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Reportable Operating Segments and Geographic Operations | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Reportable Operating Segments and Geographic Operations | REPORTABLE OPERATING SEGMENTS AND GEOGRAPHIC OPERATIONS REPORTABLE OPERATING SEGMENTS We consider a combination of factors when evaluating the composition of our reportable operating segments, including the results regularly provided to our Chief Executive Officer, who is our chief operating decision maker (CODM), economic characteristics, products and services offered, classes of customers, product distribution channels, geographic considerations (primarily United States versus outside the United States), and regulatory environment considerations. The following is a brief description of the primary business activities of our four reportable operating segments: •U.S. Consumer Services (USCS), which issues a wide range of proprietary consumer cards and provides services to U.S. consumers, including travel and lifestyle services as well as banking and non-card financing products. USCS also manages our dining platform that provides digital tools for restaurants and reservation bookings for diners. •Commercial Services (CS), which issues a wide range of proprietary corporate and small business cards and provides services to U.S. businesses, including payment and expense management, banking and non-card financing products. CS also issues proprietary corporate cards and provides services to select global corporate clients. •International Card Services (ICS), which issues a wide range of proprietary consumer, small business and corporate cards outside the United States. ICS also provides services to our international customers, including travel and lifestyle services, and manages certain international joint ventures and our loyalty coalition business. •Global Merchant and Network Services (GMNS), which operates a global payments network that processes and settles card transactions, acquires merchants and provides multi-channel marketing programs and capabilities, services and data analytics, leveraging our global integrated network. GMNS manages our partnership relationships with third-party card issuers, merchant acquirers and a prepaid reloadable and gift card program manager, licensing the American Express brand and extending the reach of the global network. Corporate functions and certain other businesses and operations are included in Corporate & Other. Pretax income is used by our CODM to assess the relative performance of our operating segments and their contribution to enterprise profitability. Decisions on resource allocation by operating segment are made at the enterprise level as a function of strategic priority, operational requirements and expected return on investment of growth opportunities. The following tables present certain selected financial information for our reportable operating segments and Corporate & Other as of or for the years ended December 31, 2024, 2023 and 2022. TABLE 24.1: SELECTED FINANCIAL INFORMATION BY SEGMENT
(Millions) |  | USCS |  | CS |  | ICS |  | GMNS |  | Corporate & Other (a) |  | Consolidated
2024 |  |  |  |  |  |  |  |  |  |  |  |
Total non-interest revenues |  | $ | 20,137 |  |  | $ | 13,219 |  |  | $ | 10,369 |  |  | $ | 6,729 |  |  | $ | (48) |  |  | $ | 50,406 |
Revenue from contracts with customers (b) |  | 14,481 |  |  | 11,559 |  |  | 6,766 |  |  | 6,051 |  |  | (32) |  |  | 38,825 |
Interest income |  | 14,430 |  |  | 4,374 |  |  | 2,331 |  |  | 52 |  |  | 2,608 |  |  | 23,795 |
Interest expense |  | 3,140 |  |  | 1,734 |  |  | 1,239 |  |  | (703) |  |  | 2,842 |  |  | 8,252 |
Net interest income |  | 11,290 |  |  | 2,640 |  |  | 1,092 |  |  | 755 |  |  | (234) |  |  | 15,543 |
Total revenues net of interest expense |  | 31,427 |  |  | 15,859 |  |  | 11,461 |  |  | 7,484 |  |  | (282) |  |  | 65,949 |
Provisions for credit losses |  | 3,029 |  |  | 1,389 |  |  | 726 |  |  | 42 |  |  | (1) |  |  | 5,185 |
Total revenues net of interest expense after provisions for credit losses |  | 28,398 |  |  | 14,470 |  |  | 10,735 |  |  | 7,442 |  |  | (281) |  |  | 60,764 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Card Member rewards, business development and Card Member services (c) |  | 14,329 |  |  | 6,504 |  |  | 5,243 |  |  | 1,148 |  |  | 43 |  |  | 27,267 |
Marketing |  | 3,051 |  |  | 1,319 |  |  | 1,235 |  |  | 411 |  |  | 24 |  |  | 6,040 |
Salaries and employee benefits and other operating expenses |  | 4,641 |  |  | 3,142 |  |  | 3,226 |  |  | 1,485 |  |  | 2,068 |  |  | 14,562 |
Total expenses |  | 22,021 |  |  | 10,965 |  |  | 9,704 |  |  | 3,044 |  |  | 2,135 |  |  | 47,869 |
Pretax income (loss) |  | $ | 6,377 |  |  | $ | 3,505 |  |  | $ | 1,031 |  |  | $ | 4,398 |  |  | $ | (2,416) |  |  | $ | 12,895 |
Total assets |  | $ | 114,228 |  |  | $ | 58,969 |  |  | $ | 42,879 |  |  | $ | 17,712 |  |  | $ | 37,673 |  |  | $ | 271,461 |
(Millions) |  | USCS |  | CS |  | ICS |  | GMNS |  | Corporate & Other (a) |  | Consolidated
2023 |  |  |  |  |  |  |  |  |  |  |  |
Total non-interest revenues |  | $ | 18,464 |  |  | $ | 12,931 |  |  | $ | 9,472 |  |  | $ | 6,620 |  |  | $ | (106) |  |  | $ | 47,381 |
Revenue from contracts with customers (b) |  | 13,715 |  |  | 11,379 |  |  | 6,155 |  |  | 6,006 |  |  | (37) |  |  | 37,218 |
Interest income |  | 12,336 |  |  | 3,328 |  |  | 2,076 |  |  | 57 |  |  | 2,186 |  |  | 19,983 |
Interest expense |  | 2,684 |  |  | 1,483 |  |  | 1,118 |  |  | (719) |  |  | 2,283 |  |  | 6,849 |
Net interest income |  | 9,652 |  |  | 1,845 |  |  | 958 |  |  | 776 |  |  | (97) |  |  | 13,134 |
Total revenues net of interest expense |  | 28,116 |  |  | 14,776 |  |  | 10,430 |  |  | 7,396 |  |  | (203) |  |  | 60,515 |
Provisions for credit losses |  | 2,855 |  |  | 1,313 |  |  | 727 |  |  | 27 |  |  | 1 |  |  | 4,923 |
Total revenues net of interest expense after provisions for credit losses |  | 25,261 |  |  | 13,463 |  |  | 9,703 |  |  | 7,369 |  |  | (204) |  |  | 55,592 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Card Member rewards, business development and Card Member services (c) |  | 12,808 |  |  | 6,332 |  |  | 4,588 |  |  | 1,218 |  |  | 46 |  |  | 24,992 |
Marketing |  | 2,585 |  |  | 1,090 |  |  | 1,081 |  |  | 437 |  |  | 20 |  |  | 5,213 |
Salaries and employee benefits and other operating expenses |  | 4,435 |  |  | 3,180 |  |  | 3,061 |  |  | 2,058 |  |  | 2,140 |  |  | 14,874 |
Total expenses |  | 19,828 |  |  | 10,602 |  |  | 8,730 |  |  | 3,713 |  |  | 2,206 |  |  | 45,079 |
Pretax income (loss) |  | $ | 5,433 |  |  | $ | 2,861 |  |  | $ | 973 |  |  | $ | 3,656 |  |  | $ | (2,410) |  |  | $ | 10,513 |
Total assets |  | $ | 107,158 |  |  | $ | 55,361 |  |  | $ | 42,234 |  |  | $ | 23,714 |  |  | $ | 32,641 |  |  | $ | 261,108 |
(Millions) |  | USCS |  | CS |  | ICS |  | GMNS |  | Corporate & Other (a) |  | Consolidated
2022 |  |  |  |  |  |  |  |  |  |  |  |
Total non-interest revenues |  | $ | 16,440 |  |  | $ | 12,196 |  |  | $ | 8,262 |  |  | $ | 6,123 |  |  | $ | (54) |  |  | $ | 42,967 |
Revenue from contracts with customers (b) |  | 12,478 |  |  | 10,844 |  |  | 5,301 |  |  | 5,603 |  |  | (7) |  |  | 34,219 |
Interest income |  | 8,457 |  |  | 2,070 |  |  | 1,453 |  |  | 23 |  |  | 655 |  |  | 12,658 |
Interest expense |  | 983 |  |  | 697 |  |  | 654 |  |  | (329) |  |  | 758 |  |  | 2,763 |
Net interest income |  | 7,474 |  |  | 1,373 |  |  | 799 |  |  | 352 |  |  | (103) |  |  | 9,895 |
Total revenues net of interest expense |  | 23,914 |  |  | 13,569 |  |  | 9,061 |  |  | 6,475 |  |  | (157) |  |  | 52,862 |
Provisions for credit losses |  | 1,021 |  |  | 565 |  |  | 584 |  |  | 7 |  |  | 5 |  |  | 2,182 |
Total revenues net of interest expense after provisions for credit losses |  | 22,893 |  |  | 13,004 |  |  | 8,477 |  |  | 6,468 |  |  | (162) |  |  | 50,680 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Card Member rewards, business development and Card Member services (c) |  | 10,791 |  |  | 6,116 |  |  | 3,816 |  |  | 1,192 |  |  | (11) |  |  | 21,904 |
Marketing |  | 2,744 |  |  | 1,122 |  |  | 1,146 |  |  | 419 |  |  | 27 |  |  | 5,458 |
Salaries and employee benefits and other operating expenses |  | 3,958 |  |  | 2,886 |  |  | 2,937 |  |  | 1,903 |  |  | 2,049 |  |  | 13,733 |
Total expenses |  | 17,493 |  |  | 10,124 |  |  | 7,899 |  |  | 3,514 |  |  | 2,065 |  |  | 41,095 |
Pretax income (loss) |  | $ | 5,400 |  |  | $ | 2,880 |  |  | $ | 578 |  |  | $ | 2,954 |  |  | $ | (2,227) |  |  | $ | 9,585 |
Total assets |  | $ | 94,444 |  |  | $ | 51,411 |  |  | $ | 36,891 |  |  | $ | 20,005 |  |  | $ | 25,603 |  |  | $ | 228,354 |
(a)Corporate & Other includes adjustments and eliminations for intersegment activity. (b)Includes discount revenue, certain service fees and other revenue and processed revenues from customers. (c)Card Member rewards, business development and Card Member services expenses are generally correlated to volumes or are variable based on usage. Total Revenues Net of Interest Expense We allocate discount revenue and certain other revenues among segments using a transfer pricing methodology. Within the USCS, CS and ICS segments, discount revenue generally reflects the issuer component of the overall discount revenue generated by each segment’s Card Members; within the GMNS segment, discount revenue generally reflects the network and acquirer component of the overall discount revenue being allocated. Net card fees, processed revenue and certain other revenues are directly attributable to the segment in which they are reported. Interest and fees on loans and certain investment income is directly attributable to the segment in which it is reported. Interest expense represents an allocated funding cost based on a combination of segment funding requirements and internal funding rates. Provisions for Credit Losses The provisions for credit losses are directly attributable to the segment in which they are reported. Expenses Card Member rewards, Business development and Card Member services expenses, as well as Marketing expenses, are generally included in each segment based on the actual expenses incurred. Global brand advertising, a component of Marketing expense, is primarily allocated to the segments based on the relative levels of revenue. Salaries and employee benefits and other operating expenses reflect both costs incurred directly within each segment, as well as allocated expenses. The allocated expenses include service costs, which primarily reflect salaries and benefits associated with our technology and customer servicing groups, and overhead expenses. Service costs are allocated based on activities directly attributable to the segment, and overhead expenses are allocated based on the relative levels of revenue and Card Member loans and receivables. GEOGRAPHIC OPERATIONS The following table presents our total revenues net of interest expense and pretax income (loss) from continuing operations in different geographic regions based, in part, upon internal allocations, which necessarily involve management’s judgment. TABLE 24.2: SUMMARY OF TOTAL REVENUE AND PRETAX INCOME BY REGION
(Millions) |  | United States |  | EMEA(a) |  | APAC(a) |  | LACC(a) |  | Other Unallocated(b) |  | Consolidated
2024 |  |  |  |  |  |  |  |  |  |  |  |
Total revenues net of interest expense |  | $ | 51,471 |  |  | $ | 6,216 |  |  | $ | 4,698 |  |  | $ | 3,845 |  |  | $ | (281) |  |  | $ | 65,949 |
Pretax income (loss) from continuing operations |  | 12,919 |  |  | 935 |  |  | 656 |  |  | 803 |  |  | (2,418) |  |  | 12,895 |
2023 |  |  |  |  |  |  |  |  |  |  |  |
Total revenues net of interest expense |  | $ | 47,140 |  |  | $ | 5,633 |  |  | $ | 4,372 |  |  | $ | 3,571 |  |  | $ | (201) |  |  | $ | 60,515 |
Pretax income (loss) from continuing operations |  | 10,717 |  |  | 854 |  |  | 592 |  |  | 760 |  |  | (2,410) |  |  | 10,513 |
2022 |  |  |  |  |  |  |  |  |  |  |  |
Total revenues net of interest expense |  | $ | 41,396 |  |  | $ | 4,871 |  |  | $ | 3,835 |  |  | $ | 2,917 |  |  | $ | (157) |  |  | $ | 52,862 |
Pretax income (loss) from continuing operations |  | 10,383 |  |  | 550 |  |  | 376 |  |  | 500 |  |  | (2,224) |  |  | 9,585 |
(a)EMEA represents Europe, the Middle East and Africa; APAC represents Asia Pacific, Australia and New Zealand; and LACC represents Latin America, Canada and the Caribbean. (b)Other Unallocated includes net costs which are not directly allocated to specific geographic regions, including costs related to the net negative interest spread on excess liquidity funding and executive office operations expenses.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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