Attached files
| file | filename |
|---|---|
| 10-Q - AMERICAN EXPRESS CREDIT CORP | c65606_10q.htm |
| EX-31.1 - AMERICAN EXPRESS CREDIT CORP | c65606_ex31-1.htm |
| EX-32.1 - AMERICAN EXPRESS CREDIT CORP | c65606_ex32-1.htm |
| EX-12.2 - AMERICAN EXPRESS CREDIT CORP | c65606_ex12-2.htm |
| EX-32.2 - AMERICAN EXPRESS CREDIT CORP | c65606_ex32-2.htm |
| EX-31.2 - AMERICAN EXPRESS CREDIT CORP | c65606_ex31-2.htm |
EXHIBIT 12.1
AMERICAN EXPRESS CREDIT CORPORATION
COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
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Three Months |
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Years Ended December 31, |
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Ended |
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March 31, 2011 |
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2010 |
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2009 |
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2008 |
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2007 |
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Earnings: |
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Net income |
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$ |
69 |
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$ |
348 |
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$ |
362 |
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$ |
864 |
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$ |
725 |
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Income tax provision (benefit) |
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― |
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(24 |
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8 |
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132 |
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60 |
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Interest expense |
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166 |
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598 |
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629 |
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1,618 |
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2,046 |
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Total earnings (a) |
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$ |
235 |
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$ |
922 |
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$ |
999 |
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$ |
2,614 |
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$ |
2,831 |
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Fixed charges ― Interest expense (b) |
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$ |
166 |
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$ |
598 |
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$ |
629 |
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$ |
1,618 |
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$ |
2,046 |
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Ratio of earnings to fixed charges (a/b) |
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1.42 |
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1.54 |
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1.59 |
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1.62 |
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1.38 |
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Interest expense does not include interest on liabilities recorded in accordance with GAAP governing unrecognized tax benefits. Credco’s policy is to classify such interest in income tax provision in the Consolidated Statements of Income.
E-2