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Debt | 12 Months Ended
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Dec. 31, 2016
Disclosure Text Block Abstract |
Debt Disclosure [Text Block] | NOTE 9 Debt 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:
|  | 2016 |  |  | 2015 |
(Millions, except percentages) |  | Outstanding Balance |  | Year-End Stated Rate on Debt | (a) |  | Outstanding Balance |  | Year-End Stated Rate on Debt | (a)
Commercial paper(b) |  | $ | 2,993 |  | 1.13 | % |  | $ | 2,120 |  | 0.38 | %
Other short-term borrowings(c) |  |  | 2,588 |  | 1.28 |  |  |  | 2,692 |  | 1.11 |
Total |  | $ | 5,581 |  | 1.20 | % |  | $ | 4,812 |  | 0.79 | %
For floating-rate issuances, the stated interest rates are weighted based on the outstanding balances and rates in effect as of December 31, 2016 and 2015. Average commercial paper outstanding was $491 million and $943 million in 2016 and 2015, respectively. Includes interest-bearing overdrafts with banks of $369 million and $410 million as of December 31, 2016 and 2015, respectively. In addition, balances include certain book overdrafts (i.e., primarily timin g differences arising in the ordinary course of business), short-term borrowings from banks, as well as interest-bearing amounts due to merchants in accordance with merchant service agreements. The Company maintained a 2-year committed, revolving, secured borrowing facility that gives the Company the right to sell up to $2.0 billion face amount of eligible certificates issued from the Lending Trust at any time through September 17, 2018. As of December 31, 2016 the Company had nil o utstanding under this fa cility. As of December 31, 2015, the Company had $100 million drawn on this facility with an original contractual maturity of less than 1-year. The Company paid $8.6 million and $6.7 million in fees to maintain the secured borrowing facility in 2016 and 2 015, respectively. The committed facility do es not contain a material adverse change clause, which might otherwise preclude borrowing under the facilit y, nor is it dependent on the Company’s credit rating. Long-term Debt The Company’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:
|  | 2016 |  |  | 2015 |
(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 |  | 2017-2042 |  | $ | 6,932 | 5.13 | % | 4.24 | % | $ | 7,546 |  | 5.15 % | 4.25 | %
Floating Rate Senior Notes |  | 2018 |  |  | 850 | 1.51 |  | ― |  |  | 850 |  | 0.97 | ― |
Subordinated Notes |  | 2024 |  |  | 598 | 3.63 |  | 1.92 |  |  | 1,347 |  | 5.39 | 4.47 |
American Express Credit Corporation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed Rate Senior Notes |  | 2017-2021 |  |  | 16,201 | 1.98 |  | 1.44 |  |  | 16,469 |  | 2.16 | 1.28 |
Floating Rate Senior Notes |  | 2017-2020 |  |  | 4,350 | 1.52 |  | ― |  |  | 5,300 |  | 0.98 | ― |
American Express Centurion Bank |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed Rate Senior Notes |  | 2017 |  |  | 1,306 | 5.99 |  | 4.83 |  |  | 1,319 |  | 5.99 | 4.75 |
Floating Rate Senior Notes |  | 2018 |  |  | 125 | 1.26 |  | ― |  |  | 125 |  | 0.81 | ― |
American Express Bank, FSB |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed Rate Senior Notes |  | 2017 |  |  | 1,000 | 6.00 |  | ― |  |  | 1,000 |  | 6.00 | ― |
Floating Rate Senior Notes |  | 2017 |  |  | 300 | 0.96 |  | ― |  |  | 300 |  | 0.62 | ― |
American Express Lending Trust |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed Rate Senior Notes |  | 2017 |  |  | 3,500 | 1.41 |  | ― |  |  | 4,000 |  | 1.35 | ― |
Floating Rate Senior Notes |  | 2017-2019 |  |  | 7,025 | 1.20 |  | ― |  |  | 7,025 |  | 0.82 | ― |
Floating Rate Subordinated Notes |  | 2017-2019 |  |  | 316 | 1.34 |  | ― |  |  | 316 |  | 0.97 | ― |
American Express Charge Trust II |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Floating Rate Senior Notes |  | 2018 |  |  | 4,200 | 1.12 |  | ― |  |  | 2,200 |  | 0.67 | ― |
Floating Rate Subordinated Notes |  | 2018 |  |  | 87 | 1.34 |  | ― |  |  | 87 |  | 0.97 | ― |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed Rate Instruments(d) |  | 2021-2033 |  |  | 24 | 5.62 |  | ― |  |  | 29 |  | 5.62 | ― |
Floating Rate Borrowings |  | 2017-2019 |  |  | 247 | 0.44 |  | ― | % |  | 244 |  | 0.66 | ― | %
Unamortized Underwriting Fees |  |  |  |  | (71) |  |  |  |  |  | (96) |  |  |  |
Total Long-Term Debt |  |  |  | $ | 46,990 | 2.39 | % |  |  | $ | 48,061 |  | 2.44 % |  |
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 rates in effect as of De cember 31, 2016 and 2015. Effectiv e interest rates are only presented when swaps are in plac e to hedge the underlying debt. Includes $24 million and $29 million as of December 31, 2016 and 2015, respectively, related to capitalized lease transactions. As of December 31, 2015, the Company had $750 million principal outstanding of Subordinated Debentures that accrued interest at an annual rate of 6.8 percent. At the Company’s option, these Subordinated Debentures were redeemed for cash on September 1, 2016 at 100 percent of the principal amount. A ggregate annual maturities on long-term debt obligations (based on contractual maturity or anticipated redemption dates) as of December 31, 2016 were as follows:
(Millions) |  |  | 2017 |  |  | 2018 |  |  | 2019 |  | 2020 |  | 2021 |  | Thereafter |  | Total
American Express Company (Parent Company only) |  | $ | 1,500 |  | $ | 3,850 |  | $ | 641 |  | $ | ― |  | $ | ― |  | $ | 3,147 |  | $ | 9,138
American Express Credit Corporation |  |  | 4,900 |  |  | 3,624 |  |  | 5,150 |  |  | 4,150 |  |  | 2,794 |  |  | ― |  |  | 20,618
American Express Centurion Bank |  |  | 1,300 |  |  | 125 |  |  | ― |  |  | ― |  |  | ― |  |  | ― |  |  | 1,425
American Express Bank, FSB |  |  | 1,300 |  |  | ― |  |  | ― |  |  | ― |  |  | ― |  |  | ― |  |  | 1,300
American Express Lending Trust |  |  | 6,639 |  |  | 2,886 |  |  | 1,317 |  |  | ― |  |  | ― |  |  | ― |  |  | 10,842
American Express Charge Trust II |  |  | ― |  |  | 4,287 |  |  | ― |  |  | ― |  |  | ― |  |  | ― |  |  | 4,287
Other |  |  | 85 |  |  | 127 |  |  | 35 |  |  | ― |  |  | 13 |  |  | 11 |  |  | 271
|  | $ | 15,724 |  | $ | 14,899 |  | $ | 7,143 |  | $ | 4,150 |  | $ | 2,807 |  | $ | 3,158 |  | $ | 47,881
Unamortized Underwriting Fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (71)
Unamortized Discount and Premium |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (844)
Impacts due to Fair Value Hedge Accounting |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 24
Total Long-Term Debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 46,990
T he Company maintained a $3.0 billion bank line of credit, with $3.0 billion undrawn as of December 31, 2016 and 2015. These undrawn amounts support contingent funding needs. The availability of the credit line is subject to the Company’s compliance with certain financial covenants, principally the maintenance by American Express Credit Corporation (Credco) of a 1.25 ratio of combined earnings and fixed charges, to fixed charges. As of December 31, 2016 and 2015, the Company was not in violation of any of its debt covenants. Additionally, the Company maintained a 3-year committed, revolving, secured borrowing facility that gives the Compan y the right to sell up to $3.0 billion face amount of eligible notes issued from the Charge T rust at any time through July 16, 2018. As of December 31, 2016 and 2015, $3.0 billion and $1.0 billion, respectively, were draw n on this facility. The Company paid $11.5 million and $35.1 million in fees to maintain these lines in 2016 and 2015, respectively. These committed facilities do not contain material adverse change clauses, which might otherwise preclude borrowing under the credit facilities, nor are they dependent on the Company’s credit rating. The Company paid total interest, primarily related to short- and long-term debt, corresponding interest rate swaps and customer deposits, of $1.7 billion, $1.6 billion and $1.7 billion in 2016, 2015 and 2014, respectively.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: 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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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