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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities    
Net income $ 1,816 $ 2,099
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Provisions for credit losses 1,055 (33)
Depreciation and amortization 400 398
Stock-based compensation 140 122
Deferred taxes (334) (69)
Other items [1] 152 (47)
Originations of loans held-for-sale (54) 0
Proceeds from sales of loans held-for-sale 59 0
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:    
Other assets (52) 323
Accounts payable & other liabilities (3,559) 1,087
Net cash (used in) provided by operating activities (377) 3,880
Cash Flows from Investing Activities    
Sale of investment securities 0 16
Maturities and redemptions of investment securities 900 767
Purchase of investments (277) (2,328)
Net increase in Card Member loans and receivables, and other loans [2] (1,603) (785)
Purchase of premises and equipment, net of sales: 2023, $1; 2022, nil (360) (447)
Acquisitions/dispositions, net of cash acquired (64) 0
Net cash used in investing activities (1,404) (2,777)
Cash Flows from Financing Activities    
Net increase in customer deposits 10,566 6,541
Net increase (decrease) in short-term borrowings [2] 239 (59)
Proceeds from long-term debt 1,498 6,231
Payments of long-term debt (3,003) (6,314)
Issuance of American Express common shares 18 49
Repurchase of American Express common shares and other (316) (1,570)
Dividends paid (405) (345)
Net cash provided by financing activities 8,597 4,533
Effect of foreign currency exchange rates on cash and cash equivalents 106 14
Net increase in cash and cash equivalents 6,922 5,650
Cash and cash equivalents at beginning of period 33,914 22,028
Cash and cash equivalents at end of period $ 40,836 $ 27,678
[1] Includes net losses on Amex Ventures investments and changes in fair value hedges.
[2] Excludes an increase of $117 million related to non-cash activity during the three months ended March 31, 2023.