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EXCEL - IDEA: XBRL DOCUMENT - AMERICAN EXPRESS COFinancial_Report.xls
EX-32.2 - EX-32.2 - AMERICAN EXPRESS COd808273dex322.htm
EX-31.2 - EX-31.2 - AMERICAN EXPRESS COd808273dex312.htm
EX-32.1 - EX-32.1 - AMERICAN EXPRESS COd808273dex321.htm
EX-31.1 - EX-31.1 - AMERICAN EXPRESS COd808273dex311.htm
10-Q - 10-Q - AMERICAN EXPRESS COd808273d10q.htm

EXHIBIT 12

AMERICAN EXPRESS COMPANY

COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in Millions)

 

                                                                                               

 

      

 

Nine Months Ended

September 30, 2014

  

  

    Years Ended December 31,
         2013     2012     2011     2010    

2009

Earnings:

              

Pretax income from continuing operations

     $ 6,766      $ 7,888      $ 6,451      $ 6,956      $ 5,964      $      2,841

Interest expense (a)

       1,302        1,958        2,226        2,320        2,423      2,208

Other adjustments (b)

       147        133        117        124        126      129
    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

Total earnings

     $ 8,215      $ 9,979      $ 8,794      $ 9,400      $ 8,513      $      5,178

Fixed charges:

              

Interest expense

     $ 1,302      $ 1,958      $ 2,226      $ 2,320      $ 2,423      $      2,208

Other adjustments (c)

       60        93        102        94        85      121
    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

Total fixed charges

     $ 1,362      $ 2,051      $ 2,328      $ 2,414      $ 2,508      $      2,329

Ratio of earnings to fixed charges

       6.03        4.87        3.78        3.89        3.39      2.22

 

 

  (a)

Included in interest expense is interest expense related to the Card Member lending activities, international banking operations, and charge card and other activities in the Consolidated Statements of Income. Interest expense does not include interest on liabilities recorded under GAAP governing accounting for uncertainty in income taxes. The Company’s policy is to classify such interest in income tax provision in the Consolidated Statements of Income.

 

  (b)

For purposes of the “earnings” computation, “other adjustments” include adding the amortization of capitalized interest, the net loss of affiliates accounted for under the equity method whose debt is not guaranteed by the Company, the noncontrolling interest in the earnings of majority-owned subsidiaries with fixed charges, and the interest component of rental expense, and subtracting undistributed net income of affiliates accounted for under the equity method.

 

  (c)

For purposes of the “fixed charges” computation, “other adjustments” include capitalized interest costs and the interest component of rental expense.