American Express Files 2024 10-K

TL;DR

AXP dropped its 2024 10-K. All systems go.

AI Summary

American Express Company (AXP) filed its 2024 10-K on February 7, 2025, reporting its financial performance for the fiscal year ending December 31, 2024. The filing details the company's operations and financial position, including key metrics and disclosures required by the SEC. American Express, headquartered at 200 Vesey Street, New York, NY, operates within the finance services sector.

Why It Matters

This filing provides investors and analysts with a comprehensive overview of American Express's financial health and strategic direction for the past fiscal year, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a standard annual financial filing with no immediate red flags.

Key Numbers

• 1.667 — FY (Indicates a financial metric for the fiscal year, likely revenue or a similar scale.)

Key Players & Entities

• AMERICAN EXPRESS CO (company) — Filer
• 0000004962 (company) — Central Index Key
• 20241231 (date) — Fiscal Year End
• 20250207 (date) — Filing Date
• 2126402000 (dollar_amount) — Business Phone

FAQ

Key Financial Figures

• $0.20 — ch registered Common Shares (par value $0.20 per Share) AXP New York Stock Exchange
• $1,551 billion — merican Express cards issued by us) was $1,551 billion and as of December 31, 2024, we had 83.
• $213.9 billion — ress cards issued by third parties) was $213.9 billion and as of December 31, 2024, we had 62.

Filing Documents

• axp-20241231.htm (10-K) — 5009KB
• axp-20241231exx1019.htm (EX-10.19) — 5KB
• axp-20241231exx19.htm (EX-19) — 62KB
• axp-20241231exx21.htm (EX-21) — 166KB
• axp-20241231exx23.htm (EX-23) — 2KB
• axp-20241231exx311.htm (EX-31.1) — 8KB
• axp-20241231exx312.htm (EX-31.2) — 8KB
• axp-20241231exx321.htm (EX-32.1) — 5KB
• axp-20241231exx322.htm (EX-32.2) — 5KB
• axp-20241231_g1.jpg (GRAPHIC) — 148KB
• axp-20241231_g2.jpg (GRAPHIC) — 81KB
• axp-20241231_g3.jpg (GRAPHIC) — 92KB
• axp-20241231_g4.jpg (GRAPHIC) — 90KB
• 0000004962-25-000016.txt ( ) — 24170KB
• axp-20241231.xsd (EX-101.SCH) — 117KB
• axp-20241231_cal.xml (EX-101.CAL) — 163KB
• axp-20241231_def.xml (EX-101.DEF) — 772KB
• axp-20241231_lab.xml (EX-101.LAB) — 1372KB
• axp-20241231_pre.xml (EX-101.PRE) — 1088KB
• axp-20241231_htm.xml (XML) — 4550KB

Business

Business 1 Competition 9 Supervision and Regulation 11 Additional Information 22 1A.

Risk Factors

Risk Factors 23 1B. Unresolved Staff Comments 38 1C. Cybersecurity 38 2.

Legal Proceedings

Legal Proceedings 40 4. Mine Safety Disclosures 40 PART II 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 41 6. [Reserved] 42 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)

Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) 43 Executive Overview 43 Consolidated Results of Operations 46 Business Segment Results of Operations 52 Consolidated Capital Resources and Liquidity 64 Risk Management 73 Critical Accounting Estimates 81 Other Matters 85 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 92 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 92 Management's Report on Internal Control Over Financial Reporting 92 Report of Independent Registered Public Accounting Firm (PCAOB ID 238 ) 93 Index to Consolidated Financial Statements 96 Consolidated Financial Statements 97

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 102 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 163 9A.

Controls and Procedures

Controls and Procedures 163 9B. Other Information 163 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 163 PART III 10. Directors, Executive Officers and Corporate Governance 164 11.

Executive Compensation

Executive Compensation 164 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 164 13. Certain Relationships and Related Transactions, and Director Independence 164 14. Principal Account ant Fees and Services 165 PART IV 15. Exhibit and Financial Statement Schedules 166 16. Form 10-K Summary 171

Signatures

Signatures 172 Statistical Disclosure by Bank Holding Companies A- 1 Table of Contents This Annual Report on Form 10-K, including the "Management's Discussion and Analysis of Financial Condition and Results of Operations," contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. You can identify forward-looking statements by words such as "believe," "expect," "anticipate," "intend," "plan," "aim," "will," "may," "should," "could," "would," "likely," "estimate," "potential," "continue" or other similar expressions. We discuss certain factors that affect our business and operations and that may cause our actual results to differ materially from these forward-looking statements under "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements." You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statements. This report includes trademarks, such as American Express , which are protected under applicable intellectual property laws and are the property of American Express Company or its subsidiaries. This report also contains trademarks, service marks, copyrights and trade names of other companies, which are the property of their respective owners. Solely for convenience, our trademarks and trade names referred to in this report may appear without the or symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the right of the applicable licensor to these trademarks and trade names. Throughout this report the terms "American Express," "we," "our" or "us," refer to American Express Company and its subsidiaries on a consolidated basis, unless stated or the context implies otherwise. The use of the t

BUSINESS

ITEM 1. BUSINESS Overview American Express is a globally integrated payments company with card-issuing, merchant-acquiring and card network businesses that offer products and services to a broad range of customers, including consumers, small businesses, mid-sized companies and large corporations around the world. Our range of products and services includes: Credit card, charge card, banking and other payment and financing products Merchant acquisition and processing, servicing and settlement, fraud prevention, and point-of-sale marketing and information products and services Network services Travel and lifestyle services Expense management products and services Other services, such as the design and operation of customer loyalty programs These products and services are offered through various channels, including mobile and online applications, affiliate marketing, customer referral programs, third-party service providers and business partners, in-house sales teams, direct mail, telephone and direct response advertising. We were founded in 1850 as a joint stock association and were incorporated in 1965 as a New York corporation. American Express Company and its principal operating subsidiary, American Express Travel Related Services Company, Inc. (TRS), are bank holding companies under the Bank Holding Company Act of 1956, as amended (the BHC Act), subject to supervision and examination by The Board of Governors of the Federal Reserve System (the Federal Reserve). We principally engage in businesses comprising four reportable operating segments: U.S. Consumer Services (USCS), Commercial Services (CS), International Card Services (ICS) and Global Merchant and Network Services (GMNS). Corporate functions and certain other businesses are included in Corporate & Other. Our businesses function together to form our end-to-end integrated payments platform, which we believe is a differentiator that underpins our business model. For further information about our

View Full Filing

View this 10-K filing on SEC EDGAR