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Reportable Operating Segments and Geographic Operations
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Reportable Operating Segments and Geographic Operations
REPORTABLE OPERATING SEGMENTS AND GEOGRAPHIC OPERATIONS
REPORTABLE OPERATING SEGMENTS
We consider a combination of factors when evaluating the composition of our reportable operating segments, including the results reviewed by the chief operating decision maker, economic characteristics, products and services offered, classes of customers, product distribution channels, geographic considerations (primarily United States versus outside the United States), and regulatory environment considerations.
The following is a brief description of the primary business activities of our four reportable operating segments:
•U.S. Consumer Services (USCS), which issues a wide range of proprietary consumer cards and provides services to U.S. consumers, including travel and lifestyle services as well as banking and non-card financing products.
•Commercial Services (CS), which issues a wide range of proprietary corporate and small business cards and provides services to U.S. businesses, including payment and expense management, banking and non-card financing products. CS also issues proprietary corporate cards and provides services to select global corporate clients.
•International Card Services (ICS), which issues a wide range of proprietary consumer, small business and corporate cards outside the United States. ICS also provides services to our international customers, including travel and lifestyle services, and manages certain international joint ventures and our loyalty coalition businesses.
•Global Merchant and Network Services (GMNS), which operates a global payments network that processes and settles card transactions, acquires merchants and provides multi-channel marketing programs and capabilities, services and data analytics, leveraging our global integrated network. GMNS manages our partnership relationships with third-party card issuers (including our network partnership agreements in China), merchant acquirers and a prepaid reloadable and gift card program manager, licensing the American Express brand and extending the reach of the global network.
Corporate functions and certain other businesses and operations are included in Corporate & Other.
The following table presents certain selected financial information for our reportable operating segments and Corporate & Other as of or for the years ended December 31, 2023, 2022 and 2021:
(Millions, except where indicated)USCSCSICSGMNS
Corporate & Other (a)
Consolidated
2023
Total non-interest revenues$18,464 $12,931 $9,472 $6,620 $(106)$47,381 
Revenue from contracts with customers (b)
13,715 11,379 6,155 6,006 (37)37,218 
Interest income12,336 3,328 2,076 57 2,186 19,983 
Interest expense2,684 1,483 1,118 (719)2,283 6,849 
Total revenues net of interest expense28,116 14,776 10,430 7,396 (203)60,515 
Pretax income (loss)5,433 2,861 973 3,656 (2,410)10,513 
Total assets (billions)
$107 $55 $42 $24 $33 $261 
2022
Total non-interest revenues$16,440 $12,196 $8,262 $6,123 $(54)$42,967 
Revenue from contracts with customers (b)
12,478 10,844 5,301 5,603 (7)34,219 
Interest income8,457 2,070 1,453 23 655 12,658 
Interest expense983 697 654 (329)758 2,763 
Total revenues net of interest expense23,914 13,569 9,061 6,475 (157)52,862 
Pretax income (loss)5,400 2,880 578 2,954 (2,227)9,585 
Total assets (billions)
$94 $51 $37 $20 $26 $228 
2021
Total non-interest revenues$12,989 $9,833 $6,761 $5,021 $26 $34,630 
Revenue from contracts with customers (b)
9,823 8,659 4,368 4,694 172 27,716 
Interest income6,328 1,408 1,116 16 165 9,033 
Interest expense395 330 442 (92)208 1,283 
Total revenues net of interest expense18,922 10,911 7,435 5,129 (17)42,380 
Pretax income (loss)5,958 2,936 929 1,874 (1,008)10,689 
Total assets (billions)
$77 $45 $33 $15 $19 $189 
(a)Corporate & Other includes adjustments and eliminations for intersegment activity.
(b)Includes discount revenue, certain service fees and other revenue and processed revenues from customers.
Total Revenues Net of Interest Expense
We allocate discount revenue and certain other revenues among segments using a transfer pricing methodology. Within the USCS, CS and ICS segments, discount revenue generally reflects the issuer component of the overall discount revenue generated by each segment’s Card Members; within the GMNS segment, discount revenue generally reflects the network and acquirer component of the overall discount revenue being allocated.
Net card fees, processed revenue and certain other revenues are directly attributable to the segment in which they are reported.
Interest and fees on loans and certain investment income is directly attributable to the segment in which it is reported. Interest expense represents an allocated funding cost based on a combination of segment funding requirements and internal funding rates.
Provisions for Credit Losses
The provisions for credit losses are directly attributable to the segment in which they are reported.
Expenses
Card Member rewards and Card Member services expenses are included in each segment based on the actual expenses incurred. Business development and Marketing expenses are included in each segment based on the actual expenses incurred. Global brand advertising is primarily allocated to the segments based on the relative levels of revenue.
Salaries and employee benefits and other expenses reflect both costs incurred directly within each segment, as well as allocated expenses. The allocated expenses include service costs, which primarily reflect salaries and benefits associated with our technology and customer servicing groups, and overhead expenses. Service costs are allocated based on activities directly attributable to the segment, and overhead expenses are allocated based on the relative levels of revenue and Card Member loans and receivables.
GEOGRAPHIC OPERATIONS
The following table presents our total revenues net of interest expense and pretax income (loss) from continuing operations in different geographic regions based, in part, upon internal allocations, which necessarily involve management’s judgment.
(Millions)United States
EMEA(a)
APAC(a)
LACC(a)
Other Unallocated(b)
Consolidated
2023
Total revenues net of interest expense$47,140 $5,633 $4,372 $3,571 $(201)$60,515 
Pretax income (loss) from continuing operations10,717 854 592 760 (2,410)10,513 
2022
Total revenues net of interest expense$41,396 $4,871 $3,835 $2,917 $(157)$52,862 
Pretax income (loss) from continuing operations10,383 550 376 500 (2,224)9,585 
2021
Total revenues net of interest expense$33,103 $3,643 $3,418 $2,238 $(22)$42,380 
Pretax income (loss) from continuing operations10,325 460 420 494 (1,010)10,689 
(a)EMEA represents Europe, the Middle East and Africa; APAC represents Asia Pacific, Australia and New Zealand; and LACC represents Latin America, Canada and the Caribbean.
(b)Other Unallocated includes net costs which are not directly allocated to specific geographic regions, including costs related to the net negative interest spread on excess liquidity funding and executive office operations expenses.