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American Express Co (AXP) SEC Filing 10-K Annual Report for the fiscal year ending Sunday, December 31, 2023

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American Express Co

HISTORY TOOLS
CIK: 4962 Ticker: AXP

EXHIBIT 99.1
NEWS RELEASENEWS RELEASENEWS RELEASENEWS RELEASE
axplogo1.jpg
Media Contacts:
Giovanna Falbo, Giovanna.Falbo@aexp.com, +1.212.640.0327
Andrew R. Johnson, Andrew.R.Johnson@aexp.com, +1.212.640.8610

Investors/Analysts Contacts:
Kartik Ramachandran, Kartik.Ramachandran@aexp.com, +1.212.640.5574
Michelle A. Scianni, Michelle.A.Scianni@aexp.com, +1.212.640.5574


AMERICAN EXPRESS ANNOUNCES RECORD FULL-YEAR 2023 REVENUE OF $60.5 BILLION, UP 14% ON A REPORTED BASIS AND 15% ON AN FX-ADJUSTED BASIS

FULL-YEAR EARNINGS PER SHARE INCREASED 14% TO $11.21

FULL-YEAR 2024 GUIDANCE FOR REVENUE GROWTH OF 9% TO 11% AND EPS OF $12.65 TO $13.15

COMPANY PLANS TO INCREASE QUARTERLY DIVIDEND BY 17% TO $0.70 PER COMMON SHARE

($ in millions, except per share amounts, and where indicated)
Quarters Ended
December 31,		Percentage Inc/(Dec)Years Ended
December 31,		Percentage Inc/(Dec)
2023202220232022
Billed Business (Billions)$379.8$357.46%$1,459.6$1,338.39%
Total Revenues Net of Interest Expense$15,799$14,17611%$60,515$52,86214%
FX-adjusted 1
$14,22511%$52,83315%
Total Provisions for Credit Losses$1,437$1,02740%$4,923$2,182#
Net Income$1,933$1,57223%$8,374$7,51411%
Diluted Earnings Per Common Share 2
$2.62$2.0727%$11.21$9.8514%
Average Diluted Common Shares Outstanding726 746 (3)%736 752 (2)%
 # - Denotes a variance of 100 percent or more.
New York – January 26, 2024
 – American Express Company (NYSE: AXP) today reported full-year net income of $8.4 billion, or $11.21 per share, compared with net income of $7.5 billion, or $9.85 per share, a year ago.
“We delivered record revenues and profits in 2023, building on the momentum we’ve achieved since we announced our growth plan in January 2022,” said Stephen J. Squeri, Chairman and Chief Executive Officer. “We continued to drive strong customer engagement, and demand for our premium products remained robust. We added 12.2 million

1
The following information was filed by American Express Co (AXP) on Friday, January 26, 2024 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Income (Parenthetical)
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (Parenthetical)
Asset Securitizations
Asset Securitizations (Details Textual)
Changes In Accumulated Other Comprehensive Income (Loss)
Changes In Accumulated Other Comprehensive Income (Loss) (Details Textual)
Changes In Accumulated Other Comprehensive Income (Loss) (Details)
Changes In Accumulated Other Comprehensive Income (Loss) (Tables)
Common And Preferred Shares
Common And Preferred Shares (Details Textual)
Common And Preferred Shares (Tables)
Common And Preferred Shares - Common Shares (Details)
Common And Preferred Shares - Preferred Shares (Details)
Contingencies And Commitments
Contingencies And Commitments (Details Textual)
Contingencies And Commitments (Tables)
Contingencies And Commitments - Maturities Of Outstanding Lease Commitments (Details)
Customer Deposits
Customer Deposits (Details Textual)
Customer Deposits (Tables)
Customer Deposits - By Deposit Type (Details)
Customer Deposits - Categorized As Interest Or Non-Interest Bearing (Details)
Customer Deposits - Scheduled Maturities (Details)
Debt
Debt (Details Textual)
Debt (Tables)
Debt - Annual Maturities Of Long-Term Debt Obligations (Details)
Debt - Long-Term Debt (Details)
Debt - Short-Term Borrowings (Details)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (Details Textual)
Derivatives And Hedging Activities (Tables)
Derivatives And Hedging Activities - Derivatives Summary (Details)
Derivatives And Hedging Activities - Gains And Losses (Details)
Earnings Per Common Share (Eps)
Earnings Per Common Share (Eps) (Details)
Earnings Per Common Share (Eps) (Tables)
Fair Values
Fair Values (Details Textual)
Fair Values (Tables)
Fair Values - Measured At Fair Value On A Recurring Basis (Details)
Fair Values - Not Measured At Fair Value On A Recurring Basis (Details)
Guarantees
Guarantees (Details)
Income Taxes
Income Taxes (Details Textual)
Income Taxes (Tables)
Income Taxes - Components Of Income Tax Expense (Details)
Income Taxes - Deferred Tax Assets And Liabilities (Details)
Income Taxes - Effective Income Tax Rate Reconciliation (Details)
Income Taxes - Unrecognized Tax Benefits (Details)
Insider Trading Arrangements
Investment Securities
Investment Securities (Details Textual)
Investment Securities (Tables)
Investment Securities - Contractual Maturities (Details)
Investment Securities - Gross Unrealized Losses (Details)
Investment Securities - Gross Unrealized Losses Ratio To Fair Value (Details)
Investment Securities - Summary (Details)
Loans And Card Member Receivables
Loans And Card Member Receivables (Tables)
Loans And Card Member Receivables - Aging (Details)
Loans And Card Member Receivables - Card Member And Other Loans (Details)
Loans And Card Member Receivables - Card Member Receivables (Details)
Loans And Card Member Receivables - Credit Quality (Details)
Loans And Card Member Receivables - Impaired Loans And Receivables, Prior To Adoption (Details)
Loans And Card Member Receivables - Modifications (Details)
Loans And Card Member Receivables - Modifications That Subsequently Defaulted (Details)
Loans And Card Member Receivables - Modified As Tdr, Prior To Adoption (Details)
Loans And Card Member Receivables - Performance (Details)
Loans And Card Member Receivables - Tdr Subsequently Defaulted, Prior To Adoption (Details)
Other Assets
Other Assets (Details Textual)
Other Assets (Tables)
Other Assets - Goodwill (Details)
Other Assets - Summary (Details)
Other Assets - Tax Credit Investments Expenses And Related Income Tax Credits And Other Tax Benefits (Details)
Other Liabilities
Other Liabilities (Tables)
Other Liabilities - Deferred Card And Other Fees (Details)
Other Liabilities - Summary (Details)
Parent Company
Parent Company (Tables)
Parent Company - Condensed Balance Sheets (Details)
Parent Company - Condensed Statements Of Cash Flows (Details)
Parent Company - Condensed Statements Of Income And Comprehensive Income (Details)
Pay Vs Performance Disclosure
Regulatory Matters And Capital Adequacy
Regulatory Matters And Capital Adequacy (Details Textual)
Regulatory Matters And Capital Adequacy (Details)
Regulatory Matters And Capital Adequacy (Tables)
Reportable Operating Segments And Geographic Operations
Reportable Operating Segments And Geographic Operations (Details Textual)
Reportable Operating Segments And Geographic Operations (Tables)
Reportable Operating Segments And Geographic Operations - Geographic Operations (Details)
Reportable Operating Segments And Geographic Operations - Selected Financial Information (Details)
Reserves For Credit Losses
Reserves For Credit Losses (Details Textual)
Reserves For Credit Losses (Tables)
Reserves For Credit Losses - Change In Receivables Reserve (Details)
Reserves For Credit Losses - Changes In Loan Reserve (Details)
Reserves For Credit Losses - Key Variables (Details)
Restructuring
Restructuring (Details)
Retirement Plans
Retirement Plans (Details)
Service Fees And Other Revenue And Other Expenses
Service Fees And Other Revenue And Other Expenses (Tables)
Service Fees And Other Revenue And Other Expenses - Other Expenses (Details)
Service Fees And Other Revenue And Other Expenses - Service Fees And Other Revenue (Details)
Significant Credit Concentrations
Significant Credit Concentrations (Details Textual)
Significant Credit Concentrations (Details)
Significant Credit Concentrations (Tables)
Stock-Based Compensation
Stock-Based Compensation (Details Textual)
Stock-Based Compensation (Tables)
Stock-Based Compensation - Assumptions Used For Rsus (Details)
Stock-Based Compensation - Assumptions Used For Stock Options (Details)
Stock-Based Compensation - Stock Options And Rsus Outstanding And Changes (Details)
Stock-Based Compensation - Weighted-Average Remaining Contractual Life And Aggregate Intrinsic Value Of Stock Options (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Discount Revenue (Details)
Summary Of Significant Accounting Policies - Goodwill (Details)
Summary Of Significant Accounting Policies - Premises And Equipment (Details)
Ticker: AXP
CIK: 4962
Form Type: 10-K Annual Report
Accession Number: 0000004962-24-000013
Submitted to the SEC: Fri Feb 09 2024 2:08:08 PM EST
Accepted by the SEC: Fri Feb 09 2024
Period: Sunday, December 31, 2023
Industry: Finance Services

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