0000004962--12-312024Q1false1.6671.667000000049622024-01-012024-03-3100000049622024-04-15xbrli:shares0000004962us-gaap:CreditCardMerchantDiscountMember2024-01-012024-03-31iso4217:USD0000004962us-gaap:CreditCardMerchantDiscountMember2023-01-012023-03-310000004962us-gaap:CreditCardMember2024-01-012024-03-310000004962us-gaap:CreditCardMember2023-01-012023-03-310000004962us-gaap:FinancialServiceOtherMember2024-01-012024-03-310000004962us-gaap:FinancialServiceOtherMember2023-01-012023-03-310000004962axp:ProcessedRevenueMember2024-01-012024-03-310000004962axp:ProcessedRevenueMember2023-01-012023-03-3100000049622023-01-012023-03-310000004962axp:CardMemberReceivablesMember2024-01-012024-03-310000004962axp:CardMemberReceivablesMember2023-01-012023-03-310000004962axp:CardmemberLoansMember2024-01-012024-03-310000004962axp:CardmemberLoansMember2023-01-012023-03-310000004962axp:OtherLoansAndOtherReceivablesMember2024-01-012024-03-310000004962axp:OtherLoansAndOtherReceivablesMember2023-01-012023-03-31iso4217:USDxbrli:shares00000049622024-03-3100000049622023-12-310000004962us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-03-310000004962us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-12-310000004962us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberaxp:CardMemberReceivablesMember2024-03-310000004962us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberaxp:CardMemberReceivablesMember2023-12-310000004962axp:CardMemberReceivablesMember2024-03-310000004962axp:CardMemberReceivablesMember2023-12-310000004962us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberaxp:CardmemberLoansMember2024-03-310000004962us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberaxp:CardmemberLoansMember2023-12-310000004962axp:CardmemberLoansMember2024-03-310000004962axp:CardmemberLoansMember2023-12-310000004962axp:OtherLoansMember2024-03-310000004962axp:OtherLoansMember2023-12-3100000049622022-12-3100000049622023-03-310000004962us-gaap:PreferredStockMember2023-12-310000004962us-gaap:CommonStockMember2023-12-310000004962us-gaap:AdditionalPaidInCapitalMember2023-12-310000004962us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310000004962us-gaap:RetainedEarningsMember2023-12-310000004962us-gaap:RetainedEarningsMember2024-01-012024-03-310000004962us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310000004962us-gaap:CommonStockMember2024-01-012024-03-310000004962us-gaap:AdditionalPaidInCapitalMember2024-01-012024-03-310000004962us-gaap:SeriesDPreferredStockMember2024-01-012024-03-310000004962us-gaap:RetainedEarningsMemberus-gaap:SeriesDPreferredStockMember2024-01-012024-03-310000004962us-gaap:PreferredStockMember2024-03-310000004962us-gaap:CommonStockMember2024-03-310000004962us-gaap:AdditionalPaidInCapitalMember2024-03-310000004962us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-310000004962us-gaap:RetainedEarningsMember2024-03-310000004962us-gaap:PreferredStockMember2022-12-310000004962us-gaap:CommonStockMember2022-12-310000004962us-gaap:AdditionalPaidInCapitalMember2022-12-310000004962us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000004962us-gaap:RetainedEarningsMember2022-12-310000004962us-gaap:RetainedEarningsMember2023-01-012023-03-310000004962us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310000004962us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-310000004962us-gaap:SeriesDPreferredStockMember2023-01-012023-03-310000004962us-gaap:RetainedEarningsMemberus-gaap:SeriesDPreferredStockMember2023-01-012023-03-310000004962us-gaap:PreferredStockMember2023-03-310000004962us-gaap:CommonStockMember2023-03-310000004962us-gaap:AdditionalPaidInCapitalMember2023-03-310000004962us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-310000004962us-gaap:RetainedEarningsMember2023-03-310000004962axp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMember2024-03-310000004962axp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMember2023-12-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMember2024-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMember2023-12-310000004962axp:CorporateBorrowerMemberaxp:CardmemberLoansMember2024-03-310000004962axp:CorporateBorrowerMemberaxp:CardmemberLoansMember2023-12-310000004962us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberaxp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMember2024-03-310000004962us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberaxp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMember2023-12-310000004962us-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2024-03-310000004962us-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2023-12-310000004962axp:SmallBusinessBorrowerMemberaxp:CardMemberReceivablesMember2024-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardMemberReceivablesMember2023-12-310000004962axp:CorporateBorrowerMemberaxp:CardMemberReceivablesMember2024-03-310000004962axp:CorporateBorrowerMemberaxp:CardMemberReceivablesMember2023-12-310000004962axp:CorporateBorrowerMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberaxp:CardMemberReceivablesMember2024-03-310000004962axp:CorporateBorrowerMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberaxp:CardMemberReceivablesMember2023-12-310000004962axp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000004962axp:CardmemberLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerBorrowerMember2024-03-310000004962axp:CardmemberLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerBorrowerMember2024-03-310000004962axp:CardmemberLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerBorrowerMember2024-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000004962axp:CorporateBorrowerMemberaxp:CardmemberLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000004962us-gaap:ConsumerBorrowerMemberus-gaap:FinancialAssetNotPastDueMemberaxp:CardMemberReceivablesMember2024-03-310000004962us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2024-03-310000004962us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2024-03-310000004962us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2024-03-310000004962axp:SmallBusinessBorrowerMemberus-gaap:FinancialAssetNotPastDueMemberaxp:CardMemberReceivablesMember2024-03-310000004962axp:SmallBusinessBorrowerMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberaxp:CardMemberReceivablesMember2024-03-310000004962axp:SmallBusinessBorrowerMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberaxp:CardMemberReceivablesMember2024-03-310000004962axp:SmallBusinessBorrowerMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberaxp:CardMemberReceivablesMember2024-03-310000004962axp:CorporateBorrowerMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberaxp:CardMemberReceivablesMember2024-03-310000004962axp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000004962axp:CardmemberLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerBorrowerMember2023-12-310000004962axp:CardmemberLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerBorrowerMember2023-12-310000004962axp:CardmemberLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerBorrowerMember2023-12-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000004962axp:CorporateBorrowerMemberaxp:CardmemberLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000004962us-gaap:ConsumerBorrowerMemberus-gaap:FinancialAssetNotPastDueMemberaxp:CardMemberReceivablesMember2023-12-310000004962us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2023-12-310000004962us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2023-12-310000004962us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2023-12-310000004962axp:SmallBusinessBorrowerMemberus-gaap:FinancialAssetNotPastDueMemberaxp:CardMemberReceivablesMember2023-12-310000004962axp:SmallBusinessBorrowerMemberus-gaap:FinancingReceivables30To59DaysPastDueMemberaxp:CardMemberReceivablesMember2023-12-310000004962axp:SmallBusinessBorrowerMemberus-gaap:FinancingReceivables60To89DaysPastDueMemberaxp:CardMemberReceivablesMember2023-12-310000004962axp:SmallBusinessBorrowerMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberaxp:CardMemberReceivablesMember2023-12-310000004962axp:CorporateBorrowerMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberaxp:CardMemberReceivablesMember2023-12-310000004962axp:NetwriteoffrateprincipalMemberaxp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMember2024-01-012024-03-31xbrli:pure0000004962axp:CardmemberLoansMemberaxp:NetwriteoffrateprincipalinterestfeesMemberus-gaap:ConsumerBorrowerMember2024-01-012024-03-310000004962axp:NetwriteoffrateprincipalMemberaxp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMember2023-01-012023-03-310000004962axp:CardmemberLoansMemberaxp:NetwriteoffrateprincipalinterestfeesMemberus-gaap:ConsumerBorrowerMember2023-01-012023-03-310000004962axp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMember2023-03-310000004962axp:NetwriteoffrateprincipalMemberaxp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMember2024-01-012024-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMemberaxp:NetwriteoffrateprincipalinterestfeesMember2024-01-012024-03-310000004962axp:NetwriteoffrateprincipalMemberaxp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMember2023-01-012023-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMemberaxp:NetwriteoffrateprincipalinterestfeesMember2023-01-012023-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMember2023-03-310000004962axp:NetwriteoffrateprincipalMemberus-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2024-01-012024-03-310000004962axp:NetwriteoffrateprincipalinterestfeesMemberus-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2024-01-012024-03-310000004962axp:NetwriteoffrateprincipalMemberus-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2023-01-012023-03-310000004962axp:NetwriteoffrateprincipalinterestfeesMemberus-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2023-01-012023-03-310000004962us-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2023-03-310000004962axp:NetwriteoffrateprincipalMemberaxp:SmallBusinessBorrowerMemberaxp:CardMemberReceivablesMember2024-01-012024-03-310000004962axp:SmallBusinessBorrowerMemberaxp:NetwriteoffrateprincipalinterestfeesMemberaxp:CardMemberReceivablesMember2024-01-012024-03-310000004962axp:NetwriteoffrateprincipalMemberaxp:SmallBusinessBorrowerMemberaxp:CardMemberReceivablesMember2023-01-012023-03-310000004962axp:SmallBusinessBorrowerMemberaxp:NetwriteoffrateprincipalinterestfeesMemberaxp:CardMemberReceivablesMember2023-01-012023-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardMemberReceivablesMember2023-03-310000004962axp:CorporateBorrowerMemberaxp:NetwriteoffrateprincipalinterestfeesMemberaxp:CardMemberReceivablesMember2024-01-012024-03-310000004962axp:CorporateBorrowerMemberaxp:NetwriteoffrateprincipalinterestfeesMemberaxp:CardMemberReceivablesMember2023-01-012023-03-310000004962us-gaap:ContractualInterestRateReductionMemberaxp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMember2024-01-012024-03-310000004962us-gaap:ContractualInterestRateReductionMemberaxp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMember2023-01-012023-03-310000004962us-gaap:ContractualInterestRateReductionMemberaxp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMember2024-01-012024-03-310000004962us-gaap:ContractualInterestRateReductionMemberaxp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMember2023-01-012023-03-310000004962axp:CorporateBorrowerMemberus-gaap:ContractualInterestRateReductionMemberaxp:CardmemberLoansMember2024-01-012024-03-310000004962axp:CorporateBorrowerMemberus-gaap:ContractualInterestRateReductionMemberaxp:CardmemberLoansMember2023-01-012023-03-310000004962us-gaap:ExtendedMaturityMemberus-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2024-01-012024-03-310000004962us-gaap:ExtendedMaturityMemberus-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2023-01-012023-03-310000004962us-gaap:ExtendedMaturityMemberaxp:SmallBusinessBorrowerMemberaxp:CardMemberReceivablesMember2024-01-012024-03-310000004962us-gaap:ExtendedMaturityMemberaxp:SmallBusinessBorrowerMemberaxp:CardMemberReceivablesMember2023-01-012023-03-310000004962axp:CorporateBorrowerMemberus-gaap:ExtendedMaturityMemberaxp:CardMemberReceivablesMember2024-01-012024-03-310000004962axp:CorporateBorrowerMemberus-gaap:ExtendedMaturityMemberaxp:CardMemberReceivablesMember2023-01-012023-03-310000004962us-gaap:ExtendedMaturityMemberaxp:OtherLoansMember2024-01-012024-03-310000004962us-gaap:ExtendedMaturityMemberaxp:OtherLoansMember2023-01-012023-03-310000004962axp:OtherLoansMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000004962axp:OtherLoansMemberus-gaap:ExtendedMaturityAndInterestRateReductionMember2023-01-012023-03-310000004962us-gaap:ExtendedMaturityAndInterestRateReductionMemberaxp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMember2024-01-012024-03-310000004962axp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMember2024-01-012024-03-310000004962us-gaap:ExtendedMaturityAndInterestRateReductionMemberaxp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMember2024-01-012024-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMember2024-01-012024-03-310000004962axp:CorporateBorrowerMemberus-gaap:ExtendedMaturityAndInterestRateReductionMemberaxp:CardmemberLoansMember2024-01-012024-03-310000004962axp:CorporateBorrowerMemberaxp:CardmemberLoansMember2024-01-012024-03-310000004962us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2024-01-012024-03-310000004962us-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2024-01-012024-03-310000004962us-gaap:ExtendedMaturityAndInterestRateReductionMemberaxp:SmallBusinessBorrowerMemberaxp:CardMemberReceivablesMember2024-01-012024-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardMemberReceivablesMember2024-01-012024-03-310000004962axp:CorporateBorrowerMemberus-gaap:ExtendedMaturityAndInterestRateReductionMemberaxp:CardMemberReceivablesMember2024-01-012024-03-310000004962axp:CorporateBorrowerMemberaxp:CardMemberReceivablesMember2024-01-012024-03-310000004962axp:OtherLoansMemberus-gaap:ContractualInterestRateReductionMember2024-01-012024-03-310000004962axp:OtherLoansMember2024-01-012024-03-310000004962us-gaap:ContractualInterestRateReductionMember2024-01-012024-03-310000004962us-gaap:ExtendedMaturityMember2024-01-012024-03-310000004962us-gaap:ExtendedMaturityAndInterestRateReductionMember2024-01-012024-03-310000004962axp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMemberaxp:FinancialAsset30To89DaysPastDueMember2024-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMemberaxp:FinancialAsset30To89DaysPastDueMember2024-03-310000004962axp:CorporateBorrowerMemberaxp:CardmemberLoansMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000004962axp:CorporateBorrowerMemberaxp:CardmemberLoansMemberaxp:FinancialAsset30To89DaysPastDueMember2024-03-310000004962us-gaap:ConsumerBorrowerMemberaxp:FinancialAsset30To89DaysPastDueMemberaxp:CardMemberReceivablesMember2024-03-310000004962axp:SmallBusinessBorrowerMemberaxp:FinancialAsset30To89DaysPastDueMemberaxp:CardMemberReceivablesMember2024-03-310000004962axp:CorporateBorrowerMemberus-gaap:FinancialAssetNotPastDueMemberaxp:CardMemberReceivablesMember2024-03-310000004962axp:CorporateBorrowerMemberaxp:FinancialAsset30To89DaysPastDueMemberaxp:CardMemberReceivablesMember2024-03-310000004962axp:OtherLoansMemberus-gaap:FinancialAssetNotPastDueMember2024-03-310000004962axp:OtherLoansMemberaxp:FinancialAsset30To89DaysPastDueMember2024-03-310000004962axp:OtherLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000004962us-gaap:FinancialAssetNotPastDueMember2024-03-310000004962axp:FinancialAsset30To89DaysPastDueMember2024-03-310000004962us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310000004962axp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMemberus-gaap:FinancialAssetNotPastDueMember2023-03-310000004962axp:CardmemberLoansMemberus-gaap:ConsumerBorrowerMemberaxp:FinancialAsset30To89DaysPastDueMember2023-03-310000004962axp:CardmemberLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerBorrowerMember2023-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMemberus-gaap:FinancialAssetNotPastDueMember2023-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMemberaxp:FinancialAsset30To89DaysPastDueMember2023-03-310000004962axp:SmallBusinessBorrowerMemberaxp:CardmemberLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-03-310000004962axp:CorporateBorrowerMemberaxp:CardmemberLoansMemberus-gaap:FinancialAssetNotPastDueMember2023-03-310000004962axp:CorporateBorrowerMemberaxp:CardmemberLoansMemberaxp:FinancialAsset30To89DaysPastDueMember2023-03-310000004962axp:CorporateBorrowerMemberaxp:CardmemberLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-03-310000004962us-gaap:ConsumerBorrowerMemberus-gaap:FinancialAssetNotPastDueMemberaxp:CardMemberReceivablesMember2023-03-310000004962us-gaap:ConsumerBorrowerMemberaxp:FinancialAsset30To89DaysPastDueMemberaxp:CardMemberReceivablesMember2023-03-310000004962us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerBorrowerMemberaxp:CardMemberReceivablesMember2023-03-310000004962axp:SmallBusinessBorrowerMemberus-gaap:FinancialAssetNotPastDueMemberaxp:CardMemberReceivablesMember2023-03-310000004962axp:SmallBusinessBorrowerMemberaxp:FinancialAsset30To89DaysPastDueMemberaxp:CardMemberReceivablesMember2023-03-310000004962axp:SmallBusinessBorrowerMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberaxp:CardMemberReceivablesMember2023-03-310000004962axp:CorporateBorrowerMemberus-gaap:FinancialAssetNotPastDueMemberaxp:CardMemberReceivablesMember2023-03-310000004962axp:CorporateBorrowerMemberaxp:FinancialAsset30To89DaysPastDueMemberaxp:CardMemberReceivablesMember2023-03-310000004962axp:CorporateBorrowerMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberaxp:CardMemberReceivablesMember2023-03-310000004962axp:OtherLoansMemberus-gaap:FinancialAssetNotPastDueMember2023-03-310000004962axp:OtherLoansMemberaxp:FinancialAsset30To89DaysPastDueMember2023-03-310000004962axp:OtherLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-03-310000004962us-gaap:FinancialAssetNotPastDueMember2023-03-310000004962axp:FinancialAsset30To89DaysPastDueMember2023-03-310000004962us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-03-310000004962axp:PayInFullLoansMember2024-03-310000004962axp:RevolvingLoansMember2024-03-310000004962axp:TermLoansMember2024-03-310000004962axp:FinancingReceivableMeasurementInputPeriodOneMemberaxp:USUnemploymentRateInputMember2024-03-310000004962axp:FinancingReceivableMeasurementInputPeriodOneMembersrt:MinimumMemberaxp:USUnemploymentRateInputMember2023-12-310000004962axp:FinancingReceivableMeasurementInputPeriodOneMembersrt:MaximumMemberaxp:USUnemploymentRateInputMember2023-12-310000004962axp:USGDPGrowthContractionRateInputMemberaxp:FinancingReceivableMeasurementInputPeriodOneMember2024-03-310000004962axp:USGDPGrowthContractionRateInputMemberaxp:FinancingReceivableMeasurementInputPeriodOneMembersrt:MaximumMember2023-12-310000004962axp:USGDPGrowthContractionRateInputMemberaxp:FinancingReceivableMeasurementInputPeriodOneMembersrt:MinimumMember2023-12-310000004962srt:MinimumMemberaxp:USUnemploymentRateInputMemberaxp:FinancingReceivableMeasurementInputPeriodTwoMember2024-03-310000004962srt:MaximumMemberaxp:USUnemploymentRateInputMemberaxp:FinancingReceivableMeasurementInputPeriodTwoMember2024-03-310000004962srt:MinimumMemberaxp:USUnemploymentRateInputMemberaxp:FinancingReceivableMeasurementInputPeriodTwoMember2023-12-310000004962srt:MaximumMemberaxp:USUnemploymentRateInputMemberaxp:FinancingReceivableMeasurementInputPeriodTwoMember2023-12-310000004962axp:USGDPGrowthContractionRateInputMembersrt:MaximumMemberaxp:FinancingReceivableMeasurementInputPeriodTwoMember2024-03-310000004962axp:USGDPGrowthContractionRateInputMembersrt:MinimumMemberaxp:FinancingReceivableMeasurementInputPeriodTwoMember2024-03-310000004962axp:USGDPGrowthContractionRateInputMembersrt:MaximumMemberaxp:FinancingReceivableMeasurementInputPeriodTwoMember2023-12-310000004962axp:USGDPGrowthContractionRateInputMembersrt:MinimumMemberaxp:FinancingReceivableMeasurementInputPeriodTwoMember2023-12-310000004962axp:FinancingReceivableMeasurementInputPeriodThreeMembersrt:MinimumMemberaxp:USUnemploymentRateInputMember2024-03-310000004962axp:FinancingReceivableMeasurementInputPeriodThreeMembersrt:MaximumMemberaxp:USUnemploymentRateInputMember2024-03-310000004962axp:FinancingReceivableMeasurementInputPeriodThreeMembersrt:MinimumMemberaxp:USUnemploymentRateInputMember2023-12-310000004962axp:FinancingReceivableMeasurementInputPeriodThreeMembersrt:MaximumMemberaxp:USUnemploymentRateInputMember2023-12-310000004962axp:USGDPGrowthContractionRateInputMemberaxp:FinancingReceivableMeasurementInputPeriodThreeMembersrt:MaximumMember2024-03-310000004962axp:USGDPGrowthContractionRateInputMemberaxp:FinancingReceivableMeasurementInputPeriodThreeMembersrt:MinimumMember2024-03-310000004962axp:USGDPGrowthContractionRateInputMemberaxp:FinancingReceivableMeasurementInputPeriodThreeMember2023-12-310000004962srt:MinimumMemberaxp:USUnemploymentRateInputMemberaxp:FinancingReceivableMeasurementInputPeriodFourMember2024-03-310000004962srt:MaximumMemberaxp:USUnemploymentRateInputMemberaxp:FinancingReceivableMeasurementInputPeriodFourMember2024-03-310000004962srt:MinimumMemberaxp:USUnemploymentRateInputMemberaxp:FinancingReceivableMeasurementInputPeriodFourMember2023-12-310000004962srt:MaximumMemberaxp:USUnemploymentRateInputMemberaxp:FinancingReceivableMeasurementInputPeriodFourMember2023-12-310000004962axp:USGDPGrowthContractionRateInputMembersrt:MaximumMemberaxp:FinancingReceivableMeasurementInputPeriodFourMember2024-03-310000004962axp:USGDPGrowthContractionRateInputMembersrt:MinimumMemberaxp:FinancingReceivableMeasurementInputPeriodFourMember2024-03-310000004962axp:USGDPGrowthContractionRateInputMembersrt:MaximumMemberaxp:FinancingReceivableMeasurementInputPeriodFourMember2023-12-310000004962axp:USGDPGrowthContractionRateInputMembersrt:MinimumMemberaxp:FinancingReceivableMeasurementInputPeriodFourMember2023-12-310000004962axp:CardmemberLoansMember2022-12-310000004962axp:ProvisionsForFinancingReceivableDeductionsNetWriteOffsPrincipalMemberaxp:CardmemberLoansMember2024-01-012024-03-310000004962axp:ProvisionsForFinancingReceivableDeductionsNetWriteOffsPrincipalMemberaxp:CardmemberLoansMember2023-01-012023-03-310000004962axp:CardmemberLoansMemberaxp:ProvisionsForFinancingReceivableDeductionsNetWriteOffsInterestAndFeesMember2024-01-012024-03-310000004962axp:CardmemberLoansMemberaxp:ProvisionsForFinancingReceivableDeductionsNetWriteOffsInterestAndFeesMember2023-01-012023-03-310000004962axp:CardmemberLoansMember2023-03-310000004962axp:CardMemberReceivablesMember2022-12-310000004962axp:CardMemberReceivablesMember2023-03-310000004962us-gaap:USStatesAndPoliticalSubdivisionsMember2024-03-310000004962us-gaap:USStatesAndPoliticalSubdivisionsMember2024-01-012024-03-310000004962us-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000004962us-gaap:USStatesAndPoliticalSubdivisionsMember2023-01-012023-12-310000004962us-gaap:USGovernmentAgenciesDebtSecuritiesMember2024-03-310000004962us-gaap:USGovernmentAgenciesDebtSecuritiesMember2024-01-012024-03-310000004962us-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-12-310000004962us-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-01-012023-12-310000004962us-gaap:USTreasurySecuritiesMember2024-03-310000004962us-gaap:USTreasurySecuritiesMember2024-01-012024-03-310000004962us-gaap:USTreasurySecuritiesMember2023-12-310000004962us-gaap:USTreasurySecuritiesMember2023-01-012023-12-310000004962us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2024-03-310000004962us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2024-01-012024-03-310000004962us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2023-12-310000004962us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2023-01-012023-12-310000004962us-gaap:ForeignGovernmentDebtSecuritiesMember2024-03-310000004962us-gaap:ForeignGovernmentDebtSecuritiesMember2024-01-012024-03-310000004962us-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310000004962us-gaap:ForeignGovernmentDebtSecuritiesMember2023-01-012023-12-310000004962axp:DebtSecuritiesOtherMember2024-03-310000004962axp:DebtSecuritiesOtherMember2024-01-012024-03-310000004962axp:DebtSecuritiesOtherMember2023-12-310000004962axp:DebtSecuritiesOtherMember2023-01-012023-12-3100000049622023-01-012023-12-310000004962axp:RatioOfFairValueToAmortizedCostBetweenNinetyAndOneHundredPercentMember2024-03-31axp:security0000004962axp:RatioOfFairValueToAmortizedCostLessThanNinetyPercentMember2024-03-310000004962axp:RatioOfFairValueToAmortizedCostBetweenNinetyAndOneHundredPercentMember2023-12-310000004962axp:RatioOfFairValueToAmortizedCostLessThanNinetyPercentMember2023-12-310000004962axp:AmericanExpressLendingTrustMember2024-03-310000004962axp:AmericanExpressLendingTrustMember2023-12-310000004962axp:AmericanExpressChargeTrustMember2024-03-310000004962axp:AmericanExpressChargeTrustMember2023-12-310000004962axp:CardMemberCreditBalancesMember2024-03-310000004962axp:CardMemberCreditBalancesMember2023-12-310000004962axp:ViolationOfFederalAntitrustLawAndConsumerLawsClassActionCaseMemberaxp:HoldersOfVisaAndMasterCardDebitCardsMember2024-03-31axp:state0000004962axp:HoldersOfVisaMasterCardAndDiscoverCreditCardsWithNoRewardsOrAnnualFeeMemberaxp:ViolationOfFederalAntitrustLawAndConsumerLawsClassActionCaseMember2024-03-310000004962srt:MinimumMember2024-03-310000004962srt:MaximumMember2024-03-310000004962axp:CreditValuationAdjustmentMember2023-12-310000004962axp:CreditValuationAdjustmentMember2024-03-310000004962us-gaap:InterestRateContractMemberus-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-03-310000004962us-gaap:InterestRateContractMemberus-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310000004962us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-03-310000004962us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310000004962us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2024-03-310000004962us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2023-12-310000004962us-gaap:OtherLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2024-03-310000004962us-gaap:OtherLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2023-12-310000004962us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-03-310000004962us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310000004962us-gaap:OtherLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-03-310000004962us-gaap:OtherLiabilitiesMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310000004962us-gaap:OtherAssetsMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2024-03-310000004962us-gaap:OtherAssetsMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2023-12-310000004962us-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2024-03-310000004962us-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2023-12-310000004962axp:FixedRateDebtObligationsMemberus-gaap:FairValueHedgingMember2024-03-310000004962axp:FixedRateDebtObligationsMemberus-gaap:FairValueHedgingMember2023-12-310000004962us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMember2024-01-012024-03-310000004962us-gaap:InterestRateContractMemberus-gaap:FairValueHedgingMember2023-01-012023-03-310000004962us-gaap:NetInvestmentHedgingMember2024-03-310000004962us-gaap:NetInvestmentHedgingMember2023-12-310000004962us-gaap:NetInvestmentHedgingMember2024-01-012024-03-310000004962us-gaap:NetInvestmentHedgingMember2023-01-012023-03-310000004962us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2024-03-310000004962us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2023-12-310000004962us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:OtherExpenseMember2024-01-012024-03-310000004962us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:OtherExpenseMember2023-01-012023-03-310000004962us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMember2023-12-310000004962us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMember2024-03-310000004962us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberaxp:NoninterestIncomeMember2024-01-012024-03-310000004962us-gaap:EmbeddedDerivativeFinancialInstrumentsMemberus-gaap:NondesignatedMemberaxp:NoninterestIncomeMember2023-01-012023-03-310000004962us-gaap:FairValueInputsLevel1Member2024-03-310000004962us-gaap:FairValueInputsLevel2Member2024-03-310000004962us-gaap:FairValueInputsLevel3Member2024-03-310000004962us-gaap:FairValueInputsLevel1Member2023-12-310000004962us-gaap:FairValueInputsLevel2Member2023-12-310000004962us-gaap:FairValueInputsLevel3Member2023-12-310000004962us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-03-310000004962us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000004962us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310000004962us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2024-03-310000004962us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2024-03-310000004962us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2024-03-310000004962us-gaap:FairValueInputsLevel1Memberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2024-03-310000004962us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2024-03-310000004962us-gaap:FairValueInputsLevel3Memberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2024-03-310000004962us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CertificatesOfDepositMember2024-03-310000004962us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:CertificatesOfDepositMember2024-03-310000004962us-gaap:FairValueInputsLevel1Memberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:CertificatesOfDepositMember2024-03-310000004962us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:CertificatesOfDepositMemberus-gaap:FairValueInputsLevel2Member2024-03-310000004962us-gaap:FairValueInputsLevel3Memberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:CertificatesOfDepositMember2024-03-310000004962us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000004962us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000004962us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000004962us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2023-12-310000004962us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2023-12-310000004962us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2023-12-310000004962us-gaap:FairValueInputsLevel1Memberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2023-12-310000004962us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2023-12-310000004962us-gaap:FairValueInputsLevel3Memberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2023-12-310000004962us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:CertificatesOfDepositMember2023-12-310000004962us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:CertificatesOfDepositMember2023-12-310000004962us-gaap:FairValueInputsLevel1Memberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:CertificatesOfDepositMember2023-12-310000004962us-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:CertificatesOfDepositMemberus-gaap:FairValueInputsLevel2Member2023-12-310000004962us-gaap:FairValueInputsLevel3Memberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMemberus-gaap:CertificatesOfDepositMember2023-12-310000004962us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberaxp:CardMemberReceivablesMember2024-03-310000004962us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberaxp:CardMemberReceivablesMember2023-12-310000004962us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberaxp:CardmemberLoansMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2024-03-310000004962us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberaxp:CardmemberLoansMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2023-12-310000004962us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2024-03-310000004962us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberus-gaap:PortionAtOtherThanFairValueFairValueDisclosureMember2023-12-310000004962us-gaap:FairValueMeasurementsNonrecurringMember2024-03-310000004962us-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000004962us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000004962us-gaap:FairValueMeasurementsNonrecurringMember2024-01-012024-03-310000004962us-gaap:FairValueMeasurementsNonrecurringMember2023-01-012023-03-310000004962us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-12-310000004962us-gaap:AccumulatedTranslationAdjustmentMember2023-12-310000004962us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-12-310000004962us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-01-012024-03-310000004962us-gaap:AccumulatedTranslationAdjustmentMember2024-01-012024-03-310000004962us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-01-012024-03-310000004962us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-03-310000004962us-gaap:AccumulatedTranslationAdjustmentMember2024-03-310000004962us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-03-310000004962us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2022-12-310000004962us-gaap:AccumulatedTranslationAdjustmentMember2022-12-310000004962us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-12-310000004962us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-01-012023-03-310000004962us-gaap:AccumulatedTranslationAdjustmentMember2023-01-012023-03-310000004962us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-01-012023-03-310000004962us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-03-310000004962us-gaap:AccumulatedTranslationAdjustmentMember2023-03-310000004962us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-03-310000004962us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310000004962us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310000004962us-gaap:EmployeeStockOptionMember2024-01-012024-03-310000004962us-gaap:EmployeeStockOptionMember2023-01-012023-03-310000004962us-gaap:OperatingSegmentsMemberaxp:USConsumerServicesSegmentMember2024-01-012024-03-310000004962us-gaap:OperatingSegmentsMemberaxp:CommercialServicesSegmentMember2024-01-012024-03-310000004962axp:InternationalCardServicesSegmentMemberus-gaap:OperatingSegmentsMember2024-01-012024-03-310000004962axp:GlobalMerchantAndNetworkServicesSegmentMemberus-gaap:OperatingSegmentsMember2024-01-012024-03-310000004962axp:CorporateAndEliminationsMember2024-01-012024-03-310000004962us-gaap:OperatingSegmentsMemberaxp:USConsumerServicesSegmentMember2024-03-310000004962us-gaap:OperatingSegmentsMemberaxp:CommercialServicesSegmentMember2024-03-310000004962axp:InternationalCardServicesSegmentMemberus-gaap:OperatingSegmentsMember2024-03-310000004962axp:GlobalMerchantAndNetworkServicesSegmentMemberus-gaap:OperatingSegmentsMember2024-03-310000004962axp:CorporateAndEliminationsMember2024-03-310000004962us-gaap:OperatingSegmentsMemberaxp:USConsumerServicesSegmentMember2023-01-012023-03-310000004962us-gaap:OperatingSegmentsMemberaxp:CommercialServicesSegmentMember2023-01-012023-03-310000004962axp:InternationalCardServicesSegmentMemberus-gaap:OperatingSegmentsMember2023-01-012023-03-310000004962axp:GlobalMerchantAndNetworkServicesSegmentMemberus-gaap:OperatingSegmentsMember2023-01-012023-03-310000004962axp:CorporateAndEliminationsMember2023-01-012023-03-310000004962us-gaap:OperatingSegmentsMemberaxp:USConsumerServicesSegmentMember2023-03-310000004962us-gaap:OperatingSegmentsMemberaxp:CommercialServicesSegmentMember2023-03-310000004962axp:InternationalCardServicesSegmentMemberus-gaap:OperatingSegmentsMember2023-03-310000004962axp:GlobalMerchantAndNetworkServicesSegmentMemberus-gaap:OperatingSegmentsMember2023-03-310000004962axp:CorporateAndEliminationsMember2023-03-31

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES

EXCHANGE ACT OF 1934

For the Transition Period from ____ to ____

Commission file number 1-7657

(Exact name of registrant as specified in its charter)

New York

13-4922250

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

200 Vesey Street, New York, New York

10285

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code                                          (212) 640-2000

None

Former name, former address and former fiscal year, if changed since last report.

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common shares (par value $0.20 per share)			AXP			New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐      No þ

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

Class						Outstanding at April 15, 2024
Common Shares (par value $0.20 per share)						719,303,053			Shares

Throughout this report the terms “American Express,” “we,” “our” or “us,” refer to American Express Company and its subsidiaries on a consolidated basis, unless stated or the context implies otherwise. The use of the term “partner” or “partnering” in this report does not mean or imply a formal legal partnership, and is not meant in any way to alter the terms of American Express’ relationship with any third parties. Refer to the “MD&A― Glossary of Selected Terminology” for the definitions of other key terms used in this report.

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Our principal products and services are credit and charge card products, along with travel and lifestyle related services, offered to consumers and businesses around the world. Our range of products and services includes:

•Credit card, charge card, banking and other payment and financing products

•Merchant acquisition and processing, servicing and settlement, and point-of-sale marketing and information products and services for merchants

•Network services

•Other fee services, including fraud prevention services and the design and operation of customer loyalty programs

•Expense management products and services

•Travel and lifestyle services

Our various products and services are offered globally to diverse customer groups, including consumers, small businesses, mid-sized companies and large corporations. These products and services are offered through various channels, including mobile and online applications, affiliate marketing, customer referral programs, third-party service providers and business partners, direct mail, telephone, in-house sales teams, and direct response advertising.

We compete in the global payments industry with card networks, issuers and acquirers, paper-based transactions (e.g., cash and checks), bank transfer models (e.g., wire transfers and Automated Clearing House (ACH)), as well as evolving and growing alternative mechanisms, systems and products that leverage new technologies, business models and customer relationships to create payment, financing or banking solutions. The payments industry continues to undergo dynamic changes in response to evolving technologies, consumer habits and merchant needs, such as an increased shift to digital payments.

Refer to the “Glossary of Selected Terminology” for the definitions of certain key terms and related information appearing within this Form 10-Q.

Certain of the statements in this Form 10-Q are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Refer to the “Cautionary Note Regarding Forward-Looking Statements” section. We prepare our Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States of America (GAAP). However, certain information included within this Form 10-Q constitutes non-GAAP financial measures. Our calculations of non-GAAP financial measures may differ from the calculations of similarly titled measures by other companies.

American Express is a bank holding company under the Bank Holding Company Act of 1956 and The Board of Governors of the Federal Reserve System (the Federal Reserve) is our primary federal regulator. As such, we are subject to the Federal Reserve’s regulations, policies and minimum capital standards. We are also subject to evolving and extensive government regulation and supervision in jurisdictions around the world.

(a)Represents net income, less (i) earnings allocated to participating share awards of $18 million and $14 million for the three months ended March 31, 2024 and 2023, respectively, and (ii) dividends on preferred shares of $14 million for both the three months ended March 31, 2024 and 2023.

(b)Our common stock trades principally on The New York Stock Exchange under the trading symbol AXP.

(c)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.

(d)A net write-off rate based on principal losses only is not available for corporate receivables due to system constraints.

(e)For corporate receivables, delinquency data is tracked based on days past billing status rather than days past due. Refer to Table 12 for 90+ days past billing metrics for corporate receivables.

(f)Return on average equity (ROE) is calculated by dividing (i) annualized net income for the period by (ii) average shareholders’ equity for the period.

Our results for the first quarter reflect our continued investments in value propositions, marketing, technology capabilities and our brand, which are driving high levels of customer engagement and loyalty. The successful execution of our growth strategy, along with the strength of our premium customer base and differentiated business model, drove net income of $2.4 billion, or $3.33 per share, compared with net income of $1.8 billion, or $2.40 per share, a year ago.

Billed business, the most significant driver of our financial results, increased 6 percent year-over-year (7 percent on an FX-adjusted basis), in line with the overall spend environment we have seen the past few quarters.1 U.S. Consumer Services billed business grew by 8 percent year-over-year, reflecting continued strength in spending trends across all generational cohorts, with the largest portion of this growth coming from our Millennial and Gen-Z Card Members. International Card Services billed business grew by 11 percent year-over-year (13 percent on an FX-adjusted basis), driven by continued growth in spend across all regions and customer types outside the United States.1 Commercial Services billed business grew by 2 percent on a year-over-year basis, reflecting continued modest growth from U.S. small and mid-sized enterprise (SME) Card Members.

Total revenues net of interest expense increased 11 percent year-over-year. The growth in billed business drove a 5 percent increase in Discount revenue, our largest revenue line. Net card fees increased 15 percent year-over-year, reflecting high levels of new card acquisition and Card Member retention, as well as our cycle of product refreshes. Net interest income increased 26 percent versus the prior year, primarily reflecting growth in our revolving loan balances, which has moderated over the last several quarters, as well as continued net yield expansion versus the prior year.

Total loans and Card Member receivables increased 12 percent year-over-year, as our Card Members continue to spend and build balances. Provisions for credit losses increased, primarily driven by higher net write-offs, partially offset by a lower net reserve build in the current year. Net write-off and delinquency rates remained best-in-class, supported by our premium global customer base, our strong focus on risk management and disciplined growth strategy.

Card Member rewards, Card Member services and Business development expenses are generally correlated to volumes or are variable based on usage and collectively increased year-over-year primarily due to growth in billed business and premium card accounts, as well as higher usage of travel-related benefits. The year-over-year growth in these variable customer engagement expenses for the quarter was partially offset by a benefit related to enhancements to the models that estimate future redemptions of Membership Rewards points by U.S. Card Members resulting from our periodic evaluation of our liability estimation process and assumptions. Marketing expense increased 10 percent year-over-year, as we continue to invest in acquiring high spending, high quality customers and other growth initiatives. During the quarter we acquired 3.4 million proprietary new cards. Operating expenses were flat year-over-year, reflecting higher compensation costs to support business growth, offset by net losses on Amex Ventures investments in the prior year. We remain focused on driving marketing and operating expense efficiencies over time, while continuing to invest in our growth strategy.

During the first quarter, we maintained our capital ratios within our current target range of 10 to 11 percent and returned $1.6 billion of capital to our shareholders in the form of share repurchases and common stock dividends. We also increased our quarterly common stock dividend by 17 percent. We plan to continue to return to shareholders the excess capital we generate while managing our CET1 capital ratio within our target range and supporting balance sheet growth. Our robust capital, funding and liquidity positions provide us with significant flexibility to maintain a strong balance sheet.

As previously announced, we signed an agreement to sell fraud prevention solutions provider Accertify Inc., a wholly owned subsidiary we acquired in 2010, the operations of which are reported within the Global Merchant and Network Services segment. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2024. Upon closing, we expect to recognize a sizeable pre-tax gain, which will be recorded as a reduction to Other expense and is expected to be substantially reinvested back into our business.

Our performance continues to give us confidence in our business model and while we recognize the uncertainty of the geopolitical and macroeconomic environment and the evolving regulatory and competitive landscape, we remain committed to executing on our strategy to deliver sustainable and profitable long-term growth.

See “Certain Legislative, Regulatory and Other Developments” and “Risk Factors” for information on certain matters that could have a material adverse effect on our results of operations and financial condition.

1The foreign currency adjusted information assumes a constant exchange rate between the periods being compared for purposes of currency conversion into U.S. dollars (i.e., assumes the foreign exchange rates used to determine results for the current period apply to the corresponding prior year period against which such results are being compared). FX-adjusted revenues is a non-GAAP measure. We believe the presentation of information on a foreign currency adjusted basis is helpful to investors by making it easier to compare our performance in one period to that of another period without the variability caused by fluctuations in currency exchange rates.

The discussions in both “Consolidated Results of Operations” and “Business Segment Results of Operations” provide commentary on the variances for the three months ended March 31, 2024 compared to the same period in the prior year, as presented in the accompanying tables.

Discount revenue increased, primarily driven by an increase in billed business of 6 percent. See Tables 5 and 6 for more details on billed business performance.

Net card fees increased, primarily driven by growth in our premium card portfolios. See Table 5 for more details on proprietary cards-in-force and average fee per card.

Service fees and other revenue increased, primarily driven by increases in travel commissions and fees from our consumer travel business, revenue from the sale of reward points, foreign exchange related revenues associated with Card Member cross-currency spending and merchant service fees, partially offset by a benefit in the prior year related to a portion of the revenue allocated to a joint venture partner as described in Business development expense below.

Processed revenue decreased, primarily driven by a decrease in volumes associated with the decommission of one of our alternative payment solutions as well as a decrease in network partner volumes. See Tables 5 and 6 for more details on processed volume performance.

Interest expense increased, primarily driven by higher interest rates paid on, and growth in, customer deposits.

(a)Refer to the “Glossary of Selected Terminology” for a definition of reserve build (release).

Card Member loans provision for credit losses increased, primarily due to higher net write-offs, partially offset by a lower reserve build in the current period. The reserve build in the current period was primarily driven by an increase in loans outstanding and slightly higher delinquencies. The reserve build in the prior period was primarily driven by higher delinquencies and an increase in loans outstanding.

Card Member receivables provision for credit losses decreased, primarily due to lower net write-offs and a higher reserve release in the current period. The reserve release in the current period was primarily driven by a decrease in receivables outstanding. The reserve release in the prior period was primarily driven by a decrease in receivables outstanding, partially offset by higher delinquencies.

Other provisions for credit losses increased, primarily due to higher net write-offs, partially offset by a lower reserve build in the current period. The reserve builds in both the current and prior periods were primarily driven by increases in non-card loans outstanding in the respective periods.

Card Member rewards expense was relatively flat, driven by an increase in cobrand rewards expense of $137 million, largely offset by a decrease in Membership Rewards and cash back rewards expenses, collectively, of $129 million. The increase in cobrand rewards expense was primarily driven by higher billed business. The decrease in Membership Rewards expense was driven by a $196 million benefit from enhancements to the models that estimate future redemptions of Membership Reward points by U.S. Card Members as well as lower redemption costs, partially offset by higher billed business.

The Membership Rewards Ultimate Redemption Rate (URR) for current program participants was 96 percent (rounded down) at both March 31, 2024 and 2023.

Business development expense was flat, primarily due to increased partner payments driven by higher network volumes and contractual rates, offset by a prior-year charge related to revenue allocated to a joint venture partner.

Salaries and employee benefits expense increased, primarily driven by higher compensation costs, reflecting the continued investment in our colleagues to support business growth.

Other expenses decreased, primarily driven by net losses on Amex Ventures investments in the prior period.

The effective tax rate was 22.5 percent and 16.2 percent for the three months ended March 31, 2024 and 2023, respectively. The increase in the effective tax rate primarily reflected discrete tax benefits in the prior period related to the resolution of certain prior-year tax items.

(a)Average fee per card is computed on an annualized basis based on proprietary Net card fees divided by average proprietary total cards-in-force.

(a)The foreign currency adjusted information assumes a constant exchange rate between the periods being compared for purposes of conversion into U.S. dollars (i.e., assumes the foreign exchange rates used to determine results for the current period apply to the corresponding prior year period against which such results are being compared).

(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)A net write-off rate based on principal losses only is not available for corporate receivables due to system constraints.

(c)For corporate receivables, delinquency data is tracked based on days past billing status rather than days past due. Refer to Table 12 for 90+ days past billing metrics for corporate receivables.

(d)Other includes foreign currency translation adjustments.

(a)Primarily represents interest expense attributable to maintaining our corporate liquidity pool and funding Card Member receivables.

(b)Primarily represents interest income attributable to Other loans, interest-bearing deposits and the fixed income investment portfolios.

(c)Adjusted net interest income and net interest yield on average Card Member loans are non-GAAP measures. Refer to “Glossary of Selected Terminology” for the definitions of these terms. We believe adjusted net interest income is useful to investors because it represents the interest expense and interest income attributable to our Card Member loan portfolio and is a component of net interest yield on average Card Member loans, which provides a measure of profitability of our Card Member loan portfolio. Net interest yield on average Card Member loans reflects adjusted net interest income divided by average Card Member loans, computed on an annualized basis. Net interest income divided by average Card Member loans, computed on an annualized basis, a GAAP measure, includes elements of total interest income and total interest expense that are not attributable to the Card Member loan portfolio, and thus is not representative of net interest yield on average Card Member loans.

Effective as of the second quarter of 2023, our U.S. travel and lifestyle services (TLS) results, which were previously reported within the U.S. Consumer Services (USCS) segment, are now reported within both the USCS and Commercial Services (CS) segments, allocated based on customer usage.

U.S. Consumer Services 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.

Non-interest revenues increased across all revenue categories, primarily driven by higher Discount revenue and Net card fees.

Discount revenue increased 7 percent, primarily driven by an increase in U.S. consumer billed business. See Tables 5, 6 and 10 for more details on billed business performance.

Net card fees increased 16 percent, primarily driven by growth in our premium card portfolios.

Service fees and other revenue increased 8 percent, primarily driven by increases in travel commissions and fees from our consumer travel business and revenue from the sale of reward points, partially offset by the change in the allocation of TLS revenues described above.

Card Member loans provision for credit losses increased, primarily due to higher net write-offs, partially offset by a lower reserve build in the current period. The reserve build in the current period was primarily driven by slightly higher delinquencies. The reserve build in the prior period was primarily driven by higher delinquencies and an increase in loans outstanding.

Card Member receivables provision for credit losses increased, primarily due to higher net write-offs, partially offset by a higher reserve release in the current period. The reserve releases in both the current and prior periods were primarily driven by decreases in receivables outstanding in the respective periods.

Total expenses increased, primarily driven by higher Card Member services, Business development and Operating expenses.

Card Member rewards expense increased, driven by an increase in cobrand rewards expense, partially offset by a decrease in Membership Rewards and cash back rewards expense. The increase in cobrand rewards expense was primarily driven by higher billed business. The decrease in Membership Rewards expense was driven by the above-mentioned benefit from enhancements to the U.S. URR models as well as lower redemption costs, partially offset by higher billed business.

Business development expense increased, primarily due to increased partner payments driven by higher billed business and contractual rates.

(a)Refer to Table 7 footnote (a).

(b)Refer to Table 8 footnote (a).

(c)Refer to Table 8 footnote (b).

(d)Refer to Table 8 footnote (c).

Commercial Services 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.

Non-interest revenues increased, primarily driven by higher Discount revenue, Net card fees and Service fees and other revenue.

Discount revenue increased 1 percent, primarily driven by an increase in commercial billed business. See Tables 5, 6 and 12 for more details on billed business performance.

Net card fees increased 12 percent, primarily driven by growth in our premium card portfolios.

Service fees and other revenue increased 29 percent, largely driven by the change in the allocation of TLS revenues described above.

Card Member loans provision for credit losses increased, primarily due to higher net write-offs, partially offset by a lower reserve build in the current period. The reserve builds in both the current and prior periods were primarily driven by higher delinquencies and increases in loans outstanding in the respective periods.

Card Member receivables provision for credit losses decreased, primarily due to a reserve release in the current period, versus a reserve build in the prior period, and lower net write-offs. The reserve release in the current period was primarily driven by lower delinquencies.