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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities      
Net income $ 8,374 $ 7,514 $ 8,060
Adjustments to reconcile net income to net cash provided by operating activities:      
Provisions for credit losses 4,923 2,182 (1,419)
Depreciation and amortization 1,651 1,626 1,695
Stock-based compensation 450 375 330
Deferred taxes (1,329) (1,189) 294
Other items [1] 664 365 (772)
Originations of loans held-for-sale (54) (277) 0
Proceeds from sales of loans held-for-sale 59 277 0
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:      
Other assets (1,244) 1,391 1,068
Accounts payable & other liabilities 5,065 8,815 5,389
Net cash provided by operating activities 18,559 21,079 14,645
Cash Flows from Investing Activities      
Sale of investments 2 26 62
Maturities and redemptions of investments 3,888 1,892 20,032
Purchase of investments (1,572) (4,175) (1,517)
Net increase in Card Member loans and receivables, and other loans [2] (25,124) (29,562) (27,557)
Purchase of premises and equipment, net of sales: 2023, $2; 2022, $1; 2021, $88 (1,563) (1,855) (1,550)
Net (Acquisitions)/dispositions, net of cash acquired (64) (15) 1
Net cash used in investing activities (24,433) (33,689) (10,529)
Cash Flows from Financing Activities      
Net increase (decrease) in customer deposits 18,915 25,902 (2,468)
Net (decrease) increase in short-term borrowings [2] (105) (706) 461
Proceeds from long-term debt 15,674 23,230 7,788
Payments of long-term debt (10,703) (18,906) (11,662)
Issuance of American Express preferred shares 0 0 1,584
Redemption of American Express preferred shares 0 0 (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 provided by (used in) financing activities 18,379 24,509 (14,933)
Effect of foreign currency exchange rates on cash and cash equivalents 177 (13) (120)
Net increase (decrease) in cash and cash equivalents 12,682 11,886 (10,937)
Cash and cash equivalents at beginning of year 33,914 22,028 32,965
Cash and cash equivalents at end of year $ 46,596 $ 33,914 $ 22,028
[1] Includes gains and losses on fair value hedges, losses on tax credit investments, net gains and losses on Amex Ventures investments and changes in equity method investments.
[2] Excludes an increase of $117 million related to non-cash activity during 2023.