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v3.24.0.1

Debt (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Short-term borrowings | Our short-term borrowings outstanding, defined as borrowings with original contractual maturity dates of less than one year, as of December 31 were as follows:
|  | 2023 |  | 2022
(Millions, except percentages) |  | Outstanding Balance |  | Year-End Stated Interest Rate on Debt (a) |  | Outstanding Balance |  | Year-End Stated Interest Rate on Debt (a)
Short-term borrowings (b) |  | $ | 1,293 |  |  | 1.03 | % |  | $ | 1,348 |  |  | 0.94 | %
Total |  | $ | 1,293 |  |  | 1.03 | % |  | $ | 1,348 |  |  | 0.94 | %
(a)For floating-rate issuances, the stated interest rates are weighted based on the outstanding principal balances and interest rates in effect as of December 31, 2023 and 2022. (b)Includes borrowings from banks and book overdrafts with banks, which represents negative cash balances for accounts with an associated overdraft facility, due to timing differences arising in the ordinary course of business.
Long-term debt | Our long-term debt outstanding, defined as debt with original contractual maturity dates of one year or greater, as of December 31 was as follows:
|  | 2023 |  | 2022
(Millions, except percentages) |  | Original Contractual Maturity Dates |  | Outstanding Balance(a) |  | Year-End Interest Rate on Debt(b) |  | Year-End Interest Rate with Swaps(b)(c) |  | Outstanding Balance(a) |  | Year-End Interest Rate on Debt(b) |  | Year-End Interest Rate with Swaps(b)(c)
American Express Company (Parent Company only) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed Rate Senior Notes |  | 2024 - 2042 |  | $ | 20,930 |  |  | 3.48 | % |  | 4.14 | % |  | $ | 23,813 |  |  | 3.34 | % |  | 4.00 | %
Floating Rate Senior Notes |  | 2024 - 2027 |  | 2,400 |  |  | 6.21 |  |  | — |  |  | 3,000 |  |  | 4.78 |  |  | — |
Fixed-to-Floating Rate Senior Notes |  | 2026 - 2034 |  | 8,769 |  |  | 5.38 |  |  | 5.91 |  |  | 1,250 |  |  | 4.42 |  |  | — |
Fixed Rate Subordinated Notes |  | 2024 |  | 586 |  |  | 3.63 |  |  | 6.74 |  |  | 574 |  |  | 3.63 |  |  | 5.46 |
Fixed-to-Floating Rate Subordinated Notes |  | 2033 - 2034 |  | 1,257 |  |  | 5.24 |  |  | 5.92 |  |  | 750 |  |  | 4.99 |  |  | — |
American Express Credit Corporation |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed Rate Senior Notes |  | 2027 |  | 330 |  |  | 3.30 |  |  |  |  | 328 |  |  | 3.30 |  |  | — |
Lending Trust |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed Rate Senior Notes |  | 2024 - 2028 |  | 13,449 |  |  | 3.36 |  |  | 3.49 |  |  | 10,499 |  |  | 2.81 |  |  | — |
Floating Rate Senior Notes |  | — |  |  | — |  |  | — |  |  |  |  | 2,125 |  |  | 4.67 |  |  | — |
Floating Rate Subordinated Notes |  | — |  |  | — |  |  | — |  |  |  |  | 61 |  |  | 4.89 |  |  | — |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finance Leases |  |  |  | — |  |  | — |  |  |  |  | 3 |  |  | 5.76 |  |  | — |
Floating Rate Borrowings |  | 2024 - 2026 |  | 238 |  |  | 0.42 |  |  |  |  | 254 |  |  | 0.41 |  |  | — | %
Unamortized Underwriting Fees |  |  |  | (93) |  |  |  |  |  |  | (84) |  |  |  |  |
Total Long-Term Debt |  |  |  | $ | 47,866 |  |  | 3.96 | % |  |  |  | $ | 42,573 |  |  | 3.42 | % |  |
(a)The outstanding balances include (i) unamortized discount, (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. Refer to Note 13 for more details on our treatment of fair value hedges. (b)For floating-rate issuances, the stated interest rate on debt is weighted based on the outstanding principal balances and interest rates in effect as of December 31, 2023 and 2022. (c)Interest rates with swaps are only presented when swaps are in place to hedge the underlying debt. The interest rates with swaps are weighted based on the outstanding principal balances and the interest rates on the floating leg of the swaps in effect as of December 31, 2023 and 2022.
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, 2023 were as follows:
(Millions) |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | Thereafter |  | Total
American Express Company (Parent Company only) |  | $ | 7,500 |  |  | $ | 5,250 |  |  | $ | 6,700 |  |  | $ | 6,411 |  |  | $ | — |  |  | $ | 8,523 |  |  | $ | 34,384 |
American Express Credit Corporation |  | — |  |  | — |  |  | — |  |  | 339 |  |  | — |  |  | — |  |  | 339 |
Lending Trust |  | 2,750 |  |  | 7,250 |  |  | 2,100 |  |  | — |  |  | 1,350 |  |  | — |  |  | 13,450 |
Other |  | 105 |  |  | 63 |  |  | 70 |  |  |  |  |  |  |  |  | 238 |
|  | $ | 10,355 |  |  | $ | 12,563 |  |  | $ | 8,870 |  |  | $ | 6,750 |  |  | $ | 1,350 |  |  | $ | 8,523 |  |  | $ | 48,411 |
Unamortized Underwriting Fees |  |  |  |  |  |  |  |  |  |  |  |  |  | (93) |
Unamortized Discount and Premium |  |  |  |  |  |  |  |  |  |  |  |  |  | (505) |
Impacts due to Fair Value Hedge Accounting |  |  |  |  |  |  |  |  |  |  |  |  |  | 53 |
Total Long-Term Debt |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 47,866 |

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