ex99_2.htm

Exhibit 99.2

All information in the following tables is presented on a basis prepared in accordance with U.S. generally accepted accounting principles (GAAP), unless otherwise indicated.

(Preliminary)

American Express Company

Consolidated Statements of Income

(Millions)

	Quarters Ended							Years Ended
	December 31,				Percentage			December 31,					Percentage
	2010		2009		Inc/(Dec)			2010		2009			Inc/(Dec)

Revenues
Non-interest revenues
Discount revenue	$	4,093	$	3,645		12	%	$	15,111	$	13,389			13	%
Net card fees		534		549		(3	)		2,102		2,151			(2	)
Travel commissions and fees		472		439		8			1,779		1,594			12
Other commissions and fees		519		438		18			2,031		1,778			14
Securitization income, net (A)		N/A		190		-			N/A		400			-
Other		514		518		(1	)		1,927		2,087			(8	)
Total non-interest revenues		6,132		5,779		6			22,950		21,399			7
Interest income
Interest and fees on loans		1,676		1,036		62			6,783		4,468			52
Interest and dividends on investment securities		98		225		(56	)		443		804			(45	)
Deposits with banks and other		21		11		91			66		59			12
Total interest income		1,795		1,272		41			7,292		5,331			37
Interest expense
Deposits		140		126		11			546		425			28
Short-term borrowings		1		1		-			3		37			(92	)
Long-term debt and other		464		435		7			1,874		1,745			7
Total interest expense		605		562		8			2,423		2,207			10
Net interest income		1,190		710		68			4,869		3,124			56
Total revenues net of interest expense		7,322		6,489		13			27,819		24,523			13
Provisions for losses
Charge card		183		141		30			595		857			(31	)
Cardmember loans		37		560		(93	)		1,527		4,266			(64	)
Other		19		47		(60	)		85		190			(55	)
Total provisions for losses		239		748		(68	)		2,207		5,313			(58	)
Total revenues net of interest expense after provisions for losses		7,083		5,741		23			25,612		19,210			33

Expenses
Marketing and promotion		810		713		14			3,054		1,914			60
Cardmember rewards		1,344		1,178		14			5,029		4,036			25
Cardmember services		155		143		8			561		517			9
Salaries and employee benefits		1,570		1,196		31			5,566		5,080			10
Professional services		908		715		27			2,806		2,408			17
Occupancy and equipment		428		495		(14	)		1,562		1,619			(4	)
Communications		99		99		-			383		414			(7	)
Other, net		292		241		21			687		381			80
Total		5,606		4,780		17			19,648		16,369			20
Pretax income from continuing operations		1,477		961		54			5,964		2,841			#
Income tax provision		415		251		65			1,907		704			#
Income from continuing operations		1,062		710		50			4,057		2,137			90
Income (Loss) from discontinued operations, net of tax		-		6		-			-		(7	)		-
Net income	$	1,062	$	716		48		$	4,057	$	2,130			90
Income from continuing operations attributable to common shareholders (B)	$	1,050	$	701		50		$	4,006	$	1,809			#
Net income attributable to common shareholders (B)	$	1,050	$	707		49		$	4,006	$	1,802			#

# - Denotes a variance of more than 100%.

(A) In accordance with the new GAAP effective January 1, 2010, the Company no longer reports securitization income, net in its income statement.

(B) Represents income from continuing operations or net income, as applicable, less (i) accelerated preferred dividend accretion of $212 million for the twelve months ended December 31, 2009 due to the repurchase of $3.39 billion of preferred shares issued as part of the Capital Purchase Program (CPP), (ii) preferred shares dividends and related accretion of $94 million for the twelve months ended December 31, 2009, and (iii) earnings allocated to participating share awards and other items of $12 million and $9 million for the three months ended December 31, 2010 and 2009, respectively, and $51 million and $22 million for the twelve months ended December 31, 2010 and 2009, respectively.

(Preliminary)

American Express Company

Condensed Consolidated Balance Sheets

(Billions)

	December 31,		December 31,
	2010		2009

Assets
Cash	$	17	$	17
Accounts receivable		40		38
Investment securities		14		24
Loans		58		30
Other assets		18		16
Total assets	$	147	$	125

Liabilities and Shareholders' Equity
Customer deposits	$	30	$	26
Short-term borrowings		3		2
Long-term debt		66		52
Other liabilities		32		31
Total liabilities		131		111

Shareholders' Equity		16		14
Total liabilities and shareholders' equity	$	147	$	125

(Preliminary)

American Express Company

Financial Summary

(Millions)

	Quarters Ended									Years Ended
	December 31,						Percentage			December 31,						Percentage
	2010			2009			Inc/(Dec)			2010			2009			Inc/(Dec)

Total revenues net of interest expense
U.S. Card Services	$	3,769		$	3,188			18	%	$	14,616		$	12,153			20	%
International Card Services		1,234			1,215			2			4,650			4,529			3
Global Commercial Services		1,152			1,072			7			4,402			3,983			11
Global Network & Merchant Services		1,190			1,031			15			4,373			3,780			16
		7,345			6,506			13			28,041			24,445			15

Corporate & Other, including adjustments and eliminations		(23	)		(17	)		35			(222	)		78			#

CONSOLIDATED TOTAL REVENUES NET OF INTEREST EXPENSE	$	7,322		$	6,489			13		$	27,819		$	24,523			13

Pretax income (loss) from continuing operations
U.S. Card Services	$	1,061		$	646			64		$	3,537		$	586			#
International Card Services		108			40			#			638			276			#
Global Commercial Services		145			141			3			761			505			51
Global Network & Merchant Services		395			322			23			1,649			1,445			14
		1,709			1,149			49			6,585			2,812			#
Corporate & Other		(232	)		(188	)		23			(621	)		29			#

PRETAX INCOME FROM CONTINUING OPERATIONS	$	1,477		$	961			54		$	5,964		$	2,841			#

Net income (loss)
U.S. Card Services	$	701		$	413			70		$	2,246		$	411			#
International Card Services		102			69			48			566			332			70
Global Commercial Services		106			100			6			474			350			35
Global Network & Merchant Services		268			200			34			1,063			937			13
		1,177			782			51			4,349			2,030			#
Corporate & Other		(115	)		(72	)		60			(292	)		107			#
Income from continuing operations		1,062			710			50			4,057			2,137			90
Income (Loss) from discontinued operations, net of tax		-			6			-			-			(7	)		-

NET INCOME	$	1,062		$	716			48		$	4,057		$	2,130			90

# - Denotes a variance of more than 100%.

(Preliminary)

American Express Company

Financial Summary (continued)

	Quarters Ended							Years Ended
	December 31,				Percentage			December 31,					Percentage
	2010		2009		Inc/(Dec)			2010		2009			Inc/(Dec)
EARNINGS PER COMMON SHARE

BASIC
Income from continuing operations attributable to common shareholders	$	0.88	$	0.59		49	%	$	3.37	$	1.55			#	%
Income (Loss) from discontinued operations		-		0.01		-			-		(0.01	)		-
Net income attributable to common shareholders	$	0.88	$	0.60		47	%	$	3.37	$	1.54			#	%

Average common shares outstanding (millions)		1,188		1,179		1	%		1,188		1,168			2	%

DILUTED
Income from continuing operations attributable to common shareholders	$	0.88	$	0.59		49	%	$	3.35	$	1.54			#	%
Income (Loss) from discontinued operations		-		0.01		-			-		-			-
Net income attributable to common shareholders	$	0.88	$	0.60		47	%	$	3.35	$	1.54			#	%

Average common shares outstanding (millions)		1,194		1,184		1	%		1,195		1,171			2	%

Cash dividends declared per common share	$	0.18	$	0.18		-	%	$	0.72	$	0.72			-	%

Selected Statistical Information

	Quarters Ended									Years Ended
	December 31,						Percentage			December 31,						Percentage
		2010			2009		Inc/(Dec)				2010			2009		Inc/(Dec)

Return on average equity (A)		27.5	%		14.6	%					27.5	%		14.6	%
Return on average common equity (A)		27.2	%		13.6	%					27.2	%		13.6	%
Return on average tangible common equity (A)		35.1	%		17.6	%					35.1	%		17.6	%
Common shares outstanding (millions)		1,197			1,192			-	%		1,197			1,192			-	%
Book value per common share	$	13.56		$	12.08			12	%	$	13.56		$	12.08			12	%
Shareholders' equity (billions)	$	16.2		$	14.4			13	%	$	16.2		$	14.4			13	%

# - Denotes a variance of more than 100%.

(A) Refer to Appendix I for components of return on average equity, return on average common equity and return on average tangible common equity.

(Preliminary)

American Express Company

Selected Statistical Information

(Billions, except percentages and where indicated)

	Quarters Ended									Years Ended
	December 31,						Percentage			December 31,						Percentage
	2010			2009			Inc/(Dec)			2010			2009			Inc/(Dec)
Card billed business (A):
United States	$	131.1		$	115.0			14	%	$	479.3		$	423.7			13	%
Outside the United States		66.6			57.6			16			234.0			196.1			19
Total	$	197.7		$	172.6			15		$	713.3		$	619.8			15
Total cards-in-force (millions) (B):
United States		48.9			48.9			-	%		48.9			48.9			-	%
Outside the United States		42.1			39.0			8			42.1			39.0			8
Total		91.0			87.9			4			91.0			87.9			4
Basic cards-in-force (millions) (B):
United States		37.9			38.2			(1	) %		37.9			38.2			(1	) %
Outside the United States		37.4			34.3			9			37.4			34.3			9
Total		75.3			72.5			4			75.3			72.5			4

Average discount rate (C)		2.52	%		2.51	%					2.55	%		2.54	%
Average basic cardmember spending (dollars) (D)	$	3,629		$	3,209			13	%	$	13,259		$	11,213			18	%
Average fee per card (dollars) (D)	$	38		$	39			(3	) %	$	38		$	36			6	%
Average fee per card adjusted (dollars) (D)	$	42		$	42			-	%	$	41		$	40			3	%

(A) Card billed business includes activities (including cash advances) related to proprietary cards, cards issued under network partnership agreements (non-proprietary billed business), and certain insurance fees charged on proprietary cards. In-store spend activity within retail co-brand portfolios in Global Network Services, from which the Company earns no revenue, is not included in non-proprietary billed business. Card billed business is reflected in the United States or outside the United States based on where the cardmember is domiciled.

(B) Total cards-in-force represents the number of cards that are issued and outstanding. Proprietary basic consumer cards-in-force includes basic cards issued to the primary account owner and does not include additional supplemental cards issued on that account. Proprietary basic small business and corporate cards-in-force include basic and supplemental cards issued to employee cardmembers. Non-proprietary cards-in-force includes all cards that are issued and outstanding under network partnership agreements, except for retail co-brand cardmember accounts which have no out-of-store spend activity during the prior 12 month period.

(C) This calculation is designed to reflect pricing at merchants accepting general purpose American Express cards. It represents the percentage of billed business (both proprietary and Global Network Services) retained by the Company from merchants it acquires, prior to payments to third parties unrelated to merchant acceptance.

(D) Average basic cardmember spending and average fee per card are computed from proprietary card activities only. Average fee per card is computed based on net card fees, including the amortization of deferred direct acquisition costs, plus card fees included in interest and fees on loans (including related amortization of deferred direct acquisition costs), divided by average worldwide proprietary cards-in-force. The card fees related to cardmember loans included in interest and fees on loans were $63 million and $54 million for the quarters ended December 31, 2010 and 2009, respectively, and $220 million and $186 million for the years ended December 31, 2010 and 2009, respectively. The adjusted average fee per card is computed in the same manner, but excludes amortization of deferred direct acquisition costs (a portion of which is charge card related and included in net card fees and a portion of which is lending related and included in interest and fees on loans). The amount of amortization excluded was $51 million and $54 million for the quarters ended December 31, 2010 and 2009, respectively, and $207 million and $243 million for the years ended December 31, 2010 and 2009, respectively. The Company presents adjusted average fee per card because management believes that this metric presents a useful indicator of card fee pricing across a range of its proprietary card products.

(Preliminary)

American Express Company

Selected Statistical Information (continued)

(Billions, except percentages and where indicated)

	Quarters Ended									Years Ended
	December 31,						Percentage			December 31,						Percentage
	2010			2009			Inc/(Dec)			2010			2009			Inc/(Dec)
Worldwide cardmember receivables:
Total receivables	$	37.3		$	33.7			11	%	$	37.3		$	33.7			11	%
Loss reserves (millions):
Beginning balance	$	364		$	599			(39	) %	$	546		$	810			(33	) %
Provisions for losses on authorized transactions (A)		147			116			27			439			773			(43	)
Net write-offs		(117	)		(194	)		(40	)		(598	)		(1,131	)		(47	)
Other		(8	)		25			#			(1	)		94			#
Ending balance	$	386		$	546			(29	)	$	386		$	546			(29	)
% of receivables		1.0	%		1.6	%					1.0	%		1.6	%
Net write-off rate - USCS		1.4	%		1.9	%					1.6	%		3.8	%
30 days past due as a % of total - USCS		1.5	%		1.8	%					1.5	%		1.8	%
Net loss ratio (as a % of charge volume) - ICS/GCS		0.09	%		0.22	%					0.16	%		0.25	%
90 days past billing as a % of total - ICS/GCS		0.9	%		1.6	%					0.9	%		1.6	%

Worldwide cardmember loans - (GAAP basis portfolio) (B):
Total loans	$	60.9		$	32.8			86	%	$	60.9		$	32.8			86	%
30 days past due loans as a % of total		2.1	%		3.6	%					2.1	%		3.6	%
Loss reserves (millions):
Beginning balance	$	4,318		$	3,359			29	%	$	3,268		$	2,570			27	%
Adoption of new GAAP consolidation standard		N/A			N/A					$	2,531			N/A
Provisions for losses on authorized transactions		16			544			(97	)		1,445			4,209			(66	)
Net write-offs - principal		(630	)		(589	)		7			(3,260	)		(2,949	)		11
Net write-offs - interest and fees		(72	)		(72	)		-			(359	)		(448	)		(20	)
Other		14			26			(46	)		21			(114	)		#
Ending balance	$	3,646		$	3,268			12		$	3,646		$	3,268			12
Ending Reserves - principal	$	3,551		$	3,172			12		$	3,551		$	3,172			12
Ending Reserves - interest and fees	$	95		$	96			(1	)	$	95		$	96			(1	)
% of loans		6.0	%		10.0	%					6.0	%		10.0	%
% of past due		287	%		279	%					287	%		279	%
Average loans	$	58.5		$	31.8			84	%	$	58.4		$	34.8			68	%
Net write-off rate		4.3	%		7.4	%					5.6	%		8.5	%
Net interest income divided by average loans (C) (D)		8.1	%		8.9	%					8.3	%		9.0	%
Net interest yield on cardmember loans (C)		9.3	%		10.0	%					9.7	%		10.1	%

Worldwide cardmember loans - (managed basis portfolio) (E):
Total loans	$	60.9		$	61.8			(1	) %	$	60.9		$	61.8			(1	) %
30 days past due loans as a % of total		2.1	%		3.6	%					2.1	%		3.6	%
Net write-offs - principal (millions)	$	630		$	1,106			(43	)	$	3,260		$	5,366			(39	)
Average loans	$	58.5		$	60.9			(4	) %	$	58.4		$	63.8			(8	) %
Net write-off rate		4.3	%		7.3	%					5.6	%		8.4	%
Net interest yield on cardmember loans (C)		9.3	%		10.3	%					9.7	%		10.4	%

# - Denotes a variance of more than 100%.

(A) Represents loss provisions for cardmember receivables consisting of principal (resulting from authorized transactions) and fee reserve components. Adjustments to cardmember receivables resulting from unauthorized transactions have been reclassified from this line to "Other" for all periods presented.

(B) For periods ended on or prior to December 31, 2009, the Company’s cardmember loans and related debt performance information on a GAAP basis was referred to as the "owned" basis presentation. The information presented on a GAAP basis for the quarter ended December 31, 2009 includes only non-securitized cardmember loans that were included in the Company’s balance sheet. Effective January 1, 2010, the Company’s securitized portfolio of cardmember loans and related debt is also consolidated on its balance sheet upon the adoption of GAAP governing the accounting for transfers of financial assets and consolidation of variable interest entities (the “new GAAP”). Accordingly, beginning January 1, 2010, the GAAP basis presentation includes both securitized and non-securitized cardmember loans. Refer to page 18 for a discussion of GAAP basis information.

(C) See Appendix III for calculations of net interest yield on cardmember loans, a non-GAAP measure and net interest income divided by average loans, a GAAP measure. Management believes net interest yield on cardmember loans is useful to investors because it provides a measure of profitability of the Company’s cardmember loans portfolio.

(D) This calculation includes elements of total interest income and total interest expense that are not attributable to the cardmember loan portfolio, and thus is not representative of net interest yield on cardmember loans. The calculation includes interest income and interest expense attributable to investment securities and other interest-bearing deposits as well as to cardmember loans, and interest expense attributable to other activities, including cardmember receivables.

(E) For periods ended on or prior to December 31, 2009, information presented is based on the Company’s historical non-GAAP, or “managed” basis presentation. Unlike the GAAP basis presentation, the information presented on a managed basis in such periods includes both the securitized and non-securitized cardmember loans. The adoption of new GAAP on January 1, 2010 resulted in accounting for both the Company's securitized and non-securitized cardmember loans in the consolidated financial statements. As a result, the Company's 2010 GAAP presentations and managed basis presentations prior to 2010 are generally comparable. Refer to page 18 for a discussion of managed basis information.

(Preliminary)

American Express Company

Consolidated Statements of Income

(Millions)

	Quarters Ended
	December 31,		September 30,		June 30,		March 31,		December 31,
	2010		2010		2010		2010		2009

Revenues
Non-interest revenues
Discount revenue	$	4,093	$	3,818	$	3,734	$	3,466	$	3,645
Net card fees		534		527		520		521		549
Travel commissions and fees		472		487		434		386		439
Other commissions and fees		519		515		497		500		438
Securitization income, net (A)		N/A		N/A		N/A		N/A		190
Other		514		502		485		426		518
Total non-interest revenues		6,132		5,849		5,670		5,299		5,779
Interest income
Interest and fees on loans		1,676		1,675		1,657		1,775		1,036
Interest and dividends on investment securities		98		103		125		117		225
Deposits with banks and other		21		16		16		13		11
Total interest income		1,795		1,794		1,798		1,905		1,272
Interest expense
Deposits		140		141		137		128		126
Short-term borrowings		1		-		1		1		1
Long-term debt and other		464		469		472		469		435
Total interest expense		605		610		610		598		562
Net interest income		1,190		1,184		1,188		1,307		710
Total revenues net of interest expense		7,322		7,033		6,858		6,606		6,489
Provisions for losses
Charge card		183		89		96		227		141
Cardmember loans		37		262		540		688		560
Other		19		22		16		28		47
Total provisions for losses		239		373		652		943		748
Total revenues net of interest expense after provision for losses		7,083		6,660		6,206		5,663		5,741

Expenses
Marketing and promotion		810		847		802		595		713
Cardmember rewards		1,344		1,269		1,198		1,218		1,178
Cardmember services		155		135		122		149		143
Salaries and employee benefits		1,570		1,354		1,315		1,327		1,196
Professional services		908		701		636		561		715
Occupancy and equipment		428		371		379		384		495
Communications		99		92		97		95		99
Other, net		292		251		62		82		241
Total		5,606		5,020		4,611		4,411		4,780
Pretax income from continuing operations		1,477		1,640		1,595		1,252		961
Income tax provision		415		547		578		367		251
Income from continuing operations		1,062		1,093		1,017		885		710
Income from discontinued operations, net of tax		-		-		-		-		6
Net income	$	1,062	$	1,093	$	1,017	$	885	$	716
Income from continuing operations attributable to common shareholders (B)	$	1,050	$	1,080	$	1,004	$	873	$	701
Net income attributable to common shareholders (B)	$	1,050	$	1,080	$	1,004	$	873	$	707

(A) In accordance with the new GAAP effective January 1, 2010, the Company no longer reports securitization income, net in its income statement.

(B) Represents income from continuing operations or net income, as applicable, less (i) earnings allocated to participating share awards and other items of $12 million for the quarter ended December 31, 2010, $13 million for the quarter ended September 30, 2010, $13 million for the quarter ended June 30, 2010, $12 million for the quarter ended March 31, 2010, and $9 million for the quarter ended December 31, 2009.

(Preliminary)

American Express Company

Financial Summary

(Millions)

	Quarters Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2010			2010			2010			2010			2009

Total revenues net of interest expense
U.S. Card Services	$	3,769		$	3,664		$	3,645		$	3,538		$	3,188
International Card Services		1,234			1,169			1,108			1,139			1,215
Global Commercial Services		1,152			1,144			1,084			1,022			1,072
Global Network & Merchant Services		1,190			1,118			1,068			997			1,031
		7,345			7,095			6,905			6,696			6,506

Corporate & Other, including adjustments and eliminations		(23	)		(62	)		(47	)		(90	)		(17	)

CONSOLIDATED TOTAL REVENUES NET OF INTEREST EXPENSE	$	7,322		$	7,033		$	6,858		$	6,606		$	6,489

Pretax income (loss) from continuing operations
U.S. Card Services	$	1,061		$	971		$	828		$	677		$	646
International Card Services		108			145			201			184			40
Global Commercial Services		145			240			240			136			141
Global Network & Merchant Services		395			422			417			415			322
		1,709			1,778			1,686			1,412			1,149
Corporate & Other		(232	)		(138	)		(91	)		(160	)		(188	)

PRETAX INCOME FROM CONTINUING OPERATIONS	$	1,477		$	1,640		$	1,595		$	1,252		$	961

Net income (loss)
U.S. Card Services	$	701		$	595		$	522		$	428		$	413
International Card Services		102			153			160			151			69
Global Commercial Services		106			159			117			92			100
Global Network & Merchant Services		268			259			269			267			200
		1,177			1,166			1,068			938			782
Corporate & Other		(115	)		(73	)		(51	)		(53	)		(72	)
Income from continuing operations		1,062			1,093			1,017			885			710
Income from discontinued operations, net of tax		-			-			-			-			6

NET INCOME	$	1,062		$	1,093		$	1,017		$	885		$	716

(Preliminary)

American Express Company

Financial Summary (continued)

	Quarters Ended
	December 31,		September 30,		June 30,		March 31,		December 31,
	2010		2010		2010		2010		2009
EARNINGS PER COMMON SHARE

BASIC
Income from continuing operations attributable to common shareholders	$	0.88	$	0.91	$	0.84	$	0.74	$	0.59
Income from discontinued operations		-		-		-		-		0.01
Net income attributable to common shareholders	$	0.88	$	0.91	$	0.84	$	0.74	$	0.60

Average common shares outstanding (millions)		1,188		1,193		1,190		1,185		1,179

DILUTED
Income from continuing operations attributable to common shareholders	$	0.88	$	0.90	$	0.84	$	0.73	$	0.59
Income from discontinued operations		-		-		-		-		0.01
Net income attributable to common shareholders	$	0.88	$	0.90	$	0.84	$	0.73	$	0.60

Average common shares outstanding (millions)		1,194		1,199		1,197		1,191		1,184

Cash dividends declared per common share	$	0.18	$	0.18	$	0.18	$	0.18	$	0.18

Selected Statistical Information

	Quarters Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2010			2010			2010			2010			2009

Return on average equity (A)		27.5	%		25.9	%		23.5	%		18.0	%		14.6	%
Return on average common equity (A)		27.2	%		25.6	%		23.2	%		17.1	%		13.6	%
Return on average tangible common equity (A)		35.1	%		33.1	%		30.0	%		22.2	%		17.6	%
Common shares outstanding (millions)		1,197			1,204			1,202			1,198			1,192
Book value per common share	$	13.56		$	13.22		$	12.08		$	11.21		$	12.08
Shareholders' equity (billions)	$	16.2		$	15.9		$	14.5		$	13.4		$	14.4

(A) Refer to Appendix I for components of return on average equity, return on average common equity and return on average tangible common equity.

(Preliminary)

American Express Company

Selected Statistical Information

(Billions, except percentages and where indicated)

	Quarters Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2010			2010			2010			2010			2009
Card billed business (A):
United States	$	131.1		$	120.5		$	119.7		$	108.0		$	115.0
Outside the United States		66.6			58.8			55.6			53.0			57.6
Total	$	197.7		$	179.3		$	175.3		$	161.0		$	172.6
Total cards-in-force (millions) (B):
United States		48.9			48.1			49.0			48.8			48.9
Outside the United States		42.1			40.9			39.9			39.2			39.0
Total		91.0			89.0			88.9			88.0			87.9
Basic cards-in-force (millions) (B):
United States		37.9			37.2			38.1			38.1			38.2
Outside the United States		37.4			36.2			35.2			34.4			34.3
Total		75.3			73.4			73.3			72.5			72.5

Average discount rate (C)		2.52	%		2.56	%		2.56	%		2.55	%		2.51	%
Average basic cardmember spending (dollars) (D)	$	3,629		$	3,330		$	3,288		$	3,012		$	3,209
Average fee per card (dollars) (D)	$	38		$	38		$	37		$	37		$	39
Average fee per card adjusted (dollars) (D)	$	42		$	41		$	41		$	40		$	42

(D) Average basic cardmember spending and average fee per card are computed from proprietary card activities only. Average fee per card is computed based on net card fees, including the amortization of deferred direct acquisition costs, plus card fees included in interest and fees on loans (including related amortization of deferred direct acquisition costs), divided by average worldwide proprietary cards-in-force. The card fees related to cardmember loans included in interest and fees on loans were $63 million for the quarter ended December 31, 2010, $58 million for the quarter ended September 30, 2010, $48 million for the quarter ended June 30, 2010, $51 million for the quarter ended March 31, 2010, and $54 million for the quarter ended December 31, 2009. The adjusted average fee per card is computed in the same manner, but excludes amortization of deferred direct acquisition costs (a portion of which is charge card related and included in net card fees and a portion of which is lending related and included in interest and fees on loans). The amount of amortization excluded for these periods were $51 million for the quarter ended December 31, 2010, $49 million for the quarter ended September 30, 2010, $56 million for the quarter ended June 30, 2010, $51 million for the quarter ended March 31, 2010, and $54 million for the quarter ended December 31, 2009. The Company presents adjusted average fee per card because management believes that this metric presents a useful indicator of card fee pricing across a range of its proprietary card products.

(Preliminary)

American Express Company

Selected Statistical Information (continued)

(Billions, except percentages and where indicated)

	Quarters Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2010			2010			2010			2010			2009

Worldwide cardmember receivables:
Total receivables	$	37.3		$	35.1		$	34.6		$	33.7		$	33.7
Loss reserves (millions):
Beginning balance	$	364		$	440		$	498		$	546		$	599
Provisions for losses on authorized transactions (A)		147			53			55			184			116
Net write-offs (B)		(117	)		(116	)		(121	)		(244	)		(194	)
Other		(8	)		(13	)		8			12			25
Ending balance	$	386		$	364		$	440		$	498		$	546
% of receivables		1.0	%		1.0	%		1.3	%		1.5	%		1.6	%
Net write-off rate - USCS		1.4	%		1.6	%		1.6	%		1.7	%		1.9	%
30 days past due as a % of total - USCS		1.5	%		1.7	%		1.5	%		1.9	%		1.8	%
Net loss ratio (as a % of charge volume) - ICS/GCS (B) (C)		0.09	%		0.09	%		0.10	%		0.38	%		0.22	%
90 days past billing as a % of total - ICS/GCS (B)		0.9	%		0.8	%		1.0	%		0.9	%		1.6	%

Worldwide cardmember loans - (GAAP basis portfolio) (D):
Total loans	$	60.9		$	57.2		$	57.3		$	57.6		$	32.8
30 days past due loans as a % of total		2.1	%		2.5	%		2.8	%		3.3	%		3.6	%
Loss reserves (millions):
Beginning balance	$	4,318		$	4,866		$	5,314		$	3,268		$	3,359
Adoption of new GAAP consolidation standard (E)		N/A			N/A			N/A		$	2,531			N/A
Provisions for losses on authorized transactions		16			239			520			670			544
Net write-offs - principal		(630	)		(728	)		(867	)		(1,035	)		(589	)
Net write-offs - interest and fees		(72	)		(81	)		(92	)		(114	)		(72	)
Other		14			22			(9	)		(6	)		26
Ending balance	$	3,646		$	4,318		$	4,866		$	5,314		$	3,268
Ending Reserves - principal	$	3,551		$	4,210		$	4,743		$	5,161		$	3,172
Ending Reserves - interest and fees	$	95		$	108		$	123		$	153		$	96
% of loans		6.0	%		7.5	%		8.5	%		9.2	%		10.0	%
% of past due		287	%		302	%		307	%		277	%		279	%
Average loans	$	58.5		$	57.4		$	57.5		$	59.3		$	31.8
Net write-off rate		4.3	%		5.1	%		6.0	%		7.0	%		7.4	%
Net interest income divided by average loans (F) (G)		8.1	%		8.2	%		8.3	%		8.9	%		8.9	%
Net interest yield on cardmember loans (F)		9.3	%		9.5	%		9.6	%		10.3	%		10.0	%

Worldwide cardmember loans - (managed basis portfolio) (H):
Total loans	$	60.9		$	57.2		$	57.3		$	57.6		$	61.8
30 days past due loans as a % of total		2.1	%		2.5	%		2.8	%		3.3	%		3.6	%
Net write-offs - principal (millions)	$	630		$	728		$	867		$	1,035		$	1,106
Average loans	$	58.5		$	57.4		$	57.5		$	59.3		$	60.9
Net write-off rate		4.3	%		5.1	%		6.0	%		7.0	%		7.3	%
Net interest yield on cardmember loans (F)		9.3	%		9.5	%		9.6	%		10.3	%		10.3	%

(B) Effective January 1, 2010, the Company revised the time period in which past due cardmember receivables in International Card Services and Global Commercial Services are written off to when they are 180 days past due or earlier, consistent with applicable bank regulatory guidance and the write-off methodology adopted for U.S. Card Services in the fourth quarter of 2008. Previously, receivables were written off when they were 360 days past billing or earlier. Therefore, the net write-offs for the first quarter of 2010 include net write-offs of approximately $60 million for International Card Services and approximately $48 million for Global Commercial Services resulting from this write-off methodology change, which increased the net loss ratios and decreased the 90 days past billing metrics for these segments, but did not have a substantial impact on provisions for losses. If these amounts had been excluded from net write-offs, the combined net loss ratio for International Card Services/Global Commercial Services for the first quarter of 2010 would have been 0.13%.

(C) Beginning with the first quarter of 2010, the Company has revised the net loss ratio to exclude net write-offs related to unauthorized transactions, consistent with the methodology for calculation of the net write-off rate for U.S. Card Services. The metrics for prior periods have not been revised for this change as it was deemed immaterial.

(D) For periods ended on or prior to December 31, 2009, the Company's cardmember loans and related debt performance information on a GAAP basis was referred to as the "owned" basis presentation. The information presented on a GAAP basis for such periods includes only non-securitized cardmember loans that were included in the Company’s balance sheet. Effective January 1, 2010, the Company’s securitized portfolio of cardmember loans and related debt is also consolidated on its balance sheet upon the adoption of the new GAAP. Accordingly, beginning January 1, 2010, the GAAP basis presentation includes both securitized and non-securitized cardmember loans. Refer to page 18 for a discussion of GAAP basis information.

(E) Reflects the new GAAP effective January 1, 2010, which resulted in the consolidation of the American Express Credit Account Master Trust (the Lending Trust), reflecting $29.0 billion of additional cardmember loans along with a $2.5 billion loan loss reserve on the Company's balance sheets.

(F) See Appendix III for calculations of net interest yield on cardmember loans, a non-GAAP measure and net interest income divided by average loans, a GAAP measure. Management believes net interest yield on cardmember loans is useful to investors because it provides a measure of profitability of the Company’s cardmember loans portfolio.

(G) This calculation includes elements of total interest income and total interest expense that are not attributable to the cardmember loan portfolio, and thus is not representative of net interest yield on cardmember loans. The calculation includes interest income and interest expense attributable to investment securities and other interest-bearing deposits as well as to cardmember loans, and interest expense attributable to other activities, including cardmember receivables.

(H) For periods ended on or prior to December 31, 2009, information presented is based on the Company’s historical non-GAAP, or “managed” basis presentation. Unlike the GAAP basis presentation, the information presented on a managed basis in such periods includes both the securitized and non-securitized cardmember loans. The adoption of new GAAP on January 1, 2010 resulted in accounting for both the Company's securitized and non-securitized cardmember loans in the consolidated financial statements. As a result, the Company's 2010 GAAP presentations and managed basis presentations prior to 2010 are generally comparable. Refer to page 18 for a discussion of managed basis information.

(Preliminary)

U.S. Card Services

Selected Income Statement Data

(Millions)

	Quarters Ended							Years Ended
	December 31,				Percentage			December 31,				Percentage
	2010		2009		Inc/(Dec)			2010		2009		Inc/(Dec)

Revenues
Discount revenue, net card fees and other	$	2,647	$	2,377		11	%	$	10,038	$	9,105		10
Securitization income, net (A)		N/A		190		-			N/A		400		-
Interest income		1,330		754		76			5,390		3,216		68
Interest expense		208		133		56			812		568		43
Net interest income		1,122		621		81			4,578		2,648		73
Total revenues net of interest expense		3,769		3,188		18			14,616		12,153		20
Provisions for losses		111		346		(68	)		1,591		3,769		(58	)
Total revenues net of interest expense after provisions for losses		3,658		2,842		29			13,025		8,384		55
Expenses
Marketing, promotion, rewards and cardmember services		1,509		1,306		16			5,651		4,266		32
Salaries and employee benefits and other operating expenses		1,088		890		22			3,837		3,532		9
Total		2,597		2,196		18			9,488		7,798		22
Pretax segment income		1,061		646		64			3,537		586		#
Income tax provision		360		233		55			1,291		175		#
Segment income	$	701	$	413		70		$	2,246	$	411		#

# - Denotes a variance of more than 100%.

(A) In accordance with the new GAAP effective January 1, 2010, the Company no longer reports securitization income, net in its income statement.

(Preliminary)

U.S. Card Services

Selected Financial Information

Managed Basis Presentation

The following table sets forth portfolio financial information for the quarters and years ended December 31, 2010 and December 31, 2009. The December 31, 2010 financial information was determined in accordance with the new GAAP effective January 1, 2010. The December 31, 2009 information includes the "owned" (GAAP) basis presentation, together with the adjustments for securitization activity to arrive at the "managed" (non-GAAP) basis presentation. For additional information, see “Cardmember Loan Portfolio Presentation” below.

(Millions)

	Quarters Ended								Years Ended
	December 31,					Percentage			December 31,					Percentage
	2010		2009			Inc/(Dec)			2010		2009			Inc/(Dec)

Income Statement Data
Discount revenue, net card fees and other:
Reported for the period (GAAP)	$	2,647	$	2,377			11	%	$	10,038	$	9,105			10	%
Securitization adjustments		N/A		71			-			N/A		331			-
Managed discount revenue, net card fees and other	$	2,647	$	2,448			8		$	10,038	$	9,436			6

Interest income:
Reported for the period (GAAP)	$	1,330	$	754			76		$	5,390	$	3,216			68
Securitization adjustments		N/A		726			-			N/A		3,097			-
Managed interest income	$	1,330	$	1,480			(10	)	$	5,390	$	6,313			(15	)

Securitization income, net: (A)
Reported for the period (GAAP)		N/A	$	190			-			N/A	$	400			-
Securitization adjustments		N/A		(190	)		-			N/A		(400	)		-
Managed securitization income, net		N/A	$	-			-			N/A	$	-			-

Interest expense:
Reported for the period (GAAP)	$	208	$	133			56		$	812	$	568			43
Securitization adjustments		N/A		55			-			N/A		244			-
Managed interest expense	$	208	$	188			11		$	812	$	812			-

Provisions for losses:
Reported for the period (GAAP)	$	111	$	346			(68	)	$	1,591	$	3,769			(58	)
Securitization adjustments		N/A		572	(B)		-			N/A		2,573	(B)		-
Managed provisions for losses	$	111	$	918	(B)		(88	)	$	1,591	$	6,342	(B)		(75	)

# - Denotes a variance of more than 100%.

(A) In accordance with the new GAAP effective January 1, 2010, the Company no longer reports securitization income, net in its income statement.

(B) Includes provisions for losses for off-balance sheet cardmember loans based on the same methodology as applied to on-balance sheet cardmember loans, except that any quarterly adjustment to reserve levels for on-balance sheet loans to address external environmental factors was not applied to adjust the provision expense for the securitized portfolio.

Cardmember Loan Portfolio Presentation

For periods ended on or prior to December 31, 2009, the Company’s non-securitized cardmember loans and related debt performance information on a GAAP basis was referred to as the “owned” basis presentation. For such periods, the Company also provided information on a non-GAAP “managed” basis. Unlike the GAAP basis presentation, the managed basis presentation in such periods assumed there had been no off-balance sheet securitizations for the Company’s U.S. Card Services segment (the Company does not currently securitize its international cardmember loans), resulting in the inclusion of all securitized and non-securitized cardmember loans and related debt in the Company’s performance information.

Under the GAAP basis presentation prior to securitization for periods ended on or prior to December 31, 2009, revenues and expenses from cardmember loans and related debt were reflected in the Company’s income statements in other commissions and fees, net interest income and provisions for losses for cardmember loans. At the time of a securitization transaction, the securitized cardmember loans were removed from the Company’s balance sheet, and the resulting gain on sale was reflected in securitization income, net, as well as a reduction to provisions for losses (credit reserves were no longer recorded for the cardmember loans once sold). Over the life of a securitization transaction, the Company recognized the net cash flow from interest and fee collections on interests sold to investors (the investors’ interests) after deducting interest paid on the investors’ certificates, credit losses, contractual service fees, other expenses and changes in the fair value of the interest-only strip (referred to as “excess spread”). These amounts, in addition to servicing fees and the non-credit components of the gains/(losses) from securitization activities were reflected in securitization income, net. The Company also recognized interest income over the life of the securitization transaction related to the interest it retained (i.e., the seller’s interest).

At the maturity of a securitization transaction, cardmember loans on the balance sheet increased, and the impact of the incremental required loss reserves was recorded in provisions for losses.

Under the managed basis presentation for periods ended on or prior to December 31, 2009, revenues and expenses related to securitized cardmember loans and related debt were reflected in other commissions and fees (included in discount revenue, net card fees and other), interest income, interest expense and provisions for losses. In addition, there was no securitization income, net as this presentation assumed no securitization transactions had occurred.

Historically, the Company included U.S. Card Services information on a managed basis, as that was the manner in which the Company’s management viewed and managed the business. Management believed that a full picture of trends in the Company’s cardmember loans business could only be derived by evaluating the performance of both securitized and non-securitized cardmember loans, as the presentation of the entire cardmember loan portfolio was more representative of the economics of the aggregate cardmember relationships and ongoing business performance and related trends over time. The managed basis presentation also provided investors a more comprehensive assessment of the information necessary for the Company and investors to evaluate the Company’s market share.

The adoption of new GAAP on January 1, 2010 resulted in accounting for both the Company's securitized and non-securitized cardmember loans in the consolidated financial statements. As a result, the Company's 2010 GAAP presentations and managed basis presentations prior to 2010 are generally comparable.

(Preliminary)

U.S. Card Services

Selected Statistical Information

(Billions, except percentages and where indicated)

	Quarters Ended									Years Ended
	December 31,						Percentage			December 31,						Percentage
	2010			2009			Inc/(Dec)			2010			2009			Inc/(Dec)

Card billed business	$	103.4		$	92.1			12	%	$	378.1		$	339.4			11	%
Total cards-in-force (millions)		39.9			39.5			1	%		39.9			39.5			1	%
Basic cards-in-force (millions)		29.7			29.5			1	%		29.7			29.5			1	%
Average basic cardmember spending (dollars)	$	3,480		$	3,112			12	%	$	12,795		$	10,957			17	%

U.S. Consumer Travel:
Travel sales (millions)	$	713		$	609			17	%	$	3,116		$	2,561			22	%
Travel commissions and fees/sales		8.8	%		8.5	%					8.2	%		8.4	%

Total segment assets	$	91.3		$	57.6	*		59	%	$	91.3		$	57.6	*		59	%
Segment capital (millions) (A)	$	7,411		$	6,021			23	%	$	7,411		$	6,021			23	%
Return on average segment capital (B)		35.4	%		8.0	%					35.4	%		8.0	%
Return on average tangible segment capital (B)		38.1	%		8.7	%					38.1	%		8.7	%

Cardmember receivables:
Total receivables	$	19.2		$	17.8			8	%	$	19.2		$	17.8			8	%
30 days past due as a % of total		1.5	%		1.8	%					1.5	%		1.8	%
Average receivables	$	17.5		$	16.5			6	%	$	17.1		$	16.1			6	%
Net write-off rate		1.4	%		1.9	%					1.6	%		3.8	%

Cardmember loans - (GAAP basis portfolio) (C):
Total loans	$	51.6		$	23.5			#	%	$	51.6		$	23.5			#	%
30 days past due loans as a % of total		2.1	%		3.7	%					2.1	%		3.7	%
Average loans	$	49.8		$	22.7			#	%	$	49.8		$	25.9			92	%
Net write-off rate		4.4	%		8.0	%					5.8	%		9.1	%
Net interest income divided by average loans (D) (E)		8.9	%		10.9	%					9.2	%		10.2	%
Net interest yield on cardmember loans (D)		9.1	%		9.4	%					9.4	%		9.4	%

Cardmember loans - (managed basis portfolio) (F):
Total loans	$	51.6		$	52.6			(2	) %	$	51.6		$	52.6			(2	) %
30 days past due loans as a % of total		2.1	%		3.7	%					2.1	%		3.7	%
Average loans	$	49.8		$	51.8			(4	) %	$	49.8		$	54.9			(9	) %
Net write-off rate		4.4	%		7.5	%					5.8	%		8.7	%
Net interest yield on cardmember loans (D)		9.1	%		10.0	%					9.4	%		10.1	%

* Revised from prior disclosure due to the reclassification of certain intercompany accounts.

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital.

(C) For periods ended on or prior to December 31, 2009, the Company’s cardmember loans and related debt performance information on a GAAP basis was referred to as the "owned" basis presentation. The information presented on a GAAP basis for the quarter ended December 31, 2009 includes only non-securitized cardmember loans that were included in the Company’s balance sheet. Effective January 1, 2010, the Company’s securitized portfolio of cardmember loans and related debt is also consolidated on its balance sheet upon the adoption of the new GAAP. Accordingly, beginning January 1, 2010, the GAAP basis presentation includes both securitized and non-securitized cardmember loans. Refer to page 18 for a discussion of GAAP basis information.

(D) See Appendix IV for calculations of net interest yield on cardmember loans, a non-GAAP measure and net interest income divided by average loans, a GAAP measure. Management believes net interest yield on cardmember loans is useful to investors because it provides a measure of profitability of the Company’s cardmember loans portfolio.

(E) This calculation includes elements of total interest income and total interest expense that are not attributable to the cardmember loan portfolio, and thus is not representative of net interest yield on cardmember loans. The calculation includes interest income and interest expense attributable to investment securities and other interest-bearing deposits as well as to cardmember loans, and interest expense attributable to other activities, including cardmember receivables.

(F) For periods ended on or prior to December 31, 2009, information presented is based on the Company’s historical non-GAAP, or “managed” basis presentation. Unlike the GAAP basis presentation, the information presented on a managed basis in such periods includes both the securitized and non-securitized cardmember loans. The adoption of new GAAP on January 1, 2010 resulted in accounting for both the Company's securitized and non-securitized cardmember loans in the consolidated financial statements. As a result, the Company's 2010 GAAP presentations and managed basis presentations prior to 2010 are generally comparable. Refer to page 18 for a discussion of managed basis information.

(Preliminary)

U.S. Card Services

Selected Income Statement Data

(Millions)

	Quarters Ended
	December 31,		September 30,		June 30,		March 31,		December 31,
	2010		2010		2010		2010		2009

Revenues
Discount revenue, net card fees and other	$	2,647	$	2,540	$	2,534	$	2,317	$	2,377
Securitization income, net (A)		N/A		N/A		N/A		N/A		190
Interest income		1,330		1,334		1,315		1,411		754
Interest expense		208		210		204		190		133
Net interest income		1,122		1,124		1,111		1,221		621
Total revenues net of interest expense		3,769		3,664		3,645		3,538		3,188
Provisions for losses		111		274		519		687		346
Total revenues net of interest expense after provisions for losses		3,658		3,390		3,126		2,851		2,842
Expenses
Marketing, promotion, rewards and cardmember services		1,509		1,455		1,386		1,301		1,306
Salaries and employee benefits and other operating expenses		1,088		964		912		873		890
Total		2,597		2,419		2,298		2,174		2,196
Pretax segment income		1,061		971		828		677		646
Income tax provision		360		376		306		249		233
Segment income	$	701	$	595	$	522	$	428	$	413

(A) In accordance with the new GAAP effective January 1, 2010, the Company no longer reports securitization income, net in its income statement.

(Preliminary)

U.S. Card Services

Selected Financial Information

Managed Basis Presentation

The following table sets forth portfolio financial information for the quarters ended December 31, 2010, September 30, 2010, June 30, 2010, March 31, 2010 and December 31, 2009. The December 31, 2010, September 30, 2010, June 30, 2010 and March 31, 2010 financial information was determined in accordance with the new GAAP effective January 1, 2010. The December 31, 2009 information includes the "owned" (GAAP) basis presentation, together with the adjustments for securitization activity to arrive at the "managed" (non-GAAP) basis presentation. For additional information, please see "Cardmember Loan Portfolio Presentation" discussion on page 18.

(Millions)

	Quarters Ended
	December 31,		September 30,		June 30,		March 31,		December 31,
	2010		2010		2010		2010		2009

Income Statement Data
Discount revenue, net card fees and other:
Reported for the period (GAAP)	$	2,647	$	2,540	$	2,534	$	2,317	$	2,377
Securitization adjustments		N/A		N/A		N/A		N/A		71
Managed discount revenue, net card fees and other	$	2,647	$	2,540	$	2,534	$	2,317	$	2,448

Interest income:
Reported for the period (GAAP)	$	1,330	$	1,334	$	1,315	$	1,411	$	754
Securitization adjustments		N/A		N/A		N/A		N/A		726
Managed interest income	$	1,330	$	1,334	$	1,315	$	1,411	$	1,480

Securitization income, net (A):
Reported for the period (GAAP)		N/A		N/A		N/A		N/A	$	190
Securitization adjustments		N/A		N/A		N/A		N/A		(190	)
Managed securitization income, net		N/A		N/A		N/A		N/A	$	-

Interest expense:
Reported for the period (GAAP)	$	208	$	210	$	204	$	190	$	133
Securitization adjustments		N/A		N/A		N/A		N/A		55
Managed interest expense	$	208	$	210	$	204	$	190	$	188

Provisions for losses:
Reported for the period (GAAP)	$	111	$	274	$	519	$	687	$	346
Securitization adjustments		N/A		N/A		N/A		N/A		572	(B)
Managed provisions for losses	$	111	$	274	$	519	$	687	$	918	(B)

(A) In accordance with the new GAAP effective January 1, 2010, the Company no longer reports securitization income, net in its income statement.

(Preliminary)

U.S. Card Services

Selected Statistical Information

(Billions, except percentages and where indicated)

	Quarters Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2010			2010			2010			2010			2009

Card billed business	$	103.4		$	95.2		$	94.6		$	84.9		$	92.1
Total cards-in-force (millions)		39.9			39.9			39.6			39.5			39.5
Basic cards-in-force (millions)		29.7			29.7			29.5			29.4			29.5
Average basic cardmember spending (dollars)	$	3,480		$	3,219		$	3,212		$	2,884		$	3,112

U.S. Consumer Travel:
Travel sales	$	0.7		$	0.8		$	0.8		$	0.7		$	0.6
Travel commissions and fees/sales		8.8	%		8.6	%		7.9	%		7.8	%		8.5	%

Total segment assets	$	91.3		$	81.1	*	$	80.8	*	$	74.9	*	$	57.6	*
Segment capital (A)	$	7.4		$	7.0		$	6.0		$	5.3		$	6.0
Return on average segment capital (B)		35.4	%		32.8	%		26.9	%		15.8	%		8.0	%
Return on average tangible segment capital (B)		38.1	%		35.5	%		29.2	%		17.2	%		8.7	%

Cardmember receivables:
Total receivables	$	19.2		$	16.5		$	17.3		$	16.6		$	17.8
30 days past due as a % of total		1.5	%		1.7	%		1.5	%		1.9	%		1.8	%
Average receivables	$	17.5		$	16.9		$	17.1		$	16.7		$	16.5
Net write-off rate		1.4	%		1.6	%		1.6	%		1.7	%		1.9	%

Cardmember loans - (GAAP basis portfolio) (C):
Total loans	$	51.6		$	48.7		$	49.0		$	49.2		$	23.5
30 days past due loans as a % of total		2.1	%		2.5	%		2.7	%		3.3	%		3.7	%
Average loans	$	49.8		$	49.1		$	49.1		$	50.5		$	22.7
Net write-off rate		4.4	%		5.2	%		6.2	%		7.2	%		8.0	%
Net interest income divided by average loans (D) (E)		8.9	%		9.1	%		9.1	%		9.8	%		10.9	%
Net interest yield on cardmember loans (D)		9.1	%		9.3	%		9.3	%		10.0	%		9.4	%

Cardmember loans - (managed basis portfolio) (F):
Total loans	$	51.6		$	48.7		$	49.0		$	49.2		$	52.6
30 days past due loans as a % of total		2.1	%		2.5	%		2.7	%		3.3	%		3.7	%
Average loans	$	49.8		$	49.1		$	49.1		$	50.5		$	51.8
Net write-off rate		4.4	%		5.2	%		6.2	%		7.2	%		7.5	%
Net interest yield on cardmember loans (D)		9.1	%		9.3	%		9.3	%		10.0	%		10.0	%

* Revised from prior disclosure due to the reclassification of certain intercompany accounts.

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital.

(C) For periods ended on or prior to December 31, 2009, the Company’s cardmember loans and related debt performance information on a GAAP basis was referred to as the "owned" basis presentation. The information presented on a GAAP basis for such periods includes only non-securitized cardmember loans that were included in the Company’s balance sheet. Effective January 1, 2010, the Company’s securitized portfolio of cardmember loans and related debt is also consolidated on its balance sheet upon the adoption of the new GAAP. Accordingly, beginning January 1, 2010, the GAAP basis presentation includes both securitized and non-securitized cardmember loans. Refer to page 18 for a discussion of GAAP basis information.

(Preliminary)

International Card Services

Selected Income Statement Data

(Millions)

	Quarters Ended								Years Ended
	December 31,					Percentage			December 31,					Percentage
	2010		2009			Inc/(Dec)			2010		2009			Inc/(Dec)

Revenues
Discount revenue, net card fees and other	$	1,006	$	944			7	%	$	3,685	$	3,447			7	%
Interest income		346		384			(10	)		1,393		1,509			(8	)
Interest expense		118		113			4			428		427			-
Net interest income		228		271			(16	)		965		1,082			(11	)
Total revenues net of interest expense		1,234		1,215			2			4,650		4,529			3
Provisions for losses		80		324			(75	)		392		1,211			(68	)
Total revenues net of interest expense after provisions for losses		1,154		891			30			4,258		3,318			28
Expenses
Marketing, promotion, rewards and cardmember services		458		374			22			1,612		1,221			32
Salaries and employee benefits and other operating expenses		588		477			23			2,008		1,821			10
Total		1,046		851			23			3,620		3,042			19
Pretax segment income		108		40			#			638		276			#
Income tax provision (benefit)		6		(29	)		#			72		(56	)		#
Segment income	$	102	$	69			48		$	566	$	332			70

# - Denotes variance of more than 100%.

(Preliminary)

International Card Services

Selected Statistical Information

(Billions, except percentages and where indicated)

	Quarters Ended									Years Ended
	December 31,						Percentage			December 31,						Percentage
	2010			2009			Inc/(Dec)			2010			2009			Inc/(Dec)

Card billed business	$	30.9		$	27.5			12	%	$	107.9		$	94.9			14	%
Total cards-in-force (millions)		15.0			15.0			-	%		15.0			15.0			-	%
Basic cards-in-force (millions)		10.4			10.5			(1	) %		10.4			10.5			(1	) %
Average basic cardmember spending (dollars)	$	2,971		$	2,618			13	%	$	10,366		$	8,758			18	%

International Consumer Travel:
Travel sales (millions)	$	312		$	278			12	%	$	1,126		$	985			14	%
Travel commissions and fees/sales		8.7	%		9.0	%					8.0	%		8.6	%

Total segment assets	$	25.3		$	23.0	*		10	%	$	25.3		$	23.0	*		10	%
Segment capital (millions) (A)	$	2,199		$	2,262			(3	) %	$	2,199		$	2,262			(3	) %
Return on average segment capital (B)		26.5	%		15.1	%					26.5	%		15.1	%
Return on average tangible segment capital (B)		36.7	%		20.1	%					36.7	%		20.1	%

Cardmember receivables:
Total receivables	$	6.7		$	5.9			14	%	$	6.7		$	5.9			14	%
90 days past billing as a % of total		1.0	%		2.1	%					1.0	%		2.1	%
Net loss ratio (as a % of charge volume)		0.15	%		0.37	%					0.24	%		0.36	%

Cardmember loans:
Total loans	$	9.3		$	9.2			1	%	$	9.3		$	9.2			1	%
30 days past due loans as a % of total		2.3	%		3.3	%					2.3	%		3.3	%
Average loans	$	8.7		$	9.0			(3	) %	$	8.6		$	8.9			(3	) %
Net write-off rate		4.0	%		6.1	%					4.6	%		6.8	%
Net interest income divided by average loans (C) (D)		10.4	%		11.9	%					11.2	%		12.2	%
Net interest yield on cardmember loans (C)		10.6	%		11.7	%					11.1	%		12.2	%

* Revised from prior disclosure due to the reclassification of certain intercompany accounts.

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital.

(C) See Appendix IV for calculations of net interest yield on cardmember loans, a non-GAAP measure and net interest income divided by average loans, a GAAP measure. Management believes net interest yield on cardmember loans is useful to investors because it provides a measure of profitability of the Company’s cardmember loans portfolio.

(Preliminary)

International Card Services

Selected Income Statement Data

(Millions)

	Quarters Ended
	December 31,		September 30,			June 30,		March 31,		December 31,
	2010		2010			2010		2010		2009

Revenues
Discount revenue, net card fees and other	$	1,006	$	932		$	865	$	882	$	944
Interest income		346		342			342		363		384
Interest expense		118		105			99		106		113
Net interest income		228		237			243		257		271
Total revenues net of interest expense		1,234		1,169			1,108		1,139		1,215
Provisions for losses		80		64			90		158		324
Total revenues net of interest expense after provisions for losses		1,154		1,105			1,018		981		891
Expenses
Marketing, promotion, rewards and cardmember services		458		428			376		350		374
Salaries and employee benefits and other operating expenses		588		532			441		447		477
Total		1,046		960			817		797		851
Pretax segment income		108		145			201		184		40
Income tax provision (benefit)		6		(8	)		41		33		(29	)
Segment income	$	102	$	153		$	160	$	151	$	69

(Preliminary)

International Card Services

Selected Statistical Information

(Billions, except percentages and where indicated)

	Quarters Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2010			2010			2010			2010			2009

Card billed business	$	30.9		$	27.1		$	25.5		$	24.4		$	27.5
Total cards-in-force (millions)		15.0			15.0			15.0			15.0			15.0
Basic cards-in-force (millions)		10.4			10.4			10.4			10.4			10.5
Average basic cardmember spending (dollars)	$	2,971		$	2,609		$	2,449		$	2,340		$	2,618

International Consumer Travel:
Travel sales	$	0.3		$	0.3		$	0.3		$	0.3		$	0.3
Travel commissions and fees/sales		8.7	%		7.9	%		8.0	%		7.3	%		9.0	%

Total segment assets	$	25.3		$	21.9	*	$	20.6	*	$	21.1	*	$	23.0	*
Segment capital (A)	$	2.2		$	2.1		$	2.0		$	2.1		$	2.3
Return on average segment capital (B)		26.5	%		24.8	%		23.6	%		19.7	%		15.1	%
Return on average tangible segment capital (B)		36.7	%		33.8	%		31.8	%		26.5	%		20.1	%

Cardmember receivables:
Total receivables	$	6.7		$	6.2		$	5.6		$	5.5		$	5.9
90 days past billing as a % of total (C)		1.0	%		1.0	%		1.0	%		1.0	%		2.1	%
Net loss ratio (as a % of charge volume) (C) (D)		0.15	%		0.14	%		0.15	%		0.53	%		0.37	%

Cardmember loans:
Total loans	$	9.3		$	8.5		$	8.3		$	8.4		$	9.2
30 days past due loans as a % of total		2.3	%		2.8	%		3.0	%		3.3	%		3.3	%
Average loans	$	8.7		$	8.3		$	8.3		$	8.8		$	9.0
Net write-off rate		4.0	%		4.3	%		4.9	%		5.5	%		6.1	%
Net interest income divided by average loans (E) (F)		10.4	%		11.3	%		11.7	%		11.8	%		11.9	%
Net interest yield on cardmember loans (E)		10.6	%		11.1	%		11.4	%		11.7	%		11.7	%

* Revised from prior disclosure due to the reclassification of certain intercompany accounts.

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital.

(C) Effective January 1, 2010, the Company revised the time period in which past due cardmember receivables in International Card Services are written off to when they are 180 days past due or earlier, consistent with applicable bank regulatory guidance and the write-off methodology adopted for U.S. Card Services in the fourth quarter of 2008. Previously, receivables were written off when they were 360 days past billing or earlier. Therefore, the net write-offs for the first quarter of 2010 include net write-offs of approximately $60 million for International Card Services resulting from this write-off methodology change, which increased the net loss ratio and decreased the 90 days past billing metric for this segment, but did not have a substantial impact on provisions for losses. If this amount had been excluded from net write-offs, the net loss ratio for International Card Services for the first quarter of 2010 would have been 0.17%.

(D) Beginning with the first quarter of 2010, the Company has revised the net loss ratio to exclude net write-offs related to unauthorized transactions, consistent with the methodology for calculation of the net write-off rate for U.S. Card Services. The metrics for prior periods have not been revised for this change as it was deemed immaterial.

(E) See Appendix IV for calculations of net interest yield on cardmember loans, a non-GAAP measure and net interest income divided by average loans, a GAAP measure. Management believes net interest yield on cardmember loans is useful to investors because it provides a measure of profitability of the Company’s cardmember loans portfolio.

(F) This calculation includes elements of total interest income and total interest expense that are not attributable to the cardmember loan portfolio, and thus is not representative of net interest yield on cardmember loans. The calculation includes interest income and interest expense attributable to investment securities and other interest-bearing deposits as well as to cardmember loans, and interest expense attributable to other activities, including cardmember receivables.

(Preliminary)

Global Commercial Services

Selected Income Statement Data

(Millions)

	Quarters Ended									Years Ended
	December 31,						Percentage			December 31,						Percentage
	2010			2009			Inc/(Dec)			2010			2009			Inc/(Dec)

Revenues
Discount revenue, net card fees and other	$	1,215		$	1,120			8	%	$	4,622		$	4,158			11	%
Interest income		2			1			100			7			5			40
Interest expense		65			49			33			227			180			26
Net interest expense		(63	)		(48	)		31			(220	)		(175	)		26
Total revenues net of interest expense		1,152			1,072			7			4,402			3,983			11
Provisions for losses		30			37			(19	)		158			177			(11	)
Total revenues net of interest expense after provisions for losses		1,122			1,035			8			4,244			3,806			12
Expenses
Marketing, promotion, rewards and cardmember services		112			98			14			442			332			33
Salaries and employee benefits and other operating expenses		865			796			9			3,041			2,969			2
Total		977			894			9			3,483			3,301			6
Pretax segment income		145			141			3			761			505			51
Income tax provision		39			41			(5	)		287			155			85
Segment income	$	106		$	100			6		$	474		$	350			35

# - Denotes variance of more than 100%.

(Preliminary)

Global Commercial Services

Selected Statistical Information

(Billions, except percentages and where indicated)

	Quarters Ended December 31,						Percentage			Years Ended December 31,						Percentage
	2010			2009			Inc/(Dec)			2010			2009			Inc/(Dec)

Card billed business	$	35.9		$	31.0			16	%	$	132.8		$	111.2			19	%
Total cards-in-force (millions)		7.1			7.1			-	%		7.1			7.1			-	%
Basic cards-in-force (millions)		7.1			7.1			-	%		7.1			7.1			-	%
Average basic cardmember spending (dollars)	$	5,083		$	4,357			17	%	$	18,927		$	15,544			22	%

Global Corporate Travel:
Travel sales	$	4.6		$	4.1			12	%	$	17.5		$	14.6			20	%
Travel commissions and fees/sales		8.3	%		8.8	%					8.2	%		8.8	%

Total segment assets	$	18.9		$	16.1	*		17	%	$	18.9		$	16.1	*		17	%
Segment capital (millions) (A)	$	3,650		$	3,719			(2	) %	$	3,650		$	3,719			(2	) %
Return on average segment capital (B)		13.2	%		9.7	%					13.2	%		9.7	%
Return on average tangible segment capital (B)		28.6	%		20.8	%					28.6	%		20.8	%

Cardmember receivables:
Total receivables	$	11.3		$	9.8			15	%	$	11.3		$	9.8			15	%
90 days past billing as a % of total		0.8	%		1.4	%					0.8	%		1.4	%
Net loss ratio (as a % of charge volume)		0.06	%		0.14	%					0.11	%		0.19	%

* Revised from prior disclosure due to the reclassification of certain intercompany accounts.

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital.

(Preliminary)

Global Commercial Services

Selected Income Statement Data

(Millions)

	Quarters Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2010			2010			2010			2010			2009

Revenues
Discount revenue, net card fees and other	$	1,215		$	1,200		$	1,138		$	1,069		$	1,120
Interest income		2			2			2			1			1
Interest expense		65			58			56			48			49
Net interest expense		(63	)		(56	)		(54	)		(47	)		(48	)
Total revenues net of interest expense		1,152			1,144			1,084			1,022			1,072
Provisions for losses		30			22			28			78			37
Total revenues net of interest expense after provisions for losses		1,122			1,122			1,056			944			1,035
Expenses
Marketing, promotion, rewards and cardmember services		112			110			107			113			98
Salaries and employee benefits and other operating expenses		865			772			709			695			796
Total		977			882			816			808			894
Pretax segment income		145			240			240			136			141
Income tax provision		39			81			123			44			41
Segment income	$	106		$	159		$	117		$	92		$	100

(Preliminary)

Global Commercial Services

Selected Statistical Information

(Billions, except percentages and where indicated)

	Quarters Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2010			2010			2010			2010			2009

Card billed business	$	35.9		$	33.2		$	32.9		$	30.8		$	31.0
Total cards-in-force (millions)		7.1			7.0			7.0			7.0			7.1
Basic cards-in-force (millions)		7.1			7.0			7.0			7.0			7.1
Average basic cardmember spending (dollars)	$	5,083		$	4,734		$	4,712		$	4,400		$	4,357

Global Corporate Travel:
Travel sales	$	4.6		$	4.2		$	4.6		$	4.1		$	4.1
Travel commissions and fees/sales		8.3	%		9.3	%		7.6	%		7.4	%		8.8	%

Total segment assets	$	18.9		$	18.9	*	$	17.8	*	$	17.5	*	$	16.1	*
Segment capital (A)	$	3.7		$	3.6		$	3.5		$	3.4		$	3.7
Return on average segment capital (B)		13.2	%		13.0	%		11.5	%		10.1	%		9.7	%
Return on average tangible segment capital (B)		28.6	%		28.1	%		25.0	%		21.9	%		20.8	%

Cardmember receivables:
Total receivables	$	11.3		$	12.2		$	11.5		$	11.4		$	9.8
90 days past billing as a % of total (C)		0.8	%		0.8	%		1.0	%		0.8	%		1.4	%
Net loss ratio (as a % of charge volume) (C) (D)		0.06	%		0.06	%		0.06	%		0.28	%		0.14	%

* Revised from prior disclosure due to the reclassification of certain intercompany accounts.

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital.

(C) Effective January 1, 2010, the Company revised the time period in which past due cardmember receivables in Global Commercial Services are written off to when they are 180 days past due or earlier, consistent with applicable bank regulatory guidance and the write-off methodology adopted for U.S. Card Services in the fourth quarter of 2008. Previously, receivables were written off when they were 360 days past billing or earlier. Therefore, the net write-offs for the first quarter of 2010 include net write-offs of approximately $48 million for Global Commercial Services resulting from this write-off methodology change, which increased the net loss ratio and decreased the 90 days past billing metric for this segment, but did not have a substantial impact on provisions for losses. If this amount had been excluded from net write-offs, the net loss ratio for Global Commercial Services for the first quarter of 2010 would have been 0.11%.

(Preliminary)

Global Network & Merchant Services

Selected Income Statement Data

(Millions)

	Quarters Ended December 31,						Percentage			Years Ended December 31,						Percentage
	2010			2009			Inc/(Dec)			2010			2009			Inc/(Dec)
Revenues
Discount revenue, fees and other	$	1,133		$	986			15	%	$	4,169		$	3,602			16	%
Interest income		1			1			-			4			1			#
Interest expense		(56	)		(44	)		27			(200	)		(177	)		13
Net interest income		57			45			27			204			178			15
Total revenues net of interest expense		1,190			1,031			15			4,373			3,780			16
Provisions for losses		15			34			(56	)		61			135			(55	)
Total revenues net of interest expense after provisions for losses		1,175			997			18			4,312			3,645			18
Expenses
Marketing, promotion, rewards and cardmember services		172			206			(17	)		755			521			45
Salaries and employee benefits and other operating expenses		608			469			30			1,908			1,679			14
Total		780			675			16			2,663			2,200			21
Pretax segment income		395			322			23			1,649			1,445			14
Income tax provision		127			122			4			586			508			15
Segment income	$	268		$	200			34		$	1,063		$	937			13

# - Denotes variance of more than 100%.

(Preliminary)

Global Network & Merchant Services

Selected Statistical Information

(Billions, except percentages and where indicated)

	Quarters Ended December 31,						Percentage			Years Ended December 31,						Percentage
	2010			2009			Inc/(Dec)			2010			2009			Inc/(Dec)

Global Card billed business (A)	$	197.7		$	172.6			15	%	$	713.3		$	619.8			15	%

Global Network & Merchant Services:
Total segment assets	$	13.6		$	12.3	*		11	%	$	13.6		$	12.3	*		11	%
Segment capital (millions) (B)	$	1,922		$	1,443			33	%	$	1,922		$	1,443			33	%
Return on average segment capital (C)		63.9	%		65.7	%					63.9	%		65.7	%
Return on average tangible segment capital (C)		66.7	%		67.4	%					66.7	%		67.4	%

Global Network Services (D):
Card billed business	$	26.9		$	21.4			26	%	$	91.7		$	71.8			28	%
Total cards-in-force (millions)		29.0			26.3			10	%		29.0			26.3			10	%

* Revised from prior disclosure due to the reclassification of certain intercompany accounts.

(A) Global Card billed business includes activities (including cash advances) related to proprietary cards, cards issued under network partnership agreements (non-proprietary billed business), and certain insurance fees charged on proprietary cards. In-store spend activity within retail co-brand portfolios in Global Network Services, from which the Company earns no revenue, is not included in non-proprietary billed business.

(B) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(C) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital.

(D) For non-proprietary retail co-brand partners, Global Network Services metrics exclude cardmember accounts which have no out-of-store spend activity during the prior 12 month period.

(Preliminary)

Global Network & Merchant Services

Selected Income Statement Data

(Millions)

	Quarters Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2010			2010			2010			2010			2009
Revenues
Discount revenue, fees and other	$	1,133		$	1,066		$	1,021		$	949		$	986
Interest income		1			1			1			1			1
Interest expense		(56	)		(51	)		(46	)		(47	)		(44	)
Net interest income		57			52			47			48			45
Total revenues net of interest expense		1,190			1,118			1,068			997			1,031
Provisions for losses		15			13			12			21			34
Total revenues net of interest expense after provisions for losses		1,175			1,105			1,056			976			997
Expenses
Marketing, promotion, rewards and cardmember services		172			208			209			166			206
Salaries and employee benefits and other operating expenses		608			475			430			395			469
Total		780			683			639			561			675
Pretax segment income		395			422			417			415			322
Income tax provision		127			163			148			148			122
Segment income	$	268		$	259		$	269		$	267		$	200

(Preliminary)

Global Network & Merchant Services

Selected Statistical Information

(Billions, except percentages and where indicated)	Quarters Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2010			2010			2010			2010			2009

Global Card billed business (A)	$	197.7		$	179.3		$	175.3		$	161.0		$	172.6

Global Network & Merchant Services:
Total segment assets	$	13.6		$	12.3	*	$	11.3	*	$	11.1	*	$	12.3	*
Segment capital (B)	$	1.9		$	1.8		$	1.8		$	1.4		$	1.4
Return on average segment capital (C)		63.9	%		63.1	%		65.2	%		65.8	%		65.7	%
Return on average tangible segment capital (C)		66.7	%		64.6	%		66.8	%		67.4	%		67.4	%

Global Network Services (D):
Card billed business	$	26.9		$	23.1		$	21.6		$	20.1		$	21.4
Total cards-in-force (millions)		29.0			27.1			27.3			26.5			26.3

* Revised from prior disclosure due to the reclassification of certain intercompany accounts.

(B) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(C) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital.

(D) For non-proprietary retail co-brand partners, Global Network Services metrics exclude cardmember accounts which have no out-of-store spend activity during the prior 12 month period.

(Preliminary)

American Express Company

Components of Return on Average Equity (ROE), Return on Average Common Equity (ROCE),

and Return on Average Tangible Common Equity (ROTCE)

Appendix I

(Millions)

	For the Twelve Months Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2010			2010			2010			2010			2009

ROE

Net income	$	4,057		$	3,711		$	3,258		$	2,578		$	2,130
Average shareholders' equity	$	14,755		$	14,307		$	13,863		$	14,290		$	14,570
Return on average equity (A)		27.5	%		25.9	%		23.5	%		18.0	%		14.6	%

Reconciliation of ROCE and ROTCE

Net income	$	4,057		$	3,711		$	3,258		$	2,578		$	2,130
Preferred shares dividends and related accretion		-			-			-			234			306
Earnings allocated to participating share awards and other		51			47			42			30			22
Net income attributable to common shareholders	$	4,006		$	3,664		$	3,216		$	2,314		$	1,802

Average shareholders' equity	$	14,755		$	14,307		$	13,863		$	14,290		$	14,570
Average preferred shares		-			-			-			782			1,303
Average common shareholders' equity	$	14,755		$	14,307		$	13,863		$	13,508		$	13,267
Average goodwill and other intangibles		3,334			3,234			3,157			3,081			3,009
Average tangible common shareholders' equity	$	11,421		$	11,073		$	10,706		$	10,427		$	10,258
Return on average common equity (A)		27.2	%		25.6	%		23.2	%		17.1	%		13.6	%
Return on average tangible common equity (B)		35.1	%		33.1	%		30.0	%		22.2	%		17.6	%

(A) Return on average equity and return on average common equity are calculated by dividing one year period net income/net income attributable to common shareholders by one year average total shareholders’ equity/average common shareholders' equity, respectively.

(B) Return on average tangible common equity is computed in the same manner as return on average common equity except the computation of average tangible common shareholders' equity excludes average goodwill and other intangibles. Management believes that return on average tangible common equity is a useful measure of the profitability of its business.

(Preliminary)

American Express Company

Components of Return on Average Segment Capital (ROSC) and Return on Average Tangible Segment Capital (ROTSC)

Appendix II (A)

(Millions)

	For the Twelve Months Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2010			2010			2010			2010			2009

U.S. Card Services
Segment income	$	2,246		$	1,958		$	1,521		$	846		$	411
Average segment capital	$	6,350		$	5,966		$	5,664		$	5,367		$	5,145
Average goodwill and other intangibles		459			454			447			440			432
Average tangible segment capital	$	5,891		$	5,512		$	5,217		$	4,927		$	4,713
Return on average segment capital (B)		35.4	%		32.8	%		26.9	%		15.8	%		8.0	%
Return on average tangible segment capital (B)		38.1	%		35.5	%		29.2	%		17.2	%		8.7	%

International Card Services
Segment income	$	566		$	533		$	513		$	431		$	332
Average segment capital	$	2,136		$	2,146		$	2,174		$	2,183		$	2,205
Average goodwill and other intangibles		592			567			561			554			551
Average tangible segment capital	$	1,544		$	1,579		$	1,613		$	1,629		$	1,654
Return on average segment capital (B)		26.5	%		24.8	%		23.6	%		19.7	%		15.1	%
Return on average tangible segment capital (B)		36.7	%		33.8	%		31.8	%		26.5	%		20.1	%

Global Commercial Services
Segment income	$	474		$	468		$	411		$	361		$	350
Average segment capital	$	3,581		$	3,587		$	3,571		$	3,581		$	3,623
Average goodwill and other intangibles		1,923			1,924			1,930			1,936			1,937
Average tangible segment capital	$	1,658		$	1,663		$	1,641		$	1,645		$	1,686
Return on average segment capital (B)		13.2	%		13.0	%		11.5	%		10.1	%		9.7	%
Return on average tangible segment capital (B)		28.6	%		28.1	%		25.0	%		21.9	%		20.8	%

Global Network & Merchant Services
Segment income	$	1,063		$	995		$	984		$	954		$	937
Average segment capital	$	1,664		$	1,578		$	1,510		$	1,449		$	1,426
Average goodwill and other intangibles		70			37			36			34			36
Average tangible segment capital	$	1,594		$	1,541		$	1,474		$	1,415		$	1,390
Return on average segment capital (B)		63.9	%		63.1	%		65.2	%		65.8	%		65.7	%
Return on average tangible segment capital (B)		66.7	%		64.6	%		66.8	%		67.4	%		67.4	%

(A) Beginning in the first quarter of 2010, the Company changed the manner in which it allocates interest expense and capital to its reportable operating segments. The change reflects modifications in allocation methodology that management believes to more accurately reflect funding and capital characteristics of the Company's segments. The segment results, and accordingly, ROSC and ROTSC for periods prior to the first quarter of 2010 have been revised for this change.

(B) Return on average segment capital is calculated by dividing one year period segment income by one year average segment capital. Return on average tangible segment capital is computed in the same manner as return on average segment capital except the computation of average tangible segment capital excludes average goodwill and other intangibles. Management believes that return on average tangible segment capital is a useful measure of the profitability of its business.

(Preliminary)

American Express Company

Net Interest Yield on Cardmember Loans

Appendix III (A)

(Millions)

	Quarters Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2010			2010			2010			2010			2009

Calculation based on 2010 and 2009 GAAP information (B):
Net interest income	$	1,190		$	1,184		$	1,188		$	1,307		$	710
Average loans (billions)	$	58.5		$	57.4		$	57.5		$	59.3		$	31.8
Adjusted net interest income (C)	$	1,371		$	1,381		$	1,379		$	1,498		$	807
Adjusted average loans (billions) (D)	$	58.4		$	57.4		$	57.4		$	59.2		$	31.9
Net interest income divided by average loans (E)		8.1	%		8.2	%		8.3	%		8.9	%		8.9	%
Net interest yield on cardmember loans (F)		9.3	%		9.5	%		9.6	%		10.3	%		10.0	%

Calculation based on 2010 and 2009 managed information (G):
Net interest income (H)	$	1,190		$	1,184		$	1,188		$	1,307		$	1,381
Average loans (billions)	$	58.5		$	57.4		$	57.5		$	59.3		$	60.9
Adjusted net interest income (C)	$	1,371		$	1,381		$	1,379		$	1,498		$	1,577
Adjusted average loans (billions) (D)	$	58.4		$	57.4		$	57.4		$	59.2		$	61.0
Net interest yield on cardmember loans (F)		9.3	%		9.5	%		9.6	%		10.3	%		10.3	%

(A) Beginning in the first quarter of 2010, the Company changed the manner in which it allocates interest expense and capital to its reportable operating segments. The change reflects modifications in allocation methodology that management believes to more accurately reflect the funding and capital characteristics of the Company's segments. The change to interest allocation impacted the consolidated net interest yield on cardmember loans. Accordingly, the net interest yields for periods prior to the first quarter of 2010 have been revised for this change.

(B) For periods ended on or prior to December 31, 2009, the Company's cardmember loans and related debt performance information on a GAAP basis was referred to as the "owned" basis presentation. The information presented on a GAAP basis for such periods includes only non-securitized cardmember loans that were included in the Company’s balance sheet. Effective January 1, 2010, the Company’s securitized portfolio of cardmember loans and related debt is also consolidated on its balance sheet upon the adoption of the new GAAP. Accordingly, beginning January 1, 2010, the GAAP basis presentation includes both securitized and non-securitized cardmember loans. Refer to page 18 for a discussion of GAAP basis information.

(C) Represents net interest income allocated to the Company's cardmember loans portfolio on a GAAP or managed basis, as applicable, in each case excluding the impact of card fees on loans and balance transfer fees attributable to the Company's cardmember loans.

(D) Represents average cardmember loans on a GAAP or managed basis, as applicable, in each case excluding the impact of deferred card fees, net of deferred direct acquisition costs of cardmember loans.

(F) Net interest yield on cardmember loans is a non-GAAP financial measure that represents the net spread earned on cardmember loans. Net interest yield on cardmember loans is computed by dividing adjusted net interest income by adjusted average loans, computed on an annualized basis. The calculation of net interest yield on cardmember loans includes interest that is deemed uncollectible. For all presentations of net interest yield on cardmember loans, reserves and net write-offs related to uncollectible interest are recorded through provisions for losses - cardmember loans; therefore, such reserves and net write-offs are not included in the net interest yield calculation.

(G) For periods ended on or prior to December 31, 2009, information presented is based on the Company’s historical non-GAAP, or “managed” basis presentation. Unlike the GAAP basis presentation, the information presented on a managed basis in such periods includes both the securitized and non-securitized cardmember loans. The adoption of new GAAP on January 1, 2010 resulted in accounting for both the Company's securitized and non-securitized cardmember loans in the consolidated financial statements. As a result, the Company's 2010 GAAP presentations and managed basis presentations prior to 2010 are generally comparable. Refer to page 18 for a discussion of managed basis information.

(H) For periods ended on or prior to December 31, 2009, the information presented includes the adjustments to the GAAP "owned" basis presentation for such periods attributable to securitization activity for interest income and interest expense to arrive at the non-GAAP "managed" basis information, which adjustments are set forth under the U.S. Card Services managed basis presentation on page 21.

(Preliminary)

U. S. Card Services and International Card Services

Net Interest Yield on Cardmember Loans

Appendix IV (A)

(Millions)

	Quarters Ended
	December 31,			September 30,			June 30,			March 31,			December 31,
	2010			2010			2010			2010			2009

USCS - Calculation based on 2010 and 2009 GAAP information (B):
Net interest income	$	1,122		$	1,124		$	1,111		$	1,221		$	621
Average loans (billions)	$	49.8		$	49.1		$	49.1		$	50.5		$	22.7
Adjusted net interest income (C)	$	1,143		$	1,150		$	1,145		$	1,246		$	537
Adjusted average loans (billions) (D)	$	49.8		$	49.2		$	49.2		$	50.5		$	22.8
Net interest income divided by average loans (E)		8.9	%		9.1	%		9.1	%		9.8	%		10.9	%
Net interest yield on cardmember loans (F)		9.1	%		9.3	%		9.3	%		10.0	%		9.4	%

USCS - Calculation based on 2010 and 2009 managed information (G):
Net interest income (H)	$	1,122		$	1,124		$	1,111		$	1,221		$	1,292
Average loans (billions)	$	49.8		$	49.1		$	49.1		$	50.5		$	51.8
Adjusted net interest income (C)	$	1,143		$	1,150		$	1,145		$	1,246		$	1,308
Adjusted average loans (billions) (D)	$	49.8		$	49.2		$	49.2		$	50.5		$	51.9
Net interest yield on cardmember loans (F)		9.1	%		9.3	%		9.3	%		10.0	%		10.0	%

ICS:
Net interest income	$	228		$	237		$	243		$	257		$	271
Average loans (billions)	$	8.7		$	8.3		$	8.3		$	8.8		$	9.0
Adjusted net interest income (C)	$	228		$	231		$	234		$	253		$	269
Adjusted average loans (billions) (D)	$	8.5		$	8.2		$	8.2		$	8.8		$	9.1
Net interest income divided by average loans (E)		10.4	%		11.3	%		11.7	%		11.8	%		11.9	%
Net interest yield on cardmember loans (F)		10.6	%		11.1	%		11.4	%		11.7	%		11.7	%

(A) Beginning in the first quarter of 2010, the Company changed the manner in which it allocates capital and related interest expense to its reportable operating segments to more accurately reflect the funding and capital characteristics of its segments. The change to interest allocation impacted the segments' net interest yield on cardmember loans. Accordingly, the net interest yields for periods prior to the first quarter of 2010 have been revised for this change.