Parent Company (Tables)

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Condensed statements of income and comprehensive income

PARENT COMPANY – CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

Years Ended December 31 (Millions)	2023		2022		2021
Revenues
Non-interest revenues
Other	$	407	$	388	$	343
Total non-interest revenues	407		388		343
Interest income	1,558		614		96
Interest expense	1,436		857		482
Total revenues net of interest expense	529		145		(43)
Expenses
Salaries and employee benefits	487		408		359
Other	408		372		346
Total expenses	895		780		705
Loss before income tax and equity in net income of subsidiaries	(366)		(635)		(748)
Income tax benefit	(163)		(244)		(248)
Equity in net income of subsidiaries and affiliates	8,577		7,905		8,560
Net income	$	8,374	$	7,514	$	8,060
Net unrealized pension and other postretirement benefits, net of tax	5		10		151
Other comprehensive income (loss), net	133		(275)		(201)
Comprehensive income	$	8,512	$	7,249	$	8,010

Condensed balance sheets

PARENT COMPANY – CONDENSED BALANCE SHEETS

As of December 31 (Millions)	2023		2022
Assets
Cash and cash equivalents	$	9,652	$	8,188
Equity in net assets of subsidiaries and affiliates	28,019		24,702
Loans to subsidiaries and affiliates	25,471		22,658
Due from subsidiaries and affiliates	1,261		1,342
Other assets	349		156
Total assets	64,752		57,046
Liabilities and Shareholders’ Equity
Liabilities
Accounts payable and other liabilities	2,188		2,271
Due to subsidiaries and affiliates	555		632
Long-term debt	33,952		29,432
Total liabilities	36,695		32,335
Shareholders’ Equity
Total shareholders’ equity	28,057		24,711
Total liabilities and shareholders’ equity	$	64,752	$	57,046

Condensed statements of cash flows

PARENT COMPANY – CONDENSED STATEMENTS OF CASH FLOWS

Years Ended December 31 (Millions)	2023		2022		2021
Cash Flows from Operating Activities
Net income	$	8,374	$	7,514	$	8,060
Adjustments to reconcile net income to cash provided by operating activities:
Equity in net income of subsidiaries and affiliates	(8,577)		(7,905)		(8,560)
Dividends received from subsidiaries and affiliates	5,326		5,549		9,102
Other operating activities, primarily with subsidiaries and affiliates	360		160		(305)
Net cash provided by operating activities	5,483		5,318		8,297
Cash Flows from Investing Activities
Net increase in loans to subsidiaries and affiliates	(2,836)		(4,850)		(176)
Investments in subsidiaries and affiliates	—		(1)		(60)
Net cash used in investing activities	(2,836)		(4,851)		(236)
Cash Flows from Financing Activities
Net decrease in short-term debt from subsidiaries and affiliates	—		(136)		(2,636)
Proceeds from long-term debt	9,969		13,202		3,000
Payments of long-term debt	(5,750)		(5,675)		(5,000)
Issuance of American Express preferred shares	—		—		1,584
Redemption of American Express preferred shares	—		—		(1,600)
Issuance of American Express common shares	28		56		64
Repurchase of American Express common shares and other	(3,650)		(3,502)		(7,652)
Dividends paid	(1,780)		(1,565)		(1,448)
Net cash (used in) provided by financing activities	(1,183)		2,380		(13,688)
Net increase (decrease) in cash and cash equivalents	1,464		2,847		(5,627)
Cash and cash equivalents at beginning of year	8,188		5,341		10,968
Cash and cash equivalents at end of year	$	9,652	$	8,188	$	5,341

Supplemental cash flow information
Years Ended December 31 (Millions)	2023		2022		2021
Non-Cash Investing Activities
Loans to subsidiaries and affiliates	$	—	$	—	$	(1,787)
Non-Cash Financing Activities
Proceeds from long-term debt	$	—	$	—	$	1,787