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v3.3.1.900

Debt (Tables) | 12 Months Ended
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Dec. 31, 2015
Table Text Block [Abstract] |
Short-term borrowings | The Company’s short-term borrowings outstanding, defined as borrowings with original contractual maturity dates of less than one year, as of December 31 were as follows:
|  | 2015 |  |  | 2014 |
(Millions, except percentages) |  | Outstanding Balance |  | Year-End Stated Rate on Debt | (a) |  | Outstanding Balance |  | Year-End Stated Rate on Debt | (a)
Commercial paper |  | $ | 2,120 |  | 0.38 | % |  | $ | 769 |  | 0.29 | %
Other short-term borrowings(b)(c) |  |  | 2,692 |  | 1.11 |  |  |  | 2,711 |  | 0.81 |
Total |  | $ | 4,812 |  | 0.79 | % |  | $ | 3,480 |  | 0.69 | %
For floating-rate iss uances, the stated interest rates are weighted based on the outstanding balances and floating rates in effect as of December 31, 2015 and 2014. Includes interest-bearing overdrafts with banks of $410 million and $470 million as of December 31, 2015 and 2014, respectively. In addition, balances include a partially drawn secured borrowing facility (maturing on September 15, 2017), certain book overdrafts (i.e., primarily timing differences arising in the ordin ary course of business), short-term borrowings from banks, as well as interest-bearing amounts due to merchants in accordance with merchant service agreements. The secured borrowing facility gives the Company the right to sell up to $2.0 billion fa ce amount of eligible certificates issued from the Lending Trust. The Company paid $6.7 million and $7.0 million in fees to maintain the secured borrowing facility in 2015 and 2014, respectively.
Long-term debt | The Compa ny’s long-term debt outstanding, defined as debt with original contractual maturity dates of one year or greater, as of December 31 was as follows:
|  | 2015 |  |  | 2014 |
(Millions, except percentages) |  | Original Contractual Maturity Dates |  | Outstanding Balance | (a) | Year-End Stated Rate on Debt | (b) | Year-End Effective Interest Rate with Swaps | (b)(c) | Outstanding Balance | (a) | Year-End Stated Rate on Debt | (b) | Year-End Effective Interest Rate with Swaps | (b)(c)
American Express Company |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Parent Company only) |  |  |  |  |  |  |  |
Fixed Rate Senior Notes |  | 2016-2042 |  | $ | 7,546 |  | 5.15 | % | 4.25 | % | $ | 7,535 |  | 5.15 | % | 4.20 | %
Floating Rate Senior Notes |  | 2018 |  |  | 850 |  | 0.97 |  | ― |  |  | 850 |  | 0.85 |  | ― |
Subordinated Notes(d) |  | 2024-2036 |  |  | 1,347 |  | 5.39 |  | 4.47 |  |  | 1,350 |  | 5.39 |  | 4.42 |
American Express Credit Corporation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed Rate Senior Notes |  | 2016-2020 |  |  | 16,469 |  | 2.16 |  | 1.28 |  |  | 16,260 |  | 2.26 |  | 1.22 |
Floating Rate Senior Notes |  | 2016-2020 |  |  | 5,300 |  | 0.98 |  | ― |  |  | 4,400 |  | 0.82 |  | ― |
Borrowings under Bank Credit Facilities |  | ― |  |  | ― |  | ― |  | ― |  |  | 3,672 |  | 4.25 |  | ― |
American Express Centurion Bank |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed Rate Senior Notes |  | 2017 |  |  | 1,319 |  | 5.99 |  | 4.75 |  |  | 2,089 |  | 4.12 |  | 3.32 |
Floating Rate Senior Notes |  | 2018 |  |  | 125 |  | 0.81 |  | ― |  |  | 675 |  | 0.68 |  | ― |
American Express Bank, FSB |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed Rate Senior Notes |  | 2017 |  |  | 1,000 |  | 6.00 |  | ― |  |  | 999 |  | 6.00 |  | ― |
Floating Rate Senior Notes |  | 2017 |  |  | 300 |  | 0.62 |  | ― |  |  | 300 |  | 0.46 |  | ― |
American Express Charge Trust II |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Floating Rate Senior Notes |  | 2018 |  |  | 2,200 |  | 0.67 |  | ― |  |  | 3,700 |  | 0.41 |  | ― |
Floating Rate Subordinated Notes |  | 2018 |  |  | 87 |  | 0.97 |  | ― |  |  | 87 |  | 0.80 |  | ― |
American Express Lending Trust |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed Rate Senior Notes |  | 2016-2017 |  |  | 4,000 |  | 1.35 |  | ― |  |  | 6,100 |  | 1.11 |  | ― |
Floating Rate Senior Notes |  | 2017-2019 |  |  | 7,025 |  | 0.82 |  | ― |  |  | 8,876 |  | 0.72 |  | ― |
Fixed Rate Subordinated Notes |  | ― |  |  | ― |  | ― |  | ― |  |  | 300 |  | 1.08 |  | ― |
Floating Rate Subordinated Notes |  | 2017-2019 |  |  | 316 |  | 0.97 |  | ― |  |  | 488 |  | 0.73 |  | ― |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed Rate Instruments(e) |  | 2021-2033 |  |  | 29 |  | 5.62 |  | ― |  |  | 143 |  | 3.09 |  | ― |
Floating Rate Borrowings |  | 2016-2019 |  |  | 244 |  | 0.66 |  | ― | % |  | 247 |  | 0.59 |  | ― | %
Unamortized Underwriting Fees |  |  |  |  | (96) |  |  |  |  |  |  | (116) |  |  |  |  |
Total Long-Term Debt |  |  |  | $ | 48,061 |  | 2.44 | % |  |  | $ | 57,955 |  | 2.34 | % |  |
The outstanding balances include (i) unamortized discount and premium, (ii) the impact of movements in exchange rates on foreign currency denominated debt and (iii) the impact of fair value hedge accounting on certain fixed-rate notes that have been swapped to floating rate through the use of interest rate swaps. Under fair value hedge accounting, the outstanding balances on these fixed-rate notes are adjusted to reflect the impact of changes in fair value due to changes in interest rates. Refer to No te 14 for more details on the Company’s treatment of fair value hedges. For floating-rate issuances, the stated and effective interest rates are weighted based on the outstanding balances and floating rates in effect as of December 31, 2015 and 2014. Effective interest rates are only presented when swaps are in place to hedge the underlying debt. For the $750 million of subordinated debentures issued in 2006 and outstanding as of December 31, 2015, the maturity date will automatically be extended to September 1, 2066, except in the case of either (i) a prior redemption or (ii) a default. At the Company’s option, the subordinated debentures are redeemable for cash on or after September 1, 2016, at 100 percent of the principal amounts plus an y accrued but unpaid interest. Includes $29 million and $31 million as of December 31, 2015 and 2014, respectively, related to capitalized lease transactions.
Aggregate annual maturities on long-term debt obligations | Aggregate annual maturities on long-term debt obligations (based on contractual maturity or anticipated redemption dates) as of December 31, 2015 were as follows:
(Millions) |  |  | 2016 |  |  | 2017 |  |  | 2018 |  | 2019 |  | 2020 |  | Thereafter |  | Total
American Express Company (Parent Company only)(a) |  | $ | 1,350 |  | $ | 1,500 |  | $ | 3,851 |  | $ | 641 |  | $ | ― |  | $ | 3,147 |  | $ | 10,489
American Express Credit Corporation |  |  | 4,931 |  |  | 4,900 |  |  | 3,614 |  |  | 4,150 |  |  | 4,150 |  |  | ― |  |  | 21,745
American Express Centurion Bank |  |  | ― |  |  | 1,300 |  |  | 125 |  |  | ― |  |  | ― |  |  | ― |  |  | 1,425
American Express Bank, FSB |  |  | ― |  |  | 1,300 |  |  | ― |  |  | ― |  |  | ― |  |  | ― |  |  | 1,300
American Express Charge Trust II |  |  | ― |  |  | ― |  |  | 2,287 |  |  | ― |  |  | ― |  |  | ― |  |  | 2,287
American Express Lending Trust |  |  | 500 |  |  | 6,639 |  |  | 2,885 |  |  | 1,317 |  |  | ― |  |  | ― |  |  | 11,341
Other |  |  | 33 |  |  | 83 |  |  | 124 |  |  | 4 |  |  | ― |  |  | 29 |  |  | 273
|  | $ | 6,814 |  | $ | 15,722 |  | $ | 12,886 |  | $ | 6,112 |  | $ | 4,150 |  | $ | 3,176 |  | $ | 48,860
Unamortized Underwriting Fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (96)
Unamortized Discount and Premium |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (890)
Impacts due to Fair Value Hedge Accounting |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 187
Total Long-Term Debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 48,061
The Company currently intends to exercise its redemption option related to the $750 million of Subordinated Debentures, subject to business and market conditions.

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644 + Details
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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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