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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Non-interest revenues        
Non-interest revenues $ 10,978 $ 8,934 $ 31,549 $ 24,593
Interest income        
Interest on loans 3,164 2,256 8,344 6,494
Interest and dividends on investment securities 27 18 62 66
Deposits with banks and other 183 27 287 73
Total interest income 3,374 2,301 8,693 6,633
Interest expense        
Deposits 440 109 749 356
Long-term debt and other 356 198 807 635
Total interest expense 796 307 1,556 991
Net interest income 2,578 1,994 7,137 5,642
Total revenues net of interest expense 13,556 10,928 38,686 30,235
Provisions for credit losses        
Total provisions for credit losses 778 (191) 1,155 (1,472)
Total revenues net of interest expense after provisions for credit losses 12,778 11,119 37,531 31,707
Expenses        
Card Member rewards 3,571 3,020 10,273 7,975
Business development 1,194 943 3,641 2,634
Card Member services 774 579 2,078 1,328
Marketing 1,458 1,412 4,184 3,706
Salaries and employee benefits 1,748 1,497 5,218 4,586
Other, net 1,574 1,218 4,423 3,095
Total expenses 10,319 8,669 29,817 23,324
Pretax income 2,459 2,450 7,714 8,383
Income tax provision 580 624 1,772 2,042
Net income $ 1,879 $ 1,826 $ 5,942 $ 6,341
Earnings per Common Share        
Basic (in dollars per share) $ 2.47 [1] $ 2.27 [1] $ 7.78 [2] $ 7.84 [2]
Diluted (in dollars per share) $ 2.47 [1] $ 2.27 [1] $ 7.77 [2] $ 7.82 [2]
Average common shares outstanding for earnings per common share:        
Basic (in shares) 748 786 752 796
Diluted (in shares) 749 787 753 797
Card Member Receivables        
Provisions for credit losses        
Total provisions for credit losses $ 165 $ (12) $ 383 $ (147)
Card Member Loans        
Provisions for credit losses        
Total provisions for credit losses 596 (177) 757 (1,146)
Other        
Provisions for credit losses        
Total provisions for credit losses 17 (2) 15 (179)
Discount revenue        
Non-interest revenues        
Non-interest revenues 7,848 6,369 22,556 17,414
Net card fees        
Non-interest revenues        
Non-interest revenues 1,541 1,312 4,445 3,851
Service fees and other revenue        
Non-interest revenues        
Non-interest revenues 1,169 839 3,340 2,182
Processed revenue        
Non-interest revenues        
Non-interest revenues $ 420 $ 414 $ 1,208 $ 1,146
[1] Represents net income less (i) earnings allocated to participating share awards of $14 million for both the three months ended September 30, 2022 and 2021, (ii) dividends on preferred shares of $14 million and $20 million for the three months ended September 30, 2022 and 2021, respectively, and (iii) an equity-related adjustment of $9 million related to the redemption of preferred shares for the three months ended September 30, 2021.
[2] Represents net income less (i) earnings allocated to participating share awards of $45 million for both the nine months ended September 30, 2022 and 2021, (ii) dividends on preferred shares of $43 million and $49 million for the nine months ended September 30, 2022 and 2021, respectively, and (iii) an equity-related adjustment of $9 million related to the redemption of preferred shares for the nine months ended September 30, 2021.