AMERICAN EXPRESS CO
For the period ended Dec 31, 2025. Filed Feb 6, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Financial Statements
| Year Ended December 31 (Millions, except per share amounts) | 2025 | 2024 | 2023 |
|---|---|---|---|
| Revenues | |||
| Non-interest revenues | |||
| Discount revenue | $37,401 | $35,192 | $33,416 |
| Net card fees | 9,993 | 8,449 | 7,255 |
| Service fees and other revenue | 7,471 | 6,765 | 6,710 |
| Total non-interest revenues | 54,865 | 50,406 | 47,381 |
| Interest income | |||
| Interest on loans | 23,234 | 21,095 | 17,697 |
| Interest and dividends on investment securities | 63 | 86 | 128 |
| Deposits with banks and other | 2,301 | 2,614 | 2,158 |
| Total interest income | 25,598 | 23,795 | 19,983 |
| Interest expense | |||
| Deposits | 5,425 | 5,695 | 4,865 |
| Long-term debt and other | 2,809 | 2,557 | 1,984 |
| Total interest expense | 8,234 | 8,252 | 6,849 |
| Net interest income | 17,364 | 15,543 | 13,134 |
| Total revenues net of interest expense | 72,229 | 65,949 | 60,515 |
| Provisions for credit losses | |||
| Card Member receivables | 751 | 774 | 880 |
| Card Member loans | 4,067 | 4,109 | 3,839 |
| Other | 438 | 302 | 204 |
| Total provisions for credit losses | 5,256 | 5,185 | 4,923 |
| Total revenues net of interest expense after provisions for credit losses | 66,973 | 60,764 | 55,592 |
| Expenses | |||
| Card Member rewards | 18,409 | 16,599 | 15,367 |
| Business development | 6,457 | 5,886 | 5,657 |
| Card Member services | 6,057 | 4,782 | 3,968 |
| Marketing | 6,252 | 6,040 | 5,213 |
| Salaries and employee benefits | 9,016 | 8,198 | 8,067 |
| Other, net | 6,987 | 6,364 | 6,807 |
| Total expenses | 53,178 | 47,869 | 45,079 |
| Pretax income | 13,795 | 12,895 | 10,513 |
| Income tax provision | 2,962 | 2,766 | 2,139 |
| Net income | $10,833 | $10,129 | $8,374 |
| Earnings per Common Share — (Note 20)(a) | |||
| Basic | $15.41 | $14.04 | $11.23 |
| Diluted | $15.38 | $14.01 | $11.21 |
| Average common shares outstanding for earnings per common share: | |||
| Basic | 695 | 712 | 735 |
| Diluted | 696 | 713 | 736 |
(a)Represents net income less (i) earnings allocated to participating share awards of $74 million, $76 million and $64 million for the years ended December 31, 2025, 2024 and 2023, respectively, and (ii) dividends on preferred shares of $58 million for each of the years ended December 31, 2025, 2024 and 2023.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.