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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Non-interest revenues        
Non-interest revenues $ 6,877 $ 8,786 $ 20,648 $ 25,855
Interest income        
Interest on loans 2,266 2,885 7,543 8,374
Interest and dividends on investment securities 33 53 98 138
Deposits with banks and other 25 142 155 487
Total interest income 2,324 3,080 7,796 8,999
Interest expense        
Deposits 202 401 788 1,206
Long-term debt and other 248 476 920 1,457
Total interest expense 450 877 1,708 2,663
Net interest income 1,874 2,203 6,088 6,336
Total revenues net of interest expense 8,751 10,989 26,736 32,191
Provisions for credit losses        
Card Member receivables 117 238 1,069 715
Card Member loans 571 604 3,416 1,732
Other (23) 37 356 102
Total provisions for credit losses 665 879 4,841 2,549
Total revenues net of interest expense after provisions for credit losses 8,086 10,110 21,895 29,642
Expenses        
Marketing and business development 1,822 1,821 4,889 5,172
Card Member rewards 2,004 2,614 5,745 7,717
Card Member services 259 558 923 1,671
Salaries and employee benefits 1,408 1,499 4,152 4,288
Other, net 1,229 1,352 3,748 4,351
Total expenses 6,722 7,844 19,457 23,199
Pretax income 1,364 2,266 2,438 6,443
Income tax provision 291 511 741 1,377
Net income $ 1,073 $ 1,755 $ 1,697 $ 5,066
Earnings per Common Share        
Basic (in dollars per share) $ 1.31 [1] $ 2.09 [1] $ 2.01 [2] $ 5.97 [2]
Diluted (in dollars per share) $ 1.30 [1] $ 2.08 [1] $ 2.01 [2] $ 5.95 [2]
Average common shares outstanding for earnings per common share:        
Basic (in shares) 804 825 805 833
Diluted (in shares) 805 827 806 835
Discount revenue [Member]        
Non-interest revenues        
Non-interest revenues $ 4,999 $ 6,566 $ 14,852 $ 19,338
Net card fees [Member]        
Non-interest revenues        
Non-interest revenues 1,191 1,033 3,442 2,965
Other fees and commissions [Member]        
Non-interest revenues        
Non-interest revenues 478 825 1,647 2,465
Other [Member]        
Non-interest revenues        
Non-interest revenues $ 209 $ 362 $ 707 $ 1,087
[1] Represents net income less (i) earnings allocated to participating share awards of $7 million and $11 million for the three months ended September 30, 2020 and 2019, respectively, and (ii) dividends on preferred shares of $16 million and $21 million for the three months ended September 30, 2020 and 2019, respectively.
[2] Represents net income less (i) earnings allocated to participating share awards of $10 million and $35 million for the nine months ended September 30, 2020 and 2019, respectively, and (ii) dividends on preferred shares of $65 million and $61 million for the nine months ended September 30, 2020 and 2019, respectively.