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Debt (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Short-term borrowings
Our short-term borrowings outstanding, defined as borrowings with original contractual maturity dates of less than one year, as of December 31 were as follows:
20212020
(Millions, except percentages)Outstanding Balance
Year-End Stated
Interest Rate on
Debt (a)
Outstanding Balance
Year-End Stated
Interest Rate on
Debt (a)
Commercial paper (b)
$— — %$— — %
Other short-term borrowings (c)
2,243 0.58 1,878 0.61 
Total$2,243 0.58 %$1,878 0.61 %
(a)For floating-rate issuances, the stated interest rates are weighted based on the outstanding principal balances and interest rates in effect as of December 31, 2021 and 2020.
(b)Average commercial paper outstanding was nil and $628 million in 2021 and 2020, respectively.
(c)Includes borrowings from banks and book overdrafts with banks due to timing differences arising in the ordinary course of business.
Long-term debt
Our long-term debt outstanding, defined as debt with original contractual maturity dates of one year or greater, as of December 31 was as follows:
20212020
(Millions, except percentages)Original
Contractual
Maturity
Dates
Outstanding
Balance(a)
Year-End
Interest Rate
on Debt(b)
Year-End
Interest Rate with
Swaps(b)(c)
Outstanding
Balance(a)
Year-End
Interest Rate
on Debt(b)
Year-End
Interest Rate
with
Swaps(b)(c)
American Express Company
(Parent Company only)
Fixed Rate Senior Notes2022 - 2042$18,324 3.02 %2.03 %$18,251 3.25 %2.09 %
Floating Rate Senior Notes2022 - 20263,300 0.69 — 4,000 0.84 — 
Fixed Rate Subordinated Notes2024599 3.63 1.38 599 3.63 1.43 
American Express Credit Corporation
Fixed Rate Senior Notes2022 - 20272,078 2.80 1.32 6,746 2.38 1.67 
Floating Rate Senior Notes2022300 0.87 — 300 0.93 — 
Lending Trust
Fixed Rate Senior Notes2022 - 20248,199 2.01 1.82 8,325 2.74 2.55 
Floating Rate Senior Notes2022 - 20233,325 0.49 — 4,125 0.51 — 
Fixed Rate Subordinated Notes2022212 2.72 — 246 2.80 — 
Floating Rate Subordinated Notes2022 - 202379 0.68 — 79 0.73 — 
Charge Trust
Floating Rate Conduit Borrowings20242,000 0.40 — — — — 
Other
Finance Leases2024 - 203314 5.49 — 17 5.54 — 
Floating Rate Borrowings2022 - 2024297 0.42 — %328 0.42 — %
Unamortized Underwriting Fees(52)(64)
Total Long-Term Debt$38,675 2.22 %$42,952 2.49 %
(a)The outstanding balances include (i) unamortized discount, (ii) the impact of movements in exchange rates on foreign currency denominated debt and (iii) the impact of fair value hedge accounting on certain fixed-rate notes that have been swapped to floating rate through the use of interest rate swaps. Refer to Note 13 for more details on our treatment of fair value hedges.
(b)For floating-rate issuances, the stated interest rate on debt is weighted based on the outstanding principal balances and interest rates in effect as of December 31, 2021 and 2020.
(c)Interest rates with swaps are only presented when swaps are in place to hedge the underlying debt. The interest rates with swaps are weighted based on the outstanding principal balances and the interest rates on the floating leg of the swaps in effect as of December 31, 2021 and 2020.
Aggregate annual maturities on long-term debt obligations
Aggregate annual maturities on long-term debt obligations (based on contractual maturity or anticipated redemption dates) as of December 31, 2021 were as follows:
(Millions)20222023202420252026ThereafterTotal
American Express Company (Parent Company only)$5,675 $5,750 $5,000 $750 $2,450 $2,933 $22,558 
American Express Credit Corporation2,050 — — — — 339 2,389 
Lending Trust6,381 2,685 2,750 — — — 11,816 
Charge Trust— — 2,000 — — — 2,000 
Other77 88 136 — — 10 311 
$14,183 $8,523 $9,886 $750 $2,450 $3,282 $39,074 
Unamortized Underwriting Fees(52)
Unamortized Discount and Premium(584)
Impacts due to Fair Value Hedge Accounting237 
Total Long-Term Debt$38,675