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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Non-interest revenues        
Non-interest revenues $ 5,791 $ 8,764 $ 13,771 $ 17,069
Interest income        
Interest on loans 2,368 2,764 5,277 5,489
Interest and dividends on investment securities 27 52 65 85
Deposits with banks and other 31 149 130 345
Total interest income 2,426 2,965 5,472 5,919
Interest expense        
Deposits 260 406 586 805
Long-term debt and other 282 485 672 981
Total interest expense 542 891 1,258 1,786
Net interest income 1,884 2,074 4,214 4,133
Total revenues net of interest expense 7,675 10,838 17,985 21,202
Provisions for credit losses        
Card Member receivables 355 224 952 477
Card Member loans 969 603 2,845 1,128
Other 231 34 379 65
Total provisions for credit losses 1,555 861 4,176 1,670
Total revenues net of interest expense after provisions for credit losses 6,120 9,977 13,809 19,532
Expenses        
Marketing and business development 1,362 1,776 3,067 3,351
Card Member rewards 1,349 2,652 3,741 5,103
Card Member services 208 563 664 1,113
Salaries and employee benefits 1,349 1,367 2,744 2,789
Other, net 1,230 1,400 2,519 2,999
Total expenses 5,498 7,758 12,735 15,355
Pretax income 622 2,219 1,074 4,177
Income tax provision 365 458 450 866
Net income $ 257 $ 1,761 $ 624 $ 3,311
Earnings per Common Share        
Basic (in dollars per share) $ 0.29 [1] $ 2.07 [1] $ 0.71 [2] $ 3.88 [2]
Diluted (in dollars per share) $ 0.29 [1] $ 2.07 [1] $ 0.71 [2] $ 3.87 [2]
Average common shares outstanding for earnings per common share:        
Basic (in shares) 804 834 806 837
Diluted (in shares) 805 836 807 839
Discount revenue [Member]        
Non-interest revenues        
Non-interest revenues $ 4,015 $ 6,577 $ 9,853 $ 12,772
Net card fees [Member]        
Non-interest revenues        
Non-interest revenues 1,141 988 2,251 1,932
Other fees and commissions [Member]        
Non-interest revenues        
Non-interest revenues 449 837 1,169 1,640
Other [Member]        
Non-interest revenues        
Non-interest revenues $ 186 $ 362 $ 498 $ 725
[1] Represents net income less (i) earnings allocated to participating share awards of $2 million and $13 million for the three months ended June 30, 2020 and 2019, respectively, and (ii) dividends on preferred shares of $17 million and $19 million for the three months ended June 30, 2020 and 2019, respectively.
[2] Represents net income less (i) earnings allocated to participating share awards of $4 million and $24 million for the six months ended June 30, 2020 and 2019, respectively, and (ii) dividends on preferred shares of $49 million and $40 million for the six months ended June 30, 2020 and 2019, respectively.