 578
v3.25.0.1
Other Assets (Details Textual) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other Assets [Line Items]      
Accumulated goodwill impairment losses $ 221 $ 221  
Gross carrying amount 642 717  
Accumulated amortization 519 619  
Amortization expense 46 49 $ 51
Expected amortization expense in 2025 35    
Expected amortization expense in 2026 25    
Expected amortization expense in 2027 23    
Expected amortization expense in 2028 18    
Expected amortization expense in 2029 15    
Expected amortization expense thereafter 7    
Tax credit investments $ 1,568 $ 1,369  
Investment, Proportional Amortization Method, Elected, Statement of Financial Position [Extensible Enumeration] Other assets Other assets  
Tax credit investments unfunded commitment $ 682    
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization, Statement of Cash Flows [Extensible Enumeration] Accounts payable & other liabilities Accounts payable & other liabilities Accounts payable & other liabilities
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Cash Flows [Extensible Enumeration] Accounts payable & other liabilities Accounts payable & other liabilities Accounts payable & other liabilities
Earliest Year      
Other Assets [Line Items]      
Tax credit investments commitment, year to be paid 2025    
Latest Year      
Other Assets [Line Items]      
Tax credit investments commitment, year to be paid 2040    
Variable Interest Entity, Primary Beneficiary      
Other Assets [Line Items]      
Tax credit investments $ 1,168 $ 1,126  
Investment, Proportional Amortization Method, Elected, Statement of Financial Position [Extensible Enumeration] Other assets Other assets  
Tax credit investments unfunded commitment $ 401    
Variable Interest Entity, Primary Beneficiary | Off-Balance Sheet Obligations      
Other Assets [Line Items]      
Tax credit investments off balance sheet obligation $ 4    
Minimum      
Other Assets [Line Items]      
Estimated useful lives 1 year    
Maximum      
Other Assets [Line Items]      
Estimated useful lives 22 years    
v3.25.0.1
Other Assets - Tax Credit Investments Expenses and Related Income Tax Credits and Other Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]      
Proportional amortization recognized in tax provision $ 193 $ 185 $ 161
Investment Program, Proportional Amortization Method, Applied, Amortization Expense, Statement of Income or Comprehensive Income [Extensible Enumeration] Income tax provision Income tax provision Income tax provision
Equity method expenses recognized in Other, net expenses $ 0 $ 0 $ 9
Investment Program, Proportional Amortization Method, Elected, Income Tax Credit and Other Income Tax Benefit, before Amortization, Statement of Income or Comprehensive Income [Extensible Enumeration] Income tax provision Income tax provision Income tax provision
Income tax credits and Other income tax benefits (a) recognized in tax provision $ 221 $ 204 $ 196
v3.25.0.1
Customer Deposits - Categorized as Interest or Non-interest Bearing (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
U.S.:    
Interest-bearing $ 138,433 $ 128,146
Non-interest-bearing (includes Card Member credit balances of: 2024, $513; 2023, $495) 566 557
Non-U.S.:    
Interest-bearing 17 12
Non-interest-bearing (includes Card Member credit balances of: 2024, $395; 2023, $426) 397 429
Total customer deposits 139,413 129,144
Card Member Credit Balances    
U.S.:    
Non-interest-bearing (includes Card Member credit balances of: 2024, $513; 2023, $495) 513 495
Non-U.S.:    
Non-interest-bearing (includes Card Member credit balances of: 2024, $395; 2023, $426) $ 395 $ 426
v3.25.0.1
Customer Deposits - By Deposit Type (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Deposits, by Type    
Savings accounts $ 108,364 $ 92,324
Checking accounts 2,045 1,398
Certificates of deposit:    
Direct 4,303 5,557
Third-party (brokered) 8,109 12,960
Sweep accounts – Third-party (brokered) 15,612 15,907
Total U.S. interest-bearing deposits 138,433 128,146
Other deposits 72 77
Total customer deposits 139,413 129,144
Card Member Credit Balances    
Certificates of deposit:    
Card Member credit balances $ 908 $ 921
v3.25.0.1
Customer Deposits - Scheduled Maturities (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Time Deposits By Maturity  
2025 $ 7,409
2026 2,244
2027 1,399
2028 701
2029 669
After 5 years 0
Total 12,422
Non-U.S. direct certificates of deposit $ 10
v3.25.0.1
Customer Deposits (Details Textual) - USD ($)
$ in Billions
Dec. 31, 2024
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]    
Certificates of deposit that met or exceeded the insured limit $ 1.4 $ 1.8
v3.25.0.1
Debt - Short-term Borrowings (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Short-term Debt [Line Items]    
Outstanding Balance $ 1,374 $ 1,293
Short-term Debt    
Short-term Debt [Line Items]    
Year-End Stated Rate on Debt (as a percent) 2.47% 1.03%
Other Short Term Borrowings    
Short-term Debt [Line Items]    
Outstanding Balance $ 1,374 $ 1,293
Other Short Term Borrowings | Short-term Debt    
Short-term Debt [Line Items]    
Year-End Stated Rate on Debt (as a percent) 2.47% 1.03%
v3.25.0.1
Debt (Details Textual)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Debt Instrument [Line Items]      
Line of credit maximum capacity $ 4,000.0 $ 4,000.0  
Fees to maintain credit lines 14.2 20.2  
Interest paid $ 8,200.0 6,400.0 $ 2,200.0
Minimum      
Debt Instrument [Line Items]      
Common equity tier one ratio 4.5    
Maximum      
Debt Instrument [Line Items]      
Common equity tier one ratio 6.5    
Short-term Debt      
Debt Instrument [Line Items]      
Fees to maintain credit lines $ 11.9 12.0  
Lending Trust      
Debt Instrument [Line Items]      
Debt term 3 years    
Line of credit maximum capacity $ 3,000.0    
Subsidiaries      
Debt Instrument [Line Items]      
Line of credit maximum capacity 191.0 185.0  
Amount drawn from committed lines 16.0 0.0  
Charge Trust      
Debt Instrument [Line Items]      
Line of credit maximum capacity $ 3,000.0    
Debt instrument, term 3 years    
Specified date face amount of eligible notes issued Jul. 15, 2026    
Amount drawn from committed lines $ 0.0 $ 0.0  
v3.25.0.1
Debt - Long-term Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Outstanding balance $ 49,715 $ 47,866
Unamortized Underwriting Fees (96)  
Long-term Debt    
Debt Instrument [Line Items]    
Outstanding balance $ 49,715 $ 47,866
Year-End Stated Rate on Debt (as a percent) 4.51% 3.96%
Unamortized Underwriting Fees $ (96) $ (93)
Parent Company    
Debt Instrument [Line Items]    
Outstanding balance 35,312 33,952
Fixed Rate Senior Notes | Parent Company | Long-term Debt | American Express Company    
Debt Instrument [Line Items]    
Outstanding balance $ 14,582 $ 20,930
Year-End Stated Rate on Debt (as a percent) 3.66% 3.48%
Year-End Interest Rate with Swaps (as a percent) 3.80% 4.14%
Fixed Rate Senior Notes | Subsidiaries | Long-term Debt | American Express Credit Corporation    
Debt Instrument [Line Items]    
Outstanding balance $ 333 $ 330
Year-End Stated Rate on Debt (as a percent) 3.30% 3.30%
Year-End Interest Rate with Swaps (as a percent) 0.00% 0.00%
Fixed Rate Senior Notes | Subsidiaries | Long-term Debt | Lending Trust    
Debt Instrument [Line Items]    
Outstanding balance $ 13,934 $ 13,449
Year-End Stated Rate on Debt (as a percent) 4.23% 3.36%
Year-End Interest Rate with Swaps (as a percent) 4.32% 3.49%
Floating Rate Senior Notes | Parent Company | Long-term Debt | American Express Company    
Debt Instrument [Line Items]    
Outstanding balance $ 3,000 $ 2,400
Year-End Stated Rate on Debt (as a percent) 5.49% 6.21%
Year-End Interest Rate with Swaps (as a percent) 0.00%
Fixed-to-Floating Rate Senior Notes | Parent Company | Long-term Debt | American Express Company    
Debt Instrument [Line Items]    
Outstanding balance $ 15,973 $ 8,769
Year-End Stated Rate on Debt (as a percent) 5.35% 5.38%
Year-End Interest Rate with Swaps (as a percent) 5.57% 5.91%
Fixed Rate Subordinated Notes | Parent Company | Long-term Debt | American Express Company    
Debt Instrument [Line Items]    
Outstanding balance $ 0 $ 586
Year-End Stated Rate on Debt (as a percent) 0.00% 3.63%
Year-End Interest Rate with Swaps (as a percent) 0.00% 6.74%
Fixed-to-Floating Rate Subordinated Notes | Parent Company | Long-term Debt | American Express Company    
Debt Instrument [Line Items]    
Outstanding balance $ 1,742 $ 1,257
Year-End Stated Rate on Debt (as a percent) 5.44% 5.24%
Year-End Interest Rate with Swaps (as a percent) 5.80% 5.92%
Floating Rate Borrowings | Subsidiaries | Long-term Debt | Other Subsidiaries    
Debt Instrument [Line Items]    
Outstanding balance $ 247 $ 238
Year-End Stated Rate on Debt (as a percent) 0.76% 0.42%
Year-End Interest Rate with Swaps (as a percent) 0.00% 0.00%
v3.25.0.1
Debt - Annual Maturities of Long-term Debt Obligations (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Aggregate annual maturities on long-term debt obligations    
2025 $ 12,557  
2026 8,863  
2027 10,678  
2028 5,050  
2029 3,500  
Thereafter 9,623  
Total 50,271  
Unamortized Underwriting Fees (96)  
Unamortized Discount and Premium (487)  
Impacts due to Fair Value Hedge Accounting 27 $ 53
Total Long-Term Debt 49,715 47,866
Parent Company    
Aggregate annual maturities on long-term debt obligations    
2025 5,250  
2026 6,700  
2027 8,012  
2028 3,700  
2029 2,500  
Thereafter 9,623  
Total 35,785  
Total Long-Term Debt 35,312 $ 33,952
American Express Credit Corporation    
Aggregate annual maturities on long-term debt obligations    
2025 0  
2026 0  
2027 339  
2028 0  
2029 0  
Thereafter 0  
Total 339  
Lending Trust    
Aggregate annual maturities on long-term debt obligations    
2025 7,250  
2026 2,100  
2027 2,200  
2028 1,350  
2029 1,000  
Thereafter  
Total 13,900  
Other Subsidiaries    
Aggregate annual maturities on long-term debt obligations    
2025 57  
2026 63  
2027 127  
2028  
2029  
Thereafter  
Total $ 247  
v3.25.0.1
Other Liabilities - Summary (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Summary of other liabilities    
Membership Rewards liability $ 14,752 $ 13,742
Deferred card and other fees, net 4,042 3,442
Book overdraft balances 3,461 9,897
Employee-related liabilities 2,676 2,567
Card Member rebate and reward accruals 2,121 2,061
Income tax liability 1,386 1,275
Other 8,373 8,655
Total 36,811 41,639
Repatriation tax liability $ 749 $ 998
v3.25.0.1
Other Liabilities - Deferred Card and Other Fees (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Other Liabilities Disclosure [Abstract]    
Deferred card and other fees $ 4,475 $ 3,818
Deferred direct acquisition costs (180) (158)
Reserves for membership cancellations (253) (218)
Deferred card and other fees, net $ 4,042 $ 3,442
v3.25.0.1
Stock-Based Compensation (Details Textual) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Oct. 31, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Common shares unissued and available for grant (in shares)   20 7 9
Stock-based compensation expense   $ 508 $ 450 $ 373
Stock-based compensation expense, income tax benefit   $ 124 $ 110 $ 90
Stock Option        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period   3 years    
Stock options contractual term   10 years    
Dividend yield (as a percent)   1.50% 1.40% 1.00%
Expected volatility (as a percent)   31.00% 32.00% 31.00%
Risk-free interest rate (as a percent)   3.90% 3.50% 1.70%
Remaining performance period (in years)   6 years 10 months 24 days 7 years 1 month 6 days 7 years 1 month 6 days
Weighted-average fair value per option (in dollars per share)   $ 68.79 $ 60.03 $ 55.30
Stock-based compensation, unrecognized compensation cost   $ 19    
Weighted-average remaining vesting period   1 year 3 months 18 days    
Intrinsic value for options exercised   $ 179 $ 26 $ 56
Cash received from exercise of stock options   100 28 56
Income tax benefit related to stock option exercises   $ 25 $ 4 $ 9
Stock Option | Senior Executives        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock options contractual term 7 years      
Dividend yield (as a percent) 1.40%      
Expected volatility (as a percent) 34.00%      
Risk-free interest rate (as a percent) 3.90%      
Remaining performance period (in years) 7 years      
Weighted-average fair value per option (in dollars per share) $ 50.10      
Stock Option | Senior Executives | Minimum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period 3 years      
Stock Option | Senior Executives | Maximum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period 4 years      
RSUs        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Expected volatility (as a percent)   30.00% 45.00% 42.00%
Risk-free interest rate (as a percent)   4.00% 3.70% 1.40%
Remaining performance period (in years)   2 years 10 months 24 days 2 years 10 months 24 days 2 years 10 months 24 days
Stock-based compensation, unrecognized compensation cost   $ 266    
Weighted-average remaining vesting period   1 year 9 months 18 days    
RSAs/RSUs Weighted-average grant date fair value of RSAs granted (in dollars per share)   $ 188.37 $ 163.88 $ 168.26
Total fair value of shares vested   $ 437 $ 389 $ 323
Liability-Based Awards        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Cash paid upon vesting of PGs   $ 60 $ 55 $ 50
Service and Performance-Based RSUs        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period   3 years    
RSAs/RSUs Weighted-average grant date fair value of RSAs granted (in dollars per share)   $ 176.09    
Service and Performance-Based RSUs | Minimum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Award vesting target (as a percent)   0.00%    
Service and Performance-Based RSUs | Maximum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Award vesting target (as a percent)   120.00%    
Service-Based RSUs        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
RSAs/RSUs Weighted-average grant date fair value of RSAs granted (in dollars per share)   $ 204.68    
Service-Based RSUs | 2022 and subsequent        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period   3 years    
Service-Based RSUs | Prior to 2022        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period   4 years    
v3.25.0.1
Stock-Based Compensation - Stock Options and RSUs Outstanding and Changes (Details)
shares in Thousands
 12 Months Ended
Dec. 31, 2024
$ / shares
shares
Stock Options, Number  
Beginning balance (in shares) | shares 3,553
Granted (in shares) | shares 273
Exercised (in shares) | shares (1,108)
Forfeited (in shares) | shares 0
Expired (in shares) | shares 0
Ending balance (in shares) | shares 2,718
Stock Options, Weighted-Average Exercise Price  
Beginning balance, weighted average exercise price (in dollars per share) | $ / shares $ 119.80
Granted, weighted average exercise price (in dollars per share) | $ / shares 201.07
Exercised, weighted average exercise price (in dollars per share) | $ / shares 91.39
Forfeited, weighted average exercise price (in dollars per share) | $ / shares 0
Expired, weighted average exercise price (in dollars per share) | $ / shares 0
Ending balance, weighted average exercise price (in dollars per share) | $ / shares $ 139.54
RSUs, Weighted-Average Grant-Date Fair Value  
Options vested and expected to vest (in shares) | shares 2,718
Options exercisable (in shares) | shares 1,047
Options vested and expected to vest, Weighted Average Exercise Price (in dollars per share) | $ / shares $ 139.54
Options exercisable, Weighted Average Exercise Price (in dollars per share) | $ / shares $ 99.23
Service-Based RSUs  
RSUs, Number  
Beginning balance (in shares) | shares 1,827
Granted (in shares) | shares 922
Vested (in shares) | shares (844)
Forfeited (in shares) | shares (98)
Ending balance (in shares) | shares 1,807
RSUs, Weighted-Average Grant-Date Fair Value  
Beginning balance, weighted average grant price (in dollars per share) | $ / shares $ 159.95
RSAs/RSUs Granted, Weighted Average Grant Price (in dollars per share) | $ / shares 204.68
Vested, weighted average grant price (in dollars per share) | $ / shares 155.92
Forfeited, weighted average grant price (in dollars per share) | $ / shares 182.64
Ending balance, weighted average grant price (in dollars per share) | $ / shares $ 183.41
Service and Performance-Based RSUs  
RSUs, Number  
Beginning balance (in shares) | shares 3,296
Granted (in shares) | shares 1,223
Vested (in shares) | shares (1,284)
Forfeited (in shares) | shares (209)
Ending balance (in shares) | shares 3,026
RSUs, Weighted-Average Grant-Date Fair Value  
Beginning balance, weighted average grant price (in dollars per share) | $ / shares $ 144.64
RSAs/RSUs Granted, Weighted Average Grant Price (in dollars per share) | $ / shares 176.09
Vested, weighted average grant price (in dollars per share) | $ / shares 108.44
Forfeited, weighted average grant price (in dollars per share) | $ / shares 169.93
Ending balance, weighted average grant price (in dollars per share) | $ / shares $ 170.97
v3.25.0.1
Stock-Based Compensation - Assumptions Used for Stock Options (Details) - Stock Option - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Weighted Average Assumptions Used      
Dividend yield (as a percent) 1.50% 1.40% 1.00%
Expected volatility (as a percent) 31.00% 32.00% 31.00%
Risk-free interest rate (as a percent) 3.90% 3.50% 1.70%
Expected life of stock option 6 years 10 months 24 days 7 years 1 month 6 days 7 years 1 month 6 days
Weighted-average fair value per option (in dollars per share) $ 68.79 $ 60.03 $ 55.30
v3.25.0.1
Stock-Based Compensation - Weighted-average Remaining Contractual Life and Aggregate Intrinsic Value of Stock Options (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Weighted-average remaining contractual life and aggregate intrinsic value of the Company's stock options outstanding, exerciseable, and vested and expected to vest  
Weighted-average remaining contractual life, Outstanding 5 years 3 months 18 days
Aggregate intrinsic value, Outstanding $ 427
Weighted-average remaining contractual life, Exercisable 3 years 8 months 12 days
Aggregate intrinsic value, Exercisable $ 207
Weighted-average remaining contractual life, Vested and Expected to Vest 5 years 3 months 18 days
Aggregate intrinsic value, Vested and Expected to Vest $ 427
v3.25.0.1
Stock-Based Compensation - Assumptions Used for RSUs (Details) - RSUs
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected volatility (as a percent) 30.00% 45.00% 42.00%
Risk-free interest rate (as a percent) 4.00% 3.70% 1.40%
Remaining performance period (in years) 2 years 10 months 24 days 2 years 10 months 24 days 2 years 10 months 24 days
v3.25.0.1
Retirement Plans (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Contribution Plans      
Retirement Plans (Textuals) [Abstract]      
Total expense for all defined contribution retirement plans $ 365 $ 380 $ 259
Other Postretirement Benefit Plans      
Retirement Plans (Textuals) [Abstract]      
Total net benefit 18 12 $ 24
Defined benefit plans, unfunded status $ 88 $ 212  
v3.25.0.1
Contingencies and Commitments (Details Textual)
$ in Millions
 1 Months Ended 12 Months Ended
Jan. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
state
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Loss Contingencies [Line Items]        
Total lease expense   $ 189 $ 164 $ 188
Lease Liabilities   $ 933 $ 926  
Weighted average remaining lease term   17 years 19 years  
Weighted average lease discount rate (as a percent)   4.00% 3.00%  
Commitments related to agreements with certain cobrand partners   $ 12,900    
American Express National Bank        
Loss Contingencies [Line Items]        
Carrying value of Federal Reserve Bank shares held   $ 132 $ 132  
Violation Of Federal Antitrust Law And Consumer Laws Class Action Case | Holders of Visa and MasterCard Debit Cards        
Loss Contingencies [Line Items]        
Number of states with remaining claims | state   8    
Violation Of Federal Antitrust Law And Consumer Laws Class Action Case | Holders of Visa, MasterCard and Discover Credit Cards with no Rewards or Annual Fee        
Loss Contingencies [Line Items]        
Number of states with remaining claims | state   2    
Investigations into Historical Sales Practices | Subsequent Event [Member]        
Loss Contingencies [Line Items]        
Amount required to pay for resolution $ 230      
Minimum        
Loss Contingencies [Line Items]        
Loss contingency, estimate of possible loss   $ 0    
Financial commitments, period   5 years    
Maximum        
Loss Contingencies [Line Items]        
Loss contingency, estimate of possible loss   $ 160    
Financial commitments, period   10 years    
v3.25.0.1
Contingencies and Commitments - Maturities of Outstanding Lease Commitments (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Minimum aggregate rental commitment under all noncancelable operating leases    
2025 $ 160  
2026 146  
2027 129  
2028 121  
2029 106  
Thereafter 771  
Total Outstanding Fixed Lease Payments (a) 1,433  
Less: Amount representing interest (500)  
Lease Liabilities $ 933 $ 926
Operating Lease, Liability, Statement of Financial Position [Extensible List] Other Liabilities Other Liabilities
Operating Lease, Lease Not yet Commenced    
Minimum aggregate rental commitment under all noncancelable operating leases    
Leases not yet commenced $ 346  
v3.25.0.1
Derivatives and Hedging Activities (Details Textual) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivatives, Fair Value [Line Items]      
Margin on interest rate swap not netted $ 368 $ 175  
Hedged Liability, Statement of Financial Position [Extensible Enumeration] Outstanding balance Outstanding balance  
Carrying values of hedged liabilities $ 18,900 $ 11,700  
Cumulative amount of fair value hedging adjustments 27 53  
Increase (decrease) in interest expense on long term debt and other 254 189 $ (57)
Not Designated as Hedging Instrument      
Derivatives, Fair Value [Line Items]      
Notional amount of derivatives 28,800 25,300  
Other Expense      
Derivatives, Fair Value [Line Items]      
Gain (loss) in changes in fair value of derivatives not designated as hedges 102 82 8
Credit Valuation Adjustment      
Derivatives, Fair Value [Line Items]      
Derivative, amount of hedged item 0 0  
Fair Value Hedges | Fixed-Rate Debt Obligations      
Derivatives, Fair Value [Line Items]      
Derivative, amount of hedged item 18,900 11,700  
Net Investment Hedges      
Derivatives, Fair Value [Line Items]      
Notional amount of derivatives 14,300 14,100  
Gain (loss) on net investment hedges, net of taxes 816 (640) 237
Reclassifications out of AOCI 0 0 0
Embedded Derivative | Not Designated as Hedging Instrument      
Derivatives, Fair Value [Line Items]      
Notional amount of derivatives 78 78  
Fair value of embedded derivative asset, gross 31 18  
Embedded Derivative | Noninterest Income | Not Designated as Hedging Instrument      
Derivatives, Fair Value [Line Items]      
Gain (loss) on embedded derivative $ 13 $ (9) $ 4
v3.25.0.1
Derivatives and Hedging Activities - Derivatives Summary (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Derivatives, Fair Value [Line Items]    
Total derivative assets, gross $ 1,006 $ 80
Total derivative liabilities, gross 131 977
Derivative asset and derivative liability netting, assets (91) (57)
Derivative asset and derivative liability netting, liabilities (91) (57)
Cash collateral netting, assets (18) 0
Cash collateral netting, liabilities (23) (106)
Total derivatives assets, net 897 23
Total derivatives liabilities, net $ 17 $ 814
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other assets Other assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other Liabilities Other Liabilities
Other Assets | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Total derivative assets, gross $ 340 $ 9
Other Assets | Interest Rate Contract | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Total derivative assets, gross 0 0
Other Assets | Foreign Exchange Contract | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Total derivative assets, gross 340 9
Other Assets | Foreign Exchange Contract | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Total derivative assets, gross 666 71
Other Liabilities | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Total derivative liabilities, gross 41 554
Other Liabilities | Interest Rate Contract | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Total derivative liabilities, gross 23 99
Other Liabilities | Foreign Exchange Contract | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Total derivative liabilities, gross 18 455
Other Liabilities | Foreign Exchange Contract | Not Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Total derivative liabilities, gross $ 90 $ 423
v3.25.0.1
Derivatives and Hedging Activities - Gains and Losses (Details) - Interest Rate Contracts - Fair Value Hedging - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]      
Fixed-rate long-term debt $ 26 $ (289) $ 473
Derivatives designated as hedging instruments (27) 290 (476)
Total $ (1) $ 1 $ (3)
v3.25.0.1
Fair Values - Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Investment securities:    
Equity securities $ 48 $ 66
Debt securities 1,192 2,120
Derivatives, gross 1,006 80
Total Assets 2,246 2,266
Liabilities    
Derivatives, gross 131 977
Total Liabilities 131 977
Fair Value, Inputs, Level 1    
Investment securities:    
Equity securities 48 66
Debt securities 0 0
Derivatives, gross 0 0
Total Assets 48 66
Liabilities    
Derivatives, gross 0 0
Total Liabilities 0 0
Fair Value, Inputs, Level 2    
Investment securities:    
Equity securities 0 0
Debt securities 1,115 2,046
Derivatives, gross 975 62
Total Assets 2,090 2,108
Liabilities    
Derivatives, gross 131 977
Total Liabilities 131 977
Fair Value, Inputs, Level 3    
Investment securities:    
Equity securities 0 0
Debt securities 77 74
Derivatives, gross 31 18
Total Assets 108 92
Liabilities    
Derivatives, gross 0 0
Total Liabilities $ 0 $ 0
v3.25.0.1
Fair Values - Not Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Card Member loans    
Fair Values (Textuals)    
Financing receivables, gross $ 139,674 $ 125,995
Card Member receivables    
Fair Values (Textuals)    
Financing receivables, gross 59,411 60,411
Variable Interest Entity, Primary Beneficiary | Card Member loans    
Fair Values (Textuals)    
Financing receivables, gross 28,278 28,590
Variable Interest Entity, Primary Beneficiary | Card Member receivables    
Fair Values (Textuals)    
Financing receivables, gross 3,927 4,587
Carrying Value    
Financial assets for which carrying values equal or approximate fair value    
Cash and cash equivalents 41,000 47,000
Other financial assets 63,000 63,000
Financial assets carried at other than fair value    
Card Member and Other loans, less reserves   128,000
Financial Liabilities:    
Financial liabilities for which carrying values equal or approximate fair value 155,000 143,000
Financial liabilities carried at other than fair value    
Long-term debt 50,000 48,000
Carrying Value | Certificates of deposit    
Financial liabilities carried at other than fair value    
Financial liabilities 12,000 19,000
Carrying Value | Card Member loans    
Financial assets carried at other than fair value    
Card Member and Other loans, less reserves 143,000  
Carrying Value | Card Member loans HFS    
Financial assets carried at other than fair value    
Card Member loans HFS 1,000  
Corresponding Fair Value Amount    
Financial assets for which carrying values equal or approximate fair value    
Cash and cash equivalents 41,000 47,000
Other financial assets 63,000 63,000
Financial Liabilities:    
Financial liabilities for which carrying values equal or approximate fair value 155,000 143,000
Corresponding Fair Value Amount | Variable Interest Entity, Primary Beneficiary | Card Member receivables    
Fair Values (Textuals)    
Financing receivables, gross 3,900 4,600
Corresponding Fair Value Amount | Fair Value, Inputs, Level 1    
Financial assets for which carrying values equal or approximate fair value    
Cash and cash equivalents 39,000 45,000
Other financial assets 0 0
Financial Liabilities:    
Financial liabilities for which carrying values equal or approximate fair value 0 0
Corresponding Fair Value Amount | Fair Value, Inputs, Level 2    
Financial assets for which carrying values equal or approximate fair value    
Cash and cash equivalents 2,000 2,000
Other financial assets 63,000 63,000
Financial Liabilities:    
Financial liabilities for which carrying values equal or approximate fair value 155,000 143,000
Corresponding Fair Value Amount | Fair Value, Inputs, 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   133,000
Financial liabilities carried at other than fair value    
Long-term debt 50,000 48,000
Portion at Other than Fair Value Measurement | Certificates of deposit    
Financial liabilities carried at other than fair value    
Financial liabilities 12,000 18,000
Portion at Other than Fair Value Measurement | Card Member loans    
Financial assets carried at other than fair value    
Card Member and Other loans, less reserves 149,000  
Portion at Other than Fair Value Measurement | Card Member loans HFS    
Financial assets carried at other than fair value    
Card Member loans HFS 1,000  
Portion at Other than Fair Value Measurement | Variable Interest Entity, Primary Beneficiary    
Financial liabilities carried at other than fair value    
Long-term debt 14,000 13,300
Portion at Other than Fair Value Measurement | Variable Interest Entity, Primary Beneficiary | Card Member loans    
Fair Values (Textuals)    
Financing receivables, gross 28,300 28,600
Portion at Other than Fair Value Measurement | Fair Value, Inputs, Level 1    
Financial assets carried at other than fair value    
Card Member and Other loans, less reserves   0
Financial liabilities carried at other than fair value    
Long-term debt 0 0
Portion at Other than Fair Value Measurement | Fair Value, Inputs, Level 1 | Certificates of deposit    
Financial liabilities carried at other than fair value    
Financial liabilities 0 0
Portion at Other than Fair Value Measurement | Fair Value, Inputs, Level 1 | Card Member loans    
Financial assets carried at other than fair value    
Card Member and Other loans, less reserves 0  
Portion at Other than Fair Value Measurement | Fair Value, Inputs, Level 1 | Card Member loans HFS    
Financial assets carried at other than fair value    
Card Member loans HFS 0  
Portion at Other than Fair Value Measurement | Fair Value, Inputs, Level 2    
Financial assets carried at other than fair value    
Card Member and Other loans, less reserves   0
Financial liabilities carried at other than fair value    
Long-term debt 50,000 48,000
Portion at Other than Fair Value Measurement | Fair Value, Inputs, Level 2 | Certificates of deposit    
Financial liabilities carried at other than fair value    
Financial liabilities 12,000 18,000
Portion at Other than Fair Value Measurement | Fair Value, Inputs, Level 2 | Card Member loans    
Financial assets carried at other than fair value    
Card Member and Other loans, less reserves 0  
Portion at Other than Fair Value Measurement | Fair Value, Inputs, Level 2 | Card Member loans HFS    
Financial assets carried at other than fair value    
Card Member loans HFS 0  
Portion at Other than Fair Value Measurement | Fair Value, Inputs, Level 3    
Financial assets carried at other than fair value    
Card Member and Other loans, less reserves   133,000
Financial liabilities carried at other than fair value    
Long-term debt 0 0
Portion at Other than Fair Value Measurement | Fair Value, Inputs, Level 3 | Certificates of deposit    
Financial liabilities carried at other than fair value    
Financial liabilities 0 $ 0
Portion at Other than Fair Value Measurement | Fair Value, Inputs, Level 3 | Card Member loans    
Financial assets carried at other than fair value    
Card Member and Other loans, less reserves 149,000  
Portion at Other than Fair Value Measurement | Fair Value, Inputs, Level 3 | Card Member loans HFS    
Financial assets carried at other than fair value    
Card Member loans HFS $ 1,000  
v3.25.0.1
Fair Values - Equity Securities Without Readily Determinable Fair Value (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
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 $ 900  
Net upward adjustments of equity securities without readily determinable fair values 85 18 $ 94
Net downward adjustments of equity securities without readily determinable fair values 37 142 $ 388
Cumulative net unrealized gains for equity investments without readily determinable fair values 1,100 1,100  
Cumulative net unrealized losses for equity investments without readily determinable fair values 460 431  
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, 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 $ 1 $ 0  
v3.25.0.1
Guarantees (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Guarantees [Abstract]    
Maximum potential amount of undiscounted future payments $ 1,000 $ 1,000
Amount of related liability $ 10 $ 24
v3.25.0.1
Common and Preferred Shares - Common Shares (Details) - shares
shares in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Equity [Abstract]      
Common shares, authorized (in shares) 3,600 3,600 3,600
Schedule Of Stock By Class [Roll Forward]      
Shares issued and outstanding at beginning of year (in shares) 723 743 761
Repurchases of common shares (in shares) (24) (22) (20)
Net shares issued for RSUs and stock option exercises (in shares) 3 2 2
Shares issued and outstanding as of December 31 (in shares) 702 723 743
Shares reserved for issuance under employee stock and employee benefit plans (in shares) 27    
v3.25.0.1
Common and Preferred Shares (Details Textual) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Mar. 08, 2023
Class of Stock [Line Items]        
Common share repurchases authorized (up to) (in shares)       120.0
Common shares repurchased (in shares) 24.0 22.0 20.0  
Cost basis of common stock repurchased $ 6,020 $ 3,650 $ 3,502  
Common shares remaining under share repurchase authorizations (in shares) 75.0      
Shares held as treasury shares (in shares) 2.2 2.3 2.4  
Cost basis of treasury stock $ 243 $ 252 $ 262  
Preferred shares, authorized, up to (in shares) 20.0 20.0    
Preferred shares, par value (in dollars per share) $ 1.667 $ 1.667    
Redemption price per preferred share (in dollars per share) 1,000,000      
Depositary shares redemption amount (in dollars per share) 1,000      
Series D Preferred Stock        
Class of Stock [Line Items]        
Preferred shares, par value (in dollars per share) $ 1.667      
Repurchase Agreements        
Class of Stock [Line Items]        
Cost basis of common stock repurchased $ 5,900 $ 3,500 3,300  
Commissions and excise tax paid included in cost basis of common stock repurchased $ 55 $ 32    
Commissions paid included in cost basis of common stock repurchased     $ 4  
v3.25.0.1
Common and Preferred Shares - Preferred Shares (Details) - Series D Preferred Stock
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
shares
Preferred Shares [Line Items]  
Securities issued (in shares) | shares 1,600
Depositary shares issued (in shares) | shares 1,600,000
Fixed dividend rate per annum (as a percent) 3.55%
Floating dividend rate per annum (as a percent) 2.854%
Aggregate liquidation preference | $ $ 1,600
Carrying value | $ $ 1,584
v3.25.0.1
Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning Balance $ 28,057 $ 24,711 $ 22,177
Net change (323) 138 (265)
Ending Balance 30,264 28,057 24,711
Tax impact for the changes in each component of accumulated other comprehensive (loss) income      
Total tax impact 218 (145) 75
Accumulated Other Comprehensive Income (Loss)      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning Balance (3,072) (3,210) (2,945)
Net change (323) 138 (265)
Ending Balance (3,395) (3,072) (3,210)
Net Unrealized Gains (Losses) on Debt Securities      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning Balance (14) (64) 23
Net change 5 50 (87)
Ending Balance (9) (14) (64)
Tax impact for the changes in each component of accumulated other comprehensive (loss) income      
Total tax impact 2 16 (27)
Foreign Currency Translation Adjustment Gains (Losses), Net of Hedges      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning Balance (2,571) (2,622) (2,392)
Net change (353) 51 (230)
Ending Balance (2,924) (2,571) (2,622)
Tax impact for the changes in each component of accumulated other comprehensive (loss) income      
Total tax impact 205 (158) 75
Net unrealized pension and other postretirement benefit gains (losses)      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning Balance (487) (524) (576)
Net change 25 37 52
Ending Balance (462) (487) (524)
Tax impact for the changes in each component of accumulated other comprehensive (loss) income      
Total tax impact $ 11 $ (3) $ 27
v3.25.0.1
Changes in Accumulated Other Comprehensive Income (Loss) (Details Textual) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other comprehensive income (loss) $ (323) $ 138 $ (265)
Reclassification out of Accumulated Other Comprehensive Income      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other comprehensive income (loss) $ 0 $ 0 $ 0
v3.25.0.1
Service Fees and Other Revenue and Other Expenses - Service Fees and Other Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Non Interest Revenues [Line Items]      
Total non-interest revenues $ 50,406 $ 47,381 $ 42,967
Service fees and other revenue      
Non Interest Revenues [Line Items]      
Service fees 1,609 1,518 1,444
Foreign currency-related revenue 1,527 1,428 1,202
Delinquency fees 941 963 809
Travel commissions and fees 596 637 507
Other fees and revenues 456 459 559
Total non-interest revenues $ 5,129 $ 5,005 $ 4,521
v3.25.0.1
Service Fees and Other Revenue and Other Expenses - Other Expenses (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Service Fees and Other Revenue and Other Expenses [Abstract]      
Data processing and equipment $ 2,888 $ 2,805 $ 2,606
Professional services 2,274 2,029 2,074
Gain on sale of Accertify (531) 0 0
Other 1,733 1,973 1,801
Total Other expenses $ 6,364 $ 6,807 $ 6,481
v3.25.0.1
Restructuring (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring Charges [Abstract]      
Restructuring reserves $ 217 $ 216 $ 135
Restructuring charges, net of revisions $ 123 $ 179 $ 142
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration] Labor and Related Expense Labor and Related Expense Labor and Related Expense
Cumulative restructuring expense $ 400    
v3.25.0.1
Income Taxes - Components of Income Tax Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current income tax expense:      
U.S. federal $ 2,368 $ 2,455 $ 2,445
U.S. state and local 494 351 339
Non-U.S. 894 662 476
Total current income tax expense 3,756 3,468 3,260
Deferred income tax (benefit) expense:      
U.S. federal (797) (952) (763)
U.S. state and local (146) (139) (117)
Non-U.S. (47) (238) (309)
Total deferred income tax (benefit) expense (990) (1,329) (1,189)
Income tax expense (benefit) $ 2,766 $ 2,139 $ 2,071
v3.25.0.1
Income Taxes (Details Textual) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Contingency [Line Items]          
U.S. statutory federal income tax rate   21.00% 21.00% 21.00%  
Accumulated earnings intended to be permanently reinvested outside the U.S. $ 1,200 $ 1,200      
Aggregate state income and foreign withholding taxes on foreign earnings 100 100      
Income taxes paid   3,600 $ 3,300 $ 3,000  
Unrecognized tax benefits 1,006 1,006 875 962 $ 1,024
Unrecognized tax benefits that would affect effective tax rate 780 780 670 750  
Unrecognized tax benefits change as a result of potential resolutions of prior years' tax 107 107      
Unrecognized tax benefits that, if recognized, could impact effective tax rate 84 84      
Unrecognized tax benefits income tax penalties and interest expense   110 30 $ 10  
Unrecognized tax benefits income tax penalties and interest accrued 500 500 $ 410    
Internal Revenue Service (IRS)          
Income Tax Contingency [Line Items]          
Additional estimated U.S. federal income tax payment 185        
Internal Revenue Service (IRS) | Penalties          
Income Tax Contingency [Line Items]          
Additional estimated U.S. federal income tax payment 50        
U.S.          
Income Tax Contingency [Line Items]          
NOL carryforwards 10 10      
Non U.S.          
Income Tax Contingency [Line Items]          
NOL carryforwards 1,200 1,200      
FTC carryforwards $ 137 $ 137      
Non U.S. | Minimum          
Income Tax Contingency [Line Items]          
FTC carryforward, expiration date   Dec. 31, 2029      
Non U.S. | Maximum          
Income Tax Contingency [Line Items]          
FTC carryforward, expiration date   Dec. 31, 2034      
v3.25.0.1
Income Taxes - Effective Income Tax Rate Reconciliation (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Effective tax rate reconciliation      
U.S. statutory federal income tax rate 21.00% 21.00% 21.00%
(Decrease) increase in taxes resulting from:      
Tax credits and tax-exempt income (0.70%) (0.70%) (0.90%)
State and local income taxes, net of federal benefit 2.50% 2.40% 3.10%
Non-U.S. subsidiaries’ earnings (1.00%) (0.80%) (0.10%)
Tax settlements and lapse of statute of limitations (0.50%) (2.00%) (2.10%)
Valuation allowances 0.00% 0.10% (0.10%)
Other 0.20% 0.30% 0.70%
Actual tax rates 21.50% 20.30% 21.60%
v3.25.0.1
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:    
Reserves not yet deducted for tax purposes $ 4,950 $ 4,552
Employee compensation and benefits 343 335
Net operating loss and tax credit carryforwards 464 466
Capitalized developed software 1,084 743
Other 853 723
Gross deferred tax assets 7,694 6,819
Valuation allowance (655) (614)
Deferred tax assets after valuation allowance 7,039 6,205
Deferred tax liabilities:    
Intangibles and fixed assets 673 683
Deferred revenue 0 62
Deferred interest 113 114
Other 579 566
Gross deferred tax liabilities 1,365 1,425
Net deferred tax assets $ 5,674 $ 4,780
v3.25.0.1
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]      
Balance, January 1 $ 875 $ 962 $ 1,024
Increases:      
Current year tax positions 161 132 119
Tax positions related to prior years 47 40 30
Decreases:      
Tax positions related to prior years (4) (50) (30)
Settlements with tax authorities (39) (160) (74)
Lapse of statute of limitations (21) (49) (104)
Effects of foreign currency translations (13) 0 (3)
Balance, December 31 $ 1,006 $ 875 $ 962
v3.25.0.1
Earnings Per Common Share (EPS) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Basic and diluted:      
Net income $ 10,129 $ 8,374 $ 7,514
Preferred dividends (58) (58) (57)
Net income available to common shareholders 10,071 8,316 7,457
Earnings allocated to participating share awards (76) (64) (57)
Net income attributable to common shareholders $ 9,995 $ 8,252 $ 7,400
Denominator:      
Basic: Weighted-average common stock (in shares) 712,000 735,000 751,000
Add: Weighted-average stock options (in shares) 1,000 1,000 1,000
Diluted (in shares) 713,000 736,000 752,000
Basic EPS (in dollars per share) [1] $ 14.04 $ 11.23 $ 9.86
Diluted EPS (in dollars per share) [1] $ 14.01 $ 11.21 $ 9.85
Stock Option      
Denominator:      
Antidilutive securities excluded from computation of earnings per share (in shares) 50 1,380 390
[1] Represents net income less (i) earnings allocated to participating share awards of $76 million, $64 million and $57 million for the years ended December 31, 2024, 2023 and 2022, respectively, and (ii) dividends on preferred shares of $58 million, $58 million and $57 million for the years ended December 31, 2024, 2023 and 2022, respectively.
v3.25.0.1
Regulatory Matters and Capital Adequacy (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Regulatory Matters And Capital Adequacy    
Common Equity Tier 1 required, Minimum capital ratio 0.045  
Risk-based capital required, Well-capitalized ratios, Minimum capital ratios 0.060  
Minimum capital ratios 0.080  
Leverage capital required, Minimum capital ratios 0.040  
Supplementary leverage ratio, Well-capitalized, minimum 0.03  
Parent Company | American Express Company    
Regulatory capital ratios    
CET1 capital $ 24,860 $ 23,174
Tier 1 capital 26,405 24,779
Total capital $ 31,127 $ 28,784
CET1 capital ratio 0.105 0.105
Tier 1 capital ratio 0.112 0.113
Total capital ratio 0.132 0.131
Tier 1 leverage ratio 0.098 0.099
Supplementary Leverage Ratio 0.083  
Regulatory Matters And Capital Adequacy    
Common Equity Tier 1 required, Minimum capital ratio 0.070  
Risk-based capital required, Well-capitalized ratios, Well-capitalized ratios 0.060  
Risk-based capital required, Well-capitalized ratios, Minimum capital ratios, including buffer 0.085  
Well-capitalized ratios 0.100  
Minimum capital ratios 0.105  
Leverage capital required, Minimum capital ratios 0.040  
Supplementary leverage ratio, Well-capitalized, minimum 0.030  
Subsidiaries | American Express National Bank    
Regulatory capital ratios    
CET1 capital $ 18,748 $ 17,038
Tier 1 capital 18,748 17,038
Total capital $ 21,289 $ 19,548
CET1 capital ratio 0.116 0.116
Tier 1 capital ratio 0.116 0.116
Total capital ratio 0.132 0.133
Tier 1 leverage ratio 0.096 0.095
Supplementary Leverage Ratio 0.080  
Regulatory Matters And Capital Adequacy    
Common Equity Tier 1 required, Well-capitalized ratios 0.065  
Common Equity Tier 1 required, Minimum capital ratio 0.070  
Risk-based capital required, Well-capitalized ratios, Well-capitalized ratios 0.080  
Risk-based capital required, Well-capitalized ratios, Minimum capital ratios, including buffer 0.085  
Well-capitalized ratios 0.100  
Minimum capital ratios 0.105  
Leverage capital required, Well-capitalized ratios 0.050  
Leverage capital required, Minimum capital ratios 0.040  
Supplementary leverage ratio, Well-capitalized, minimum 0.030  
v3.25.0.1
Regulatory Matters and Capital Adequacy (Details Textual)
$ in Billions
 12 Months Ended
Dec. 31, 2024
USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]  
Restricted net assets of subsidiaries $ 15.3
American Express National Bank  
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]  
Dividends paid from retained earnings to its parent company $ 5.0
v3.25.0.1
Significant Credit Concentrations (Details) - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Maximum Credit Exposure by Category    
Total on-balance sheet $ 255 $ 245
Customer Concentration Risk | Individuals | On-balance sheet assets    
Maximum Credit Exposure by Category    
Total on-balance sheet 194 178
Customer Concentration Risk | Individuals | United States | On-balance sheet assets    
Maximum Credit Exposure by Category    
Total on-balance sheet 160 145
Customer Concentration Risk | Individuals | Outside the United States | On-balance sheet assets    
Maximum Credit Exposure by Category    
Total on-balance sheet 34 33
Customer Concentration Risk | Financial Services | On-balance sheet assets    
Maximum Credit Exposure by Category    
Total on-balance sheet 9 12
Customer Concentration Risk | Other | On-balance sheet assets    
Maximum Credit Exposure by Category    
Total on-balance sheet 17 17
Customer Concentration Risk | Federal Reserve Bank | On-balance sheet assets    
Maximum Credit Exposure by Category    
Total on-balance sheet 35 37
Customer Concentration Risk | U.S. Government and agencies | On-balance sheet assets    
Maximum Credit Exposure by Category    
Total on-balance sheet $ 0 $ 1
v3.25.0.1
Significant Credit Concentrations (Details Textual)
$ in Billions
 12 Months Ended
Dec. 31, 2024
USD ($)
Concentration Risk [Line Items]  
Unused credit available to customers $ 468
Geographic | Commitments to Extend Credit | United States  
Concentration Risk [Line Items]  
Concentration risk percentage 80.00%
v3.25.0.1
Reportable Operating Segments and Geographic Operations (Details Textual)
 12 Months Ended
Dec. 31, 2024
segment
Segment Reporting [Abstract]  
Number of reportable segments 4
Number of operating segments 4
v3.25.0.1
Reportable Operating Segments and Geographic Operations - Selected Financial Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Total non-interest revenues $ 50,406 $ 47,381 $ 42,967
Revenue from contracts with customers 38,825 37,218 34,219
Interest income 23,795 19,983 12,658
Interest expense 8,252 6,849 2,763
Net interest income 15,543 13,134 9,895
Total revenues net of interest expense 65,949 60,515 52,862
Provisions 5,185 4,923 2,182
Total revenues net of interest expense after provisions for credit losses 60,764 55,592 50,680
Card Member rewards, business development and Card Member services 27,267 24,992 21,904
Marketing 6,040 5,213 5,458
Salaries and employee benefits and other operating expenses 14,562 14,874 13,733
Total expenses 47,869 45,079 41,095
Pretax income (loss) 12,895 10,513 9,585
Total assets 271,461 261,108 228,354
Corporate and Other      
Segment Reporting Information [Line Items]      
Total non-interest revenues (48) (106) (54)
Revenue from contracts with customers (32) (37) (7)
Interest income 2,608 2,186 655
Interest expense 2,842 2,283 758
Net interest income (234) (97) (103)
Total revenues net of interest expense (282) (203) (157)
Provisions (1) 1 5
Total revenues net of interest expense after provisions for credit losses (281) (204) (162)
Card Member rewards, business development and Card Member services 43 46 (11)
Marketing 24 20 27
Salaries and employee benefits and other operating expenses 2,068 2,140 2,049
Total expenses 2,135 2,206 2,065
Pretax income (loss) (2,416) (2,410) (2,227)
Total assets 37,673 32,641 25,603
USCS | Operating Segments      
Segment Reporting Information [Line Items]      
Total non-interest revenues 20,137 18,464 16,440
Revenue from contracts with customers 14,481 13,715 12,478
Interest income 14,430 12,336 8,457
Interest expense 3,140 2,684 983
Net interest income 11,290 9,652 7,474
Total revenues net of interest expense 31,427 28,116 23,914
Provisions 3,029 2,855 1,021
Total revenues net of interest expense after provisions for credit losses 28,398 25,261 22,893
Card Member rewards, business development and Card Member services 14,329 12,808 10,791
Marketing 3,051 2,585 2,744
Salaries and employee benefits and other operating expenses 4,641 4,435 3,958
Total expenses 22,021 19,828 17,493
Pretax income (loss) 6,377 5,433 5,400
Total assets 114,228 107,158 94,444
CS | Operating Segments      
Segment Reporting Information [Line Items]      
Total non-interest revenues 13,219 12,931 12,196
Revenue from contracts with customers 11,559 11,379 10,844
Interest income 4,374 3,328 2,070
Interest expense 1,734 1,483 697
Net interest income 2,640 1,845 1,373
Total revenues net of interest expense 15,859 14,776 13,569
Provisions 1,389 1,313 565
Total revenues net of interest expense after provisions for credit losses 14,470 13,463 13,004
Card Member rewards, business development and Card Member services 6,504 6,332 6,116
Marketing 1,319 1,090 1,122
Salaries and employee benefits and other operating expenses 3,142 3,180 2,886
Total expenses 10,965 10,602 10,124
Pretax income (loss) 3,505 2,861 2,880
Total assets 58,969 55,361 51,411
ICS | Operating Segments      
Segment Reporting Information [Line Items]      
Total non-interest revenues 10,369 9,472 8,262
Revenue from contracts with customers 6,766 6,155 5,301
Interest income 2,331 2,076 1,453
Interest expense 1,239 1,118 654
Net interest income 1,092 958 799
Total revenues net of interest expense 11,461 10,430 9,061
Provisions 726 727 584
Total revenues net of interest expense after provisions for credit losses 10,735 9,703 8,477
Card Member rewards, business development and Card Member services 5,243 4,588 3,816
Marketing 1,235 1,081 1,146
Salaries and employee benefits and other operating expenses 3,226 3,061 2,937
Total expenses 9,704 8,730 7,899
Pretax income (loss) 1,031 973 578
Total assets 42,879 42,234 36,891
GMNS | Operating Segments      
Segment Reporting Information [Line Items]      
Total non-interest revenues 6,729 6,620 6,123
Revenue from contracts with customers 6,051 6,006 5,603
Interest income 52 57 23
Interest expense (703) (719) (329)
Net interest income 755 776 352
Total revenues net of interest expense 7,484 7,396 6,475
Provisions 42 27 7
Total revenues net of interest expense after provisions for credit losses 7,442 7,369 6,468
Card Member rewards, business development and Card Member services 1,148 1,218 1,192
Marketing 411 437 419
Salaries and employee benefits and other operating expenses 1,485 2,058 1,903
Total expenses 3,044 3,713 3,514
Pretax income (loss) 4,398 3,656 2,954
Total assets $ 17,712 $ 23,714 $ 20,005
v3.25.0.1
Reportable Operating Segments and Geographic Operations - Geographic Operations (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Revenues And Pretax Income Loss By Geographic Location [Line Items]      
Total revenues net of interest expense $ 65,949 $ 60,515 $ 52,862
Pretax income (loss) from continuing operations 12,895 10,513 9,585
United States      
Segment Revenues And Pretax Income Loss By Geographic Location [Line Items]      
Total revenues net of interest expense 51,471 47,140 41,396
Pretax income (loss) from continuing operations 12,919 10,717 10,383
EMEA      
Segment Revenues And Pretax Income Loss By Geographic Location [Line Items]      
Total revenues net of interest expense 6,216 5,633 4,871
Pretax income (loss) from continuing operations 935 854 550
APAC      
Segment Revenues And Pretax Income Loss By Geographic Location [Line Items]      
Total revenues net of interest expense 4,698 4,372 3,835
Pretax income (loss) from continuing operations 656 592 376
LACC      
Segment Revenues And Pretax Income Loss By Geographic Location [Line Items]      
Total revenues net of interest expense 3,845 3,571 2,917
Pretax income (loss) from continuing operations 803 760 500
Other Unallocated      
Segment Revenues And Pretax Income Loss By Geographic Location [Line Items]      
Total revenues net of interest expense (281) (201) (157)
Pretax income (loss) from continuing operations $ (2,418) $ (2,410) $ (2,224)
v3.25.0.1
Parent Company - Condensed Statements of Income and Comprehensive Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Non-interest revenues      
Total non-interest revenues $ 50,406 $ 47,381 $ 42,967
Interest income 23,795 19,983 12,658
Interest expense 8,252 6,849 2,763
Total revenues net of interest expense 65,949 60,515 52,862
Expenses      
Salaries and employee benefits 8,198 8,067 7,252
Other 6,364 6,807 6,481
Total expenses 47,869 45,079 41,095
Income tax benefit 2,766 2,139 2,071
Net income 10,129 8,374 7,514
Net unrealized pension and other postretirement benefits, net of tax 25 37 52
Comprehensive income 9,806 8,512 7,249
Parent Company      
Non-interest revenues      
Other 390 407 388
Total non-interest revenues 390 407 388
Interest income 1,858 1,558 614
Interest expense 1,869 1,436 857
Total revenues net of interest expense 379 529 145
Expenses      
Salaries and employee benefits 474 487 408
Other 385 408 372
Total expenses 859 895 780
Loss before income tax and equity in net income of subsidiaries (480) (366) (635)
Income tax benefit (126) (163) (244)
Equity in net income of subsidiaries and affiliates 10,483 8,577 7,905
Net income 10,129 8,374 7,514
Net unrealized pension and other postretirement benefits, net of tax 41 5 10
Other comprehensive income (loss), net (364) 133 (275)
Comprehensive income $ 9,806 $ 8,512 $ 7,249
v3.25.0.1
Parent Company - Condensed Balance Sheets (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Assets        
Other assets $ 21,179 $ 19,114    
Total assets 271,461 261,108 $ 228,354  
Liabilities and Shareholders’ Equity        
Long-term debt 49,715 47,866    
Total liabilities 241,197 233,051    
Shareholders’ Equity        
Total shareholders’ equity 30,264 28,057 $ 24,711 $ 22,177
Total liabilities and shareholders’ equity 271,461 261,108    
Parent Company        
Assets        
Cash and cash equivalents 7,293 9,652    
Equity in net assets of subsidiaries and affiliates 30,165 28,019    
Loans to subsidiaries and affiliates 28,897 25,471    
Due from subsidiaries and affiliates 1,291 1,261    
Other assets 573 349    
Total assets 68,219 64,752    
Liabilities and Shareholders’ Equity        
Accounts payable and other liabilities 2,239 2,188    
Due to subsidiaries and affiliates 404 555    
Long-term debt 35,312 33,952    
Total liabilities 37,955 36,695    
Shareholders’ Equity        
Total shareholders’ equity 30,264 28,057    
Total liabilities and shareholders’ equity $ 68,219 $ 64,752    
v3.25.0.1
Parent Company - Condensed Statements of Cash Flows (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities      
Net income $ 10,129 $ 8,374 $ 7,514
Adjustments to reconcile net income to net cash provided by operating activities:      
Net cash provided by operating activities 14,050 18,559 21,079
Cash Flows from Investing Activities      
Net cash used in investing activities (24,402) (24,433) (33,689)
Cash Flows from Financing Activities      
Proceeds from long-term debt 12,602 15,674 23,230
Payments of long-term debt (10,759) (10,703) (18,906)
Issuance of American Express common shares 100 28 56
Repurchase of American Express common shares and other (6,020) (3,650) (3,502)
Dividends paid (1,999) (1,780) (1,565)
Net cash provided by financing activities 4,436 18,379 24,509
Net (decrease) increase in cash and cash equivalents (5,956) 12,682 11,886
Cash and cash equivalents at beginning of year 46,596 33,914 22,028
Cash and cash equivalents at end of year 40,640 46,596 33,914
Parent Company      
Cash Flows from Operating Activities      
Net income 10,129 8,374 7,514
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity in net income of subsidiaries and affiliates (10,483) (8,577) (7,905)
Dividends received from subsidiaries and affiliates 8,027 5,326 5,549
Other operating activities, primarily with subsidiaries and affiliates 14 360 160
Net cash provided by operating activities 7,687 5,483 5,318
Cash Flows from Investing Activities      
Net increase in loans to subsidiaries and affiliates (3,449) (2,836) (4,850)
Investments in subsidiaries and affiliates (55) 0 (1)
Other investing activities 5 0 0
Net cash used in investing activities (3,499) (2,836) (4,851)
Cash Flows from Financing Activities      
Net decrease in short-term debt from subsidiaries and affiliates 0 0 (136)
Proceeds from long-term debt 8,872 9,969 13,202
Payments of long-term debt (7,500) (5,750) (5,675)
Issuance of American Express common shares 100 28 56
Repurchase of American Express common shares and other (6,020) (3,650) (3,502)
Dividends paid (1,999) (1,780) (1,565)
Net cash provided by financing activities (6,547) (1,183) 2,380
Net (decrease) increase in cash and cash equivalents (2,359) 1,464 2,847
Cash and cash equivalents at beginning of year 9,652 8,188 5,341
Cash and cash equivalents at end of year $ 7,293 $ 9,652 $ 8,188