Parent Company (Tables)

12 Months Ended

Dec. 31, 2024

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)	2024		2023		2022
Revenues
Non-interest revenues
Other	$	390	$	407	$	388
Total non-interest revenues	390		407		388
Interest income	1,858		1,558		614
Interest expense	1,869		1,436		857
Total revenues net of interest expense	379		529		145
Expenses
Salaries and employee benefits	474		487		408
Other	385		408		372
Total expenses	859		895		780
Loss before income tax and equity in net income of subsidiaries	(480)		(366)		(635)
Income tax benefit	(126)		(163)		(244)
Equity in net income of subsidiaries and affiliates	10,483		8,577		7,905
Net income	$	10,129	$	8,374	$	7,514
Net unrealized pension and other postretirement benefits, net of tax	41		5		10
Other comprehensive income (loss), net	(364)		133		(275)
Comprehensive income	$	9,806	$	8,512	$	7,249

Condensed balance sheets

PARENT COMPANY – CONDENSED BALANCE SHEETS

As of December 31 (Millions)	2024		2023
Assets
Cash and cash equivalents	$	7,293	$	9,652
Equity in net assets of subsidiaries and affiliates	30,165		28,019
Loans to subsidiaries and affiliates	28,897		25,471
Due from subsidiaries and affiliates	1,291		1,261
Other assets	573		349
Total assets	68,219		64,752
Liabilities and Shareholders’ Equity
Liabilities
Accounts payable and other liabilities	2,239		2,188
Due to subsidiaries and affiliates	404		555
Long-term debt	35,312		33,952
Total liabilities	37,955		36,695
Shareholders’ Equity
Total shareholders’ equity	30,264		28,057
Total liabilities and shareholders’ equity	$	68,219	$	64,752

Condensed statements of cash flows

PARENT COMPANY – CONDENSED STATEMENTS OF CASH FLOWS

Years Ended December 31 (Millions)	2024		2023		2022
Cash Flows from Operating Activities
Net income	$	10,129	$	8,374	$	7,514
Adjustments to reconcile net income to cash provided by operating activities:
Equity in net income of subsidiaries and affiliates	(10,483)		(8,577)		(7,905)
Dividends received from subsidiaries and affiliates	8,027		5,326		5,549
Other operating activities, primarily with subsidiaries and affiliates	14		360		160
Net cash provided by operating activities	7,687		5,483		5,318
Cash Flows from Investing Activities
Net increase in loans to subsidiaries and affiliates	(3,449)		(2,836)		(4,850)
Investments in subsidiaries and affiliates	(55)		—		(1)
Other investing activities	5		—		—
Net cash used in investing activities	(3,499)		(2,836)		(4,851)
Cash Flows from Financing Activities
Net decrease in short-term debt from subsidiaries and affiliates	—		—		(136)
Proceeds from long-term debt	8,872		9,969		13,202
Payments of long-term debt	(7,500)		(5,750)		(5,675)
Issuance of American Express common shares	100		28		56
Repurchase of American Express common shares and other	(6,020)		(3,650)		(3,502)
Dividends paid	(1,999)		(1,780)		(1,565)
Net cash (used in) provided by financing activities	(6,547)		(1,183)		2,380
Net (decrease) increase in cash and cash equivalents	(2,359)		1,464		2,847
Cash and cash equivalents at beginning of year	9,652		8,188		5,341
Cash and cash equivalents at end of year	$	7,293	$	9,652	$	8,188