American Express 8K Results of Operations and Financial Condition | AXP 29 Jul 14

Exhibit 99.2

All information in the following tables is presented on a basis prepared in accordance with U.S. generally accepted accounting principles (GAAP), unless otherwise indicated. Certain reclassifications of prior period amounts have been made to conform to the current period presentation.

(Preliminary)

American Express Company

Consolidated Statements of Income

(Millions)

	Quarters Ended June 30,						Percentage			Six Months Ended June 30,						Percentage
	2014			2013			Inc/(Dec)			2014			2013			Inc/(Dec)

Revenues
Non-interest revenues
Discount revenue	$	4,945		$	4,729			5	%	$	9,591		$	9,167			5	%
Net card fees		687			647			6			1,361			1,300			5
Travel commissions and fees		500			495			1			923			932			(1	)
Other commissions and fees		624			605			3			1,242			1,178			5
Other		585			567			3			1,086			1,104			(2	)
Total non-interest revenues		7,341			7,043			4			14,203			13,681			4
Interest income
Interest on loans		1,696			1,622			5			3,407			3,305			3
Interest and dividends on investment securities		45			52			(13	)		91			105			(13	)
Deposits with banks and other		18			20			(10	)		37			46			(20	)
Total interest income		1,759			1,694			4			3,535			3,456			2
Interest expense
Deposits		91			107			(15	)		185			221			(16	)
Long-term debt and other		352			385			(9	)		697			790			(12	)
Total interest expense		443			492			(10	)		882			1,011			(13	)
Net interest income		1,316			1,202			9			2,653			2,445			9
Total revenues net of interest expense		8,657			8,245			5			16,856			16,126			5
Provisions for losses
Charge card		183			161			14			398			315			26
Card Member loans		282			334			(16	)		532			577			(8	)
Other		24			23			4			44			42			5
Total provisions for losses		489			518			(6	)		974			934			4
Total revenues net of interest expense after provisions for losses		8,168			7,727			6			15,882			15,192			5

Expenses
Marketing and promotion		985			786			25			1,598			1,407			14
Card Member rewards		1,773			1,601			11			3,355			3,121			7
Card Member services and other		192			193			(1	)		414			382			8
Salaries and employee benefits		1,658			1,543			7			3,198			3,158			1
Professional services		817			763			7			1,509			1,479			2
Occupancy and equipment		467			460			2			929			932			-
Communications		101			92			10			194			188			3
Other, net		(137	)		294			#			165			621			(73	)
Total		5,856			5,732			2			11,362			11,288			1
Pretax income		2,312			1,995			16			4,520			3,904			16
Income tax provision		783			590			33			1,559			1,219			28
Net income	$	1,529		$	1,405			9		$	2,961		$	2,685			10
Net income attributable to common shareholders (A)	$	1,517		$	1,392			9		$	2,937		$	2,661			10
Effective tax rate		33.9	%		29.6	%					34.5	%		31.2	%

# - Denotes a variance of more than 100 percent.

(A) Represents net income, less earnings allocated to participating share awards of $12 million and $13 million for the three months ended June 30, 2014 and 2013, respectively, and $24 million for both the six months ended June 30, 2013 and 2012, respectively.

-1-

(Preliminary)

American Express Company

Condensed Consolidated Balance Sheets

(Billions)

	June 30, 2014		December 31, 2013

Assets
Cash & cash equivalents	$	18	$	19
Accounts receivable		49		47
Investment securities		5		5
Loans		66		67
Other assets		14		15
Total assets	$	152	$	153

Liabilities and Shareholders' Equity
Customer deposits	$	42	$	42
Short-term borrowings		3		5
Long-term debt		55		55
Other liabilities		32		32
Total liabilities		132		134

Shareholders' Equity		20		19
Total liabilities and shareholders' equity	$	152	$	153

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(Preliminary)

American Express Company

Financial Summary

(Millions)

	Quarters Ended June 30,						Percentage			Six Months Ended June 30,						Percentage
	2014			2013			Inc/(Dec)			2014			2013			Inc/(Dec)

Total revenues net of interest expense
U.S. Card Services	$	4,477		$	4,239			6	%	$	8,767		$	8,321			5	%
International Card Services		1,391			1,299			7			2,743			2,616			5
Global Commercial Services		1,269			1,231			3			2,463			2,394			3
Global Network & Merchant Services		1,455			1,384			5			2,820			2,687			5
		8,592			8,153			5			16,793			16,018			5
Corporate & Other		65			92			(29	)		63			108			(42	)

CONSOLIDATED TOTAL REVENUES NET OF INTEREST EXPENSE	$	8,657		$	8,245			5		$	16,856		$	16,126			5

Pretax income (loss)
U.S. Card Services	$	1,200		$	1,175			2		$	2,606		$	2,445			7
International Card Services		69			156			(56	)		272			349			(22	)
Global Commercial Services		865			333			#			1,150			616			87
Global Network & Merchant Services		578			647			(11	)		1,280			1,229			4
		2,712			2,311			17			5,308			4,639			14
Corporate & Other		(400	)		(316	)		27			(788	)		(735	)		7

PRETAX INCOME	$	2,312		$	1,995			16		$	4,520		$	3,904			16

Net income (loss)
U.S. Card Services	$	770		$	743			4		$	1,646		$	1,547			6
International Card Services		77			208			(63	)		236			386			(39	)
Global Commercial Services		561			226			#			745			417			79
Global Network & Merchant Services		373			412			(9	)		816			785			4
		1,781			1,589			12			3,443			3,135			10
Corporate & Other		(252	)		(184	)		37			(482	)		(450	)		7

NET INCOME	$	1,529		$	1,405			9		$	2,961		$	2,685			10

# - Denotes a variance of more than 100 percent.

-3-

(Preliminary)

American Express Company

Financial Summary (continued)

	Quarters Ended June 30,				Percentage			Six Months Ended June 30,				Percentage
	2014		2013		Inc/(Dec)			2014		2013		Inc/(Dec)
EARNINGS PER COMMON SHARE

BASIC
Net income attributable to common shareholders	$	1.44	$	1.28		13		$	2.78	$	2.43		14	%

Average common shares outstanding (millions)		1,052		1,090		(3	)%		1,056		1,094		(3	)%

DILUTED
Net income attributable to common shareholders	$	1.43	$	1.27		13		$	2.77	$	2.42		14	%

Average common shares outstanding (millions)		1,058		1,097		(4	)%		1,062		1,101		(4	)%

Cash dividends declared per common share	$	0.26	$	0.23		13	%	$	0.49	$	0.43		14	%

Selected Statistical Information

	Quarters Ended June 30,						Percentage			Six Months Ended June 30,						Percentage
	2014			2013			Inc/(Dec)			2014			2013			Inc/(Dec)

Return on average equity (A)		28.8	%		23.6	%					28.8	%		23.6	%
Return on average common equity (A)		28.5	%		23.4	%					28.5	%		23.4	%
Return on average tangible common equity (A)		35.8	%		29.7	%					35.8	%		29.7	%
Common shares outstanding (millions)		1,046			1,084			(3	)%		1,046			1,084			(3	)%
Book value per common share	$	19.32		$	17.57			10	%	$	19.32		$	17.57			10	%
Shareholders' equity (billions)	$	20.2		$	19.0			6	%	$	20.2		$	19.0			6	%

# - Denotes a variance of more than 100 percent.

(A) Refer to Appendix I for components of return on average equity, return on average common equity and return on average tangible common equity, a non-GAAP measure.

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(Preliminary)

American Express Company

Selected Statistical Information

(Millions, except percentages and where indicated)

	Quarters Ended June 30,						Percentage
	2014			2013			Inc/(Dec)
Card billed business (billions) (A):
United States	$	173.4		$	159.7			9	%
Outside the United States		84.7			78.0			9
Total	$	258.1		$	237.7			9
Total cards-in-force (B):
United States		54.1			52.5			3	%
Outside the United States		55.8			51.8			8
Total		109.9			104.3			5
Basic cards-in-force (B):
United States		42.0			40.7			3	%
Outside the United States		45.6			41.8			9
Total		87.6			82.5			6

Average discount rate (C)		2.48	%		2.52	%
Average basic Card Member spending (dollars) (D)	$	4,288		$	4,097			5	%
Average fee per card (dollars) (D)	$	41		$	40			3
Average fee per card adjusted (dollars) (D)	$	45		$	44			2

(A) Card billed business includes activities (including cash advances) related to proprietary cards, cards issued under network partnership agreements (non-proprietary billed business), and certain insurance fees charged on proprietary cards. In-store spend activity within retail co-brand portfolios in Global Network Services, from which the Company earns no revenue, is not included in non-proprietary billed business. Card billed business is reflected in the United States or outside the United States based on where the issuer is located.

(B) Total cards-in-force represents the number of cards that are issued and outstanding. Proprietary basic consumer cards-in-force includes basic cards issued to the primary account owner and does not include additional supplemental cards issued on that account. Proprietary basic small business and corporate cards-in-force include basic and supplemental cards issued to employee Card Members. Non-proprietary cards-in-force includes all cards that are issued and outstanding under network partnership agreements, except for retail co-brand Card Member accounts that have no out-of-store spend activity during the prior 12 month period.

(C) This calculation is designed to reflect pricing at merchants accepting general purpose American Express cards. It represents the percentage of billed business (both proprietary and Global Network Services) retained by the Company from merchants it acquires, prior to payments to third parties unrelated to merchant acceptance.

(D) Average basic Card Member spending and average fee per card are computed from proprietary card activities only. Average fee per card is computed based on net card fees, including the amortization of deferred direct acquisition costs divided by average worldwide proprietary cards-in-force. The adjusted average fee per card, which is a non-GAAP measure, is computed in the same manner, but excludes amortization of deferred direct acquisition costs. The amount of amortization excluded was $77 million and $66 million for the quarters ended June 30, 2014 and 2013, respectively. The Company presents adjusted average fee per card because the Company believes this metric presents a useful indicator of card fees pricing across a range of its proprietary card products.

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(Preliminary)

American Express Company

Selected Statistical Information (continued)

(Billions, except percentages and where indicated)

	Quarters Ended June 30,						Percentage
	2014			2013			Inc/(Dec)
Worldwide Card Member receivables:
Total receivables	$	45.3		$	44.1			3	%
Loss reserves (millions):
Beginning balance	$	414		$	410			1	%
Provisions (A)		183			161			14
Net write-offs (B)		(182	)		(180	)		1
Other (C)		(2	)		(5	)		(60	)
Ending balance	$	413		$	386			7
% of receivables		0.9	%		0.9	%
Net write-off rate (principal only) - USCS/ICS (D)		1.8	%	(F)
Net write-off rate (principal and fees) - USCS/ICS (D)		2.0	%	(F)
30 days past due as a % of total - USCS/ICS		1.5	%	(F)
Net loss ratio (as a % of charge volume) - GCS		0.09	%		0.08	%
90 days past billing as a % of total - GCS		0.7	%		0.7	%

Worldwide Card Member loans:
Total loans	$	66.3		$	63.1			5	%
Loss reserves (millions):
Beginning balance	$	1,191		$	1,367			(13	)%
Provisions (A)		282			334			(16	)
Net write-offs - principal (B)		(267	)		(309	)		(14	)
Net write-offs - interest and fees (B)		(42	)		(39	)		8
Other (C)		6			(11	)		#
Ending balance	$	1,170		$	1,342			(13	)
Ending reserves - principal	$	1,114		$	1,290			(14	)
Ending reserves - interest and fees	$	56		$	52			8
% of loans		1.8	%		2.1	%
% of past due		171	%		188	%
Average loans	$	65.2		$	62.5			4	%
Net write-off rate (principal only) (D)		1.6	%		2.0	%
Net write-off rate (principal, interest and fees) (D)		1.9	%		2.2	%
30 days past due loans as a % of total		1.0	%		1.1	%
Net interest income divided by average loans (E)		8.1	%		7.7	%
Net interest yield on Card Member loans (E)		9.2	%		9.1	%

# - Denotes a variance of more than 100 percent.

(A) Provisions for principal (resulting from authorized transactions) and fee reserve components.

(B) Consists of principal (resulting from authorized transactions), interest and/or fees, less recoveries.

(C) Beginning in first quarter 2014, reserves for card-related fraud losses are reflected in Other liabilities. All periods include foreign currency translation adjustments and other items.

(D) The Company presents a net write-off rate based on principal losses only (i.e., excluding interest and/or fees) to be consistent with industry convention. In addition, because the Company's practice is to include uncollectible interest and/or fees as part of its total provision for losses, a net write-off rate including principal, interest and/or fees is also presented.

(E) See Appendix III for calculations of net interest yield on Card Member loans, a non-GAAP measure, and net interest income divided by average loans, a GAAP measure, and the Company's rationale for presenting net interest yield on Card Member loans.

(F) Historically, net loss ratio as a % of charge volume and 90 days past billings as a % of receivables were presented for ICS and GCS. As a result of system enhancements, beginning in first quarter 2014, 30 days past due as a % of total, net write-off rate (principal only) and net write-off rate (principal and fees) will be presented for ICS.

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(Preliminary)

American Express Company

Consolidated Statements of Income

(Millions)

	Quarters Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013

Revenues
Non-interest revenues
Discount revenue	$	4,945		$	4,646		$	4,869		$	4,659		$	4,729
Net card fees		687			674			673			658			647
Travel commissions and fees		500			423			491			490			495
Other commissions and fees		624			618			626			610			605
Other		585			501			569			601			567
Total non-interest revenues		7,341			6,862			7,228			7,018			7,043
Interest income
Interest on loans		1,696			1,711			1,715			1,698			1,622
Interest and dividends on investment securities		45			46			48			48			52
Deposits with banks and other		18			19			19			21			20
Total interest income		1,759			1,776			1,782			1,767			1,694
Interest expense
Deposits		91			94			110			111			107
Long-term debt and other		352			345			353			373			385
Total interest expense		443			439			463			484			492
Net interest income		1,316			1,337			1,319			1,283			1,202
Total revenues net of interest expense		8,657			8,199			8,547			8,301			8,245
Provisions for losses
Charge card		183			215			174			159			161
Card Member loans		282			250			290			248			334
Other		24			20			15			12			23
Total provisions for losses		489			485			479			419			518
Total revenues net of interest expense after provisions for losses		8,168			7,714			8,068			7,882			7,727

Expenses
Marketing and promotion		985			613			809			827			786
Card Member rewards		1,773			1,582			1,717			1,619			1,601
Card Member services and other		192			222			188			197			193
Salaries and employee benefits		1,658			1,540			1,489			1,544			1,543
Professional services		817			692			830			793			763
Occupancy and equipment		467			462			510			462			460
Communications		101			93			97			94			92
Other, net		(137	)		302			448			342			294
Total		5,856			5,506			6,088			5,878			5,732
Pretax income		2,312			2,208			1,980			2,004			1,995
Income tax provision		783			776			672			638			590
Net income	$	1,529		$	1,432		$	1,308		$	1,366		$	1,405
Net income attributable to common shareholders (A)	$	1,517		$	1,420		$	1,297		$	1,354		$	1,392
Effective tax rate		33.9	%		35.1	%		33.9	%		31.8	%		29.6	%

(A) Represents net income, less earnings allocated to participating share awards of $12 million for the quarter ended June 30, 2014, $12 million for the quarter ended March 31, 2014, $11 million for the quarter ended December 31, 2013, $12 million for the quarter ended September 30, 2013 and $13 million for the quarter ended June 30, 2013.

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(Preliminary)

American Express Company

Financial Summary

(Millions)

	Quarters Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013

Total revenues net of interest expense
U.S. Card Services	$	4,477		$	4,290		$	4,388		$	4,286		$	4,239
International Card Services		1,391			1,352			1,429			1,356			1,299
Global Commercial Services		1,269			1,194			1,238			1,221			1,231
Global Network & Merchant Services		1,455			1,365			1,447			1,379			1,384
		8,592			8,201			8,502			8,242			8,153
Corporate & Other		65			(2	)		45			59			92

CONSOLIDATED TOTAL REVENUES NET OF INTEREST EXPENSE	$	8,657		$	8,199		$	8,547		$	8,301		$	8,245

Pretax income (loss)
U.S. Card Services	$	1,200		$	1,406		$	1,292		$	1,257		$	1,175
International Card Services		69			203			108			186			156
Global Commercial Services		865			285			287			341			333
Global Network & Merchant Services		578			702			632			608			647
		2,712			2,596			2,319			2,392			2,311
Corporate & Other		(400	)		(388	)		(339	)		(388	)		(316	)

PRETAX INCOME	$	2,312		$	2,208		$	1,980		$	2,004		$	1,995

Net income (loss)
U.S. Card Services	$	770		$	876		$	864		$	782		$	743
International Card Services		77			159			103			142			208
Global Commercial Services		561			184			182			261			226
Global Network & Merchant Services		373			443			399			391			412
		1,781			1,662			1,548			1,576			1,589
Corporate & Other		(252	)		(230	)		(240	)		(210	)		(184	)

NET INCOME	$	1,529		$	1,432		$	1,308		$	1,366		$	1,405

-8-

(Preliminary)

American Express Company

Financial Summary (continued)

	Quarters Ended
	June 30, 2014		March 31, 2014		December 31, 2013		September 30, 2013		June 30, 2013
EARNINGS PER COMMON SHARE

BASIC
Net income attributable to common shareholders	$	1.44	$	1.34	$	1.22	$	1.26	$	1.28

Average common shares outstanding (millions)		1,052		1,060		1,067		1,074		1,090

DILUTED
Net income attributable to common shareholders	$	1.43	$	1.33	$	1.21	$	1.25	$	1.27

Average common shares outstanding (millions)		1,058		1,067		1,073		1,081		1,097

Cash dividends declared per common share	$	0.26	$	0.23	$	0.23	$	0.23	$	0.23

Selected Statistical Information

	Quarters Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013

Return on average equity (A)		28.8	%		28.3	%		27.8	%		24.3	%		23.6	%
Return on average common equity (A)		28.5	%		28.1	%		27.6	%		24.1	%		23.4	%
Return on average tangible common equity (A)		35.8	%		35.4	%		34.9	%		30.6	%		29.7	%
Common shares outstanding (millions)		1,046			1,059			1,064			1,071			1,084
Book value per common share	$	19.32		$	18.87		$	18.32		$	17.94		$	17.57
Shareholders' equity (billions)	$	20.2		$	20.0		$	19.5		$	19.2		$	19.0

(A) Refer to Appendix I for components of return on average equity, return on average common equity and return on average tangible common equity, a non-GAAP measure.

-9-

(Preliminary)

American Express Company

Selected Statistical Information

(Millions, except percentages and where indicated)

	Quarters Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013
Card billed business (billions) (A):
United States	$	173.4		$	159.2		$	169.1		$	158.2		$	159.7
Outside the United States		84.7			78.9			84.9			78.0			78.0
Total	$	258.1		$	238.1		$	254.0		$	236.2		$	237.7
Total cards-in-force (B):
United States		54.1			53.5			53.1			52.8			52.5
Outside the United States		55.8			54.7			54.1			52.6			51.8
Total		109.9			108.2			107.2			105.4			104.3
Basic cards-in-force (B):
United States		42.0			41.5			41.1			40.9			40.7
Outside the United States		45.6			44.6			44.0			42.6			41.8
Total		87.6			86.1			85.1			83.5			82.5

Average discount rate (C)		2.48	%		2.52	%		2.48	%		2.52	%		2.52	%
Average basic Card Member spending (dollars) (D)	$	4,288		$	3,991		$	4,292		$	4,037		$	4,097
Average fee per card (dollars) (D)	$	41		$	40		$	41		$	40		$	40
Average fee per card adjusted (dollars) (D)	$	45		$	45		$	44		$	44		$	44

(D) Average basic Card Member spending and average fee per card are computed from proprietary card activities only. Average fee per card is computed based on net card fees, including the amortization of deferred direct acquisition costs divided by average worldwide proprietary cards-in-force. The adjusted average fee per card, which is a non-GAAP measure, is computed in the same manner, but excludes amortization of deferred direct acquisition costs. The amount of amortization excluded for these periods was $77 million for the quarter ended June 30, 2014, $73 million for the quarter ended March 31, 2014, $64 million for the quarter ended December 31, 2013, $67 million for the quarter ended September 30, 2013 and $66 million for the quarter ended June 30, 2013. The Company presents adjusted average fee per card because the Company believes this metric presents a useful indicator of card fee pricing across a range of its proprietary card products.

-10-

(Preliminary)

American Express Company

Selected Statistical Information (continued)

(Billions, except percentages and where indicated)

	Quarters Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013

Worldwide Card Member receivables:
Total receivables	$	45.3		$	44.7		$	44.2		$	43.5		$	44.1
Loss reserves (millions):
Beginning balance	$	414		$	386		$	396		$	386		$	410
Provisions (A)		183			215			174			159			161
Net write-offs (B)		(182	)		(177	)		(162	)		(149	)		(180	)
Other (C)		(2	)		(10	)		(22	)		-			(5	)
Ending balance	$	413		$	414		$	386		$	396		$	386
% of receivables		0.9	%		0.9	%		0.9	%		0.9	%		0.9	%
Net write-off rate (principal only) - USCS/ICS (D)		1.8	%		1.9	%	(F)			(F)			(F)
Net write-off rate (principal and fees) - USCS/ICS (D)		2.0	%		2.1	%	(F)			(F)			(F)
30 days past due as a % of total - USCS/ICS		1.5	%		1.7	%	(F)			(F)			(F)
Net loss ratio (as a % of charge volume) - GCS		0.09	%		0.09	%		0.08	%		0.06	%		0.08	%
90 days past billing as a % of total - GCS		0.7	%		0.7	%		0.9	%		0.8	%		0.7	%

Worldwide Card Member loans:
Total loans	$	66.3		$	64.0		$	67.2		$	63.0		$	63.1
Loss reserves (millions):
Beginning balance	$	1,191		$	1,261		$	1,281		$	1,342		$	1,367
Provisions (A)		282			250			290			248			334
Net write-offs - principal (B)		(267	)		(274	)		(253	)		(275	)		(309	)
Net write-offs - interest and fees (B)		(42	)		(42	)		(37	)		(36	)		(39	)
Other (C)		6			(4	)		(20	)		2			(11	)
Ending balance	$	1,170		$	1,191		$	1,261		$	1,281		$	1,342
Ending reserves - principal	$	1,114		$	1,135		$	1,212		$	1,234		$	1,290
Ending reserves - interest and fees	$	56		$	56		$	49		$	47		$	52
% of loans		1.8	%		1.9	%		1.9	%		2.0	%		2.1	%
% of past due		171	%		159	%		169	%		179	%		188	%
Average loans	$	65.2		$	64.5		$	64.4		$	63.0		$	62.5
Net write-off rate (principal only) (D)		1.6	%		1.7	%		1.6	%		1.7	%		2.0	%
Net write-off rate (principal, interest and fees) (D)		1.9	%		2.0	%		1.8	%		2.0	%		2.2	%
30 days past due loans as a % of total		1.0	%		1.2	%		1.1	%		1.1	%		1.1	%
Net interest income divided by average loans (E)		8.1	%		8.4	%		8.1	%		8.1	%		7.7	%
Net interest yield on Card Member loans (E)		9.2	%		9.5	%		9.3	%		9.4	%		9.1	%

(A) Provisions for principal (resulting from authorized transactions) and fee reserve components.

(B) Consists of principal (resulting from authorized transactions), interest and/or fees, less recoveries.

(C) Beginning in first quarter 2014, reserves related for card-related fraud losses are reflected in Other liabilities. All periods include foreign currency translation adjustments and other items.

-11-

(Preliminary)

U.S. Card Services

Selected Income Statement Data

(Millions)

	Quarters Ended June 30,						Percentage
	2014			2013			Inc/(Dec)

Revenues
Discount revenue, net card fees and other	$	3,222		$	3,063			5	%
Interest income		1,408			1,354			4
Interest expense		153			178			(14	)
Net interest income		1,255			1,176			7
Total revenues net of interest expense		4,477			4,239			6
Provisions for losses		339			356			(5	)
Total revenues net of interest expense after provisions for losses		4,138			3,883			7
Expenses
Marketing, promotion, rewards, Card Member services and other		1,865			1,735			7
Salaries and employee benefits and other operating expenses		1,073			973			10
Total		2,938			2,708			8
Pretax segment income		1,200			1,175			2
Income tax provision		430			432			-
Segment income	$	770		$	743			4
Effective tax rate		35.8	%		36.8	%

# - Denotes a variance of more than 100 percent.

-12-

(Preliminary)

U.S. Card Services

Selected Statistical Information

(Billions, except percentages and where indicated)

	Quarters Ended June 30,						Percentage
	2014			2013			Inc/(Dec)

Card billed business	$	136.5		$	125.6			9	%
Total cards-in-force (millions)		44.7			42.9			4	%
Basic cards-in-force (millions)		33.3			31.9			4	%
Average basic Card Member spending (dollars)	$	4,133		$	3,954			5	%

U.S. Consumer Travel:
Travel sales (millions)	$	1,027		$	1,158			(11	) %
Travel commissions and fees/sales		7.4	%		6.7	%

Total segment assets	$	101.1		$	96.5			5	%
Segment capital (millions) (A)	$	9,859		$	8,694			13	%
Return on average segment capital (B)		35.3	%		29.9	%
Return on average tangible segment capital (B)		36.5	%		31.2	%

Card Member receivables:
Total receivables	$	21.2		$	20.9			1	%
30 days past due as a % of total		1.5	%		1.6	%
Average receivables	$	21.3		$	20.5			4	%
Net write-off rate (principal only) (C)		1.8	%		1.9	%
Net write-off rate (principal and fees) (C)		2.0	%		2.1	%

Card Member loans:
Total loans	$	57.7		$	54.6			6	%
30 days past due loans as a % of total		0.9	%		1.1	%
Average loans	$	56.8		$	54.0			5	%
Net write-off rate (principal only) (C)		1.6	%		2.0	%
Net write-off rate (principal, interest and fees) (C)		1.8	%		2.2	%
Net interest income divided by average loans (D)		8.9	%		8.7	%
Net interest yield on Card Member loans (D)		9.1	%		9.1	%

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

(C) The Company presents a net write-off rate based on principal losses only (i.e., excluding interest and/or fees) to be consistent with industry convention. In addition, because the Company's practice is to include uncollectible interest and/or fees as part of its total provision for losses, a net write-off rate including principal, interest and/or fees is also presented.

(D) See Appendix IV for calculations of net interest yield on Card Member loans, a non-GAAP measure, and net interest income divided by average loans, a GAAP measure, and the Company's rationale for presenting net interest yield on Card Member loans.

-13-

(Preliminary)

U.S. Card Services

Selected Income Statement Data

(Millions)

	Quarters Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013

Revenues
Discount revenue, net card fees and other	$	3,222		$	3,017		$	3,132		$	3,050		$	3,063
Interest income		1,408			1,423			1,417			1,408			1,354
Interest expense		153			150			161			172			178
Net interest income		1,255			1,273			1,256			1,236			1,176
Total revenues net of interest expense		4,477			4,290			4,388			4,286			4,239
Provisions for losses		339			342			319			285			356
Total revenues net of interest expense after provisions for losses		4,138			3,948			4,069			4,001			3,883
Expenses
Marketing, promotion, rewards Card Member services and other		1,865			1,582			1,789			1,756			1,735
Salaries and employee benefits and other operating expenses		1,073			960			988			988			973
Total		2,938			2,542			2,777			2,744			2,708
Pretax segment income		1,200			1,406			1,292			1,257			1,175
Income tax provision		430			530			428			475			432
Segment income	$	770		$	876		$	864		$	782		$	743
Effective tax rate		35.8	%		37.7	%		33.1	%		37.8	%		36.8	%

-14-

(Preliminary)

U.S. Card Services

Selected Statistical Information

(Billions, except percentages and where indicated)

	Quarters Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013

Card billed business	$	136.5		$	124.3		$	134.1		$	124.6		$	125.6
Total cards-in-force (millions)		44.7			44.1			43.7			43.4			42.9
Basic cards-in-force (millions)		33.3			32.8			32.5			32.2			31.9
Average basic Card Member spending (dollars)	$	4,133		$	3,805		$	4,138		$	3,882		$	3,954

U.S. Consumer Travel:
Travel sales	$	1.0		$	1.0		$	0.9		$	0.9		$	1.2
Travel commissions and fees/sales		7.4	%		6.5	%		7.4	%		7.9	%		6.7	%

Total segment assets	$	101.1		$	98.9		$	103.5		$	95.2		$	96.5
Segment capital (A)	$	9.9		$	9.7		$	9.3		$	9.1		$	8.7
Return on average segment capital (B)		35.3	%		35.6	%		35.6	%		30.8	%		29.9	%
Return on average tangible segment capital (B)		36.5	%		36.9	%		37.0	%		32.0	%		31.2	%

Card Member receivables:
Total receivables	$	21.2		$	20.7		$	21.8		$	20.3		$	20.9
30 days past due as a % of total		1.5	%		1.8	%		1.6	%		1.7	%		1.6	%
Average receivables	$	21.3		$	20.6		$	21.2		$	20.5		$	20.5
Net write-off rate (principal only) (C)		1.8	%		1.8	%		1.5	%		1.4	%		1.9	%
Net write-off rate (principal and fees) (C)		2.0	%		2.0	%		1.7	%		1.6	%		2.1	%

Card Member loans:
Total loans	$	57.7		$	55.8		$	58.4		$	54.5		$	54.6
30 days past due loans as a % of total		0.9	%		1.1	%		1.1	%		1.1	%		1.1	%
Average loans	$	56.8		$	56.1		$	55.8		$	54.7		$	54.0
Net write-off rate (principal only) (C)		1.6	%		1.7	%		1.5	%		1.7	%		2.0	%
Net write-off rate (principal, interest and fees) (C)		1.8	%		1.9	%		1.7	%		1.9	%		2.2	%
Net interest income divided by average loans (D)		8.9	%		9.2	%		8.9	%		9.0	%		8.7	%
Net interest yield on Card Member loans (D)		9.1	%		9.4	%		9.2	%		9.3	%		9.1	%

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

-15-

(Preliminary)

International Card Services

Selected Income Statement Data

(Millions)

	Quarters Ended June 30,						Percentage
	2014			2013			Inc/(Dec)

Revenues
Discount revenue, net card fees and other	$	1,208		$	1,130			7	%
Interest income		275			259			6
Interest expense		92			90			2
Net interest income		183			169			8
Total revenues net of interest expense		1,391			1,299			7
Provisions for losses		90			101			(11	)
Total revenues net of interest expense after provisions for losses		1,301			1,198			9
Expenses
Marketing, promotion, rewards, Card Member services and other		577			478			21
Salaries and employee benefits and other operating expenses		655			564			16
Total		1,232			1,042			18
Pretax segment income		69			156			(56	)
Income tax provision		(8	)		(52	)		(85	)
Segment income	$	77		$	208			(63	)
Effective tax rate		-11.6	%		-33.3	%

# - Denotes a variance of more than 100 percent.

-16-

(Preliminary)

International Card Services

Selected Statistical Information

(Billions, except percentages and where indicated)

	Quarters Ended June 30,						Percentage
	2014			2013			Inc/(Dec)

Card billed business	$	34.1		$	32.3			6	%
Total cards-in-force (millions)		15.7			15.6			1	%
Basic cards-in-force (millions)		10.9			10.6			3	%
Average basic Card Member spending (dollars)	$	3,137		$	3,058			3	%

International Consumer Travel:
Travel sales (millions)	$	354		$	354			-
Travel commissions and fees/sales		6.8	%		6.8	%

Total segment assets	$	31.6		$	29.7			6	%
Segment capital (millions) (A)	$	3,027		$	3,070			(1	)%
Return on average segment capital (B)		15.7	%		21.9	%
Return on average tangible segment capital (B)		28.8	%		41.7	%

Card Member receivables:
Total receivables	$	7.5		$	7.2			4
30 days past billing as a % of total		1.3	%	(E)
Net write-off rate (principal only) (C)		1.9	%	(E)
Net write-off rate (principal and fees) (C)		2.0	%	(E)
90 days past billing as a % of total	(E)				1.1	%
Net loss ratio (as a % of charge volume)	(E)				0.21	%

Card Member loans:
Total loans	$	8.6		$	8.4			2	%
30 days past due loans as a % of total		1.6	%		1.6	%
Average loans	$	8.3		$	8.5			(2	)%
Net write-off rate (principal only) (C)		2.0	%		1.9	%
Net write-off rate (principal, interest and fees) (C)		2.4	%		2.4	%
Net interest income divided by average loans (D)		8.8	%		8.0	%
Net interest yield on Card Member loans (D)		9.6	%		9.2	%

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

(E) Historically, net loss ratio as a % of charge volume and 90 days past billings as a % of receivables were presented. As a result of system enhancements, beginning in first quarter 2014, 30 days past due as a % of total, net write-off rate (principal only) and net write-off rate (principal and fees) will be presented.

-17-

(Preliminary)

International Card Services

Selected Income Statement Data

(Millions)

	Quarters Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013

Revenues
Discount revenue, net card fees and other	$	1,208		$	1,157		$	1,229		$	1,161		$	1,130
Interest income		275			277			288			281			259
Interest expense		92			82			88			86			90
Net interest income		183			195			200			195			169
Total revenues net of interest expense		1,391			1,352			1,429			1,356			1,299
Provisions for losses		90			87			110			96			101
Total revenues net of interest expense after provisions for losses		1,301			1,265			1,319			1,260			1,198
Expenses
Marketing, promotion, rewards Card Member services and other		577			496			585			498			478
Salaries and employee benefits and other operating expenses		655			566			626			576			564
Total		1,232			1,062			1,211			1,074			1,042
Pretax segment income		69			203			108			186			156
Income tax provision/(benefit)		(8	)		44			5			44			(52	)
Segment income	$	77		$	159		$	103		$	142		$	208
Effective tax rate		-11.6	%		21.7	%		4.6	%		23.7	%		-33.3	%

-18-

(Preliminary)

International Card Services

Selected Statistical Information

(Billions, except percentages and where indicated)

	Quarters Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013

Card billed business	$	34.1		$	31.9		$	35.5		$	32.5		$	32.3
Total cards-in-force (millions)		15.7			15.7			15.7			15.5			15.6
Basic cards-in-force (millions)		10.9			10.9			10.7			10.6			10.6
Average basic Card Member spending (dollars)	$	3,137		$	2,942		$	3,336		$	3,076		$	3,058

International Consumer Travel:
Travel sales	$	0.4		$	0.4		$	0.4		$	0.4		$	0.4
Travel commissions and fees/sales		6.8	%		6.2	%		7.1	%		7.0	%		6.8	%

Total segment assets	$	31.6		$	30.4		$	31.1		$	30.4		$	29.7
Segment capital (A)	$	3.0		$	3.0		$	3.1		$	3.1		$	3.1
Return on average segment capital (B)		15.7	%		20.0	%		20.9	%		20.8	%		21.9	%
Return on average tangible segment capital (B)		28.8	%		36.8	%		38.8	%		39.1	%		41.7	%

Card Member receivables:
Total receivables	$	7.5		$	7.2		$	7.8		$	7.2		$	7.2
30 days past billing as a % of total		1.3	%		1.4	%	(E)			(E)			(E)
Net write-off rate (principal only) (C)		1.9	%		2.2	%	(E)			(E)			(E)
Net write-off rate (principal and fees) (C)		2.0	%		2.3	%	(E)			(E)			(E)
90 days past billing as a % of total	(E)			(E)				1.1	%		1.1	%		1.1	%
Net loss ratio (as a % of charge volume)	(E)			(E)				0.19	%		0.21	%		0.21	%

Card Member loans:
Total loans	$	8.6		$	8.2		$	8.8		$	8.4		$	8.4
30 days past due loans as a % of total		1.6	%		1.7	%		1.4	%		1.5	%		1.6	%
Average loans	$	8.3		$	8.3		$	8.5		$	8.3		$	8.5
Net write-off rate (principal only) (C)		2.0	%		2.0	%		1.8	%		1.9	%		1.9	%
Net write-off rate (principal, interest and fees) (C)		2.4	%		2.4	%		2.2	%		2.4	%		2.4	%
Net interest income divided by average loans (D)		8.8	%		9.5	%		9.3	%		9.3	%		8.0	%
Net interest yield on Card Member loans (D)		9.6	%		10.1	%		10.0	%		10.4	%		9.2	%

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

-19-

(Preliminary)

Global Commercial Services

Selected Income Statement Data

(Millions)

	Quarters Ended June 30,						Percentage
	2014			2013			Inc/(Dec)

Revenues
Discount revenue, net card fees and other	$	1,332		$	1,290			3	%
Interest income		3			3			-
Interest expense		66			62			6
Net interest expense		(63	)		(59	)		7
Total revenues net of interest expense		1,269			1,231			3
Provisions for losses		43			36			19
Total revenues net of interest expense after provisions for losses		1,226			1,195			3
Expenses
Marketing, promotion, rewards, Card Member services and other		177			144			23
Salaries and employee benefits and other operating expenses		184			718			(74	)
Total		361			862			(58	)
Pretax segment income		865			333			#
Income tax provision		304			107			#
Segment income	$	561		$	226			#
Effective tax rate		35.1	%		32.1	%

-20-

(Preliminary)

Global Commercial Services

Selected Statistical Information

(Billions, except percentages and where indicated)

	Quarters Ended June 30,						Percentage
	2014			2013			Inc/(Dec)

Card billed business	$	47.6		$	44.4			7	%
Total cards-in-force (millions)		7.0			7.0			-
Basic cards-in-force (millions)		7.0			7.0			-
Average basic Card Member spending (dollars)	$	6,781		$	6,317			7	%

Global Corporate Travel:
Travel sales (millions)	$	4,882		$	4,954			(1	) %
Travel commissions and fees/sales		8.2	%		7.9	%

Total segment assets	$	20.8		$	20.5			1	%
Segment capital (millions) (A)	$	3,774		$	3,680			3	%
Return on average segment capital (B)		32.0	%		18.3	%
Return on average tangible segment capital (B)		60.3	%		35.9	%

Card Member receivables:
Total receivables	$	16.5		$	15.9			4	%
90 days past billing as a % of total		0.7	%		0.7	%
Net loss ratio (as a % of charge volume)		0.09	%		0.08	%

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

-21-

(Preliminary)

Global Commercial Services

Selected Income Statement Data

(Millions)

	Quarters Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013

Revenues
Discount revenue, net card fees and other	$	1,332		$	1,249		$	1,298		$	1,277		$	1,290
Interest income		3			4			4			3			3
Interest expense		66			59			64			59			62
Net interest expense		(63	)		(55	)		(60	)		(56	)		(59	)
Total revenues net of interest expense		1,269			1,194			1,238			1,221			1,231
Provisions for losses		43			38			36			29			36
Total revenues net of interest expense after provisions for losses		1,226			1,156			1,202			1,192			1,195
Expenses
Marketing, promotion, rewards, Card Member services and other		177			166			162			148			144
Salaries and employee benefits and other operating expenses		184			705			753			703			718
Total		361			871			915			851			862
Pretax segment income		865			285			287			341			333
Income tax provision		304			101			105			80			107
Segment income	$	561		$	184		$	182		$	261		$	226
Effective tax rate		35.1	%		35.4	%		36.6	%		23.5	%		32.1	%

-22-

(Preliminary)

Global Commercial Services

Selected Statistical Information

(Billions, except percentages and where indicated)

	Quarters Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013

Card billed business	$	47.6		$	45.5		$	45.0		$	43.2		$	44.4
Total cards-in-force (millions)		7.0			7.1			7.1			7.1			7.0
Basic cards-in-force (millions)		7.0			7.1			7.1			7.1			7.0
Average basic Card Member spending (dollars)	$	6,781		$	6,429		$	6,361		$	6,139		$	6,317

Global Corporate Travel:
Travel sales	$	4.9		$	4.7		$	4.8		$	4.5		$	5.0
Travel commissions and fees/sales		8.2	%		7.2	%		8.3	%		8.8	%		7.9	%

Total segment assets	$	20.8		$	21.6		$	19.2		$	20.5		$	20.5
Segment capital (A)	$	3.8		$	3.8		$	3.7		$	3.6		$	3.7
Return on average segment capital (B)		32.0	%		23.2	%		23.6	%		20.4	%		18.3	%
Return on average tangible segment capital (B)		60.3	%		44.4	%		45.8	%		39.9	%		35.9	%

Card Member receivables:
Total receivables	$	16.5		$	16.6		$	14.4		$	15.9		$	15.9
90 days past billing as a % of total		0.7	%		0.7	%		0.9	%		0.8	%		0.7	%
Net loss ratio (as a % of charge volume)		0.09	%		0.09	%		0.08	%		0.06	%		0.08	%

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

-23-

(Preliminary)

Global Network & Merchant Services

Selected Income Statement Data

(Millions)

	Quarters Ended June 30,						Percentage
	2014			2013			Inc/(Dec)
Revenues
Discount revenue, fees and other	$	1,366		$	1,313			4	%
Interest income		11			8			38
Interest expense		(78	)		(63	)		24
Net interest income		89			71			25
Total revenues net of interest expense		1,455			1,384			5
Provisions for losses		18			21			(14	)
Total revenues net of interest expense after provisions for losses		1,437			1,363			5
Expenses
Marketing, promotion, rewards, Card Member services and other		277			188			47
Salaries and employee benefits and other operating expenses		582			528			10
Total		859			716			20
Pretax segment income		578			647			(11	)
Income tax provision		205			235			(13	)
Segment income	$	373		$	412			(9	)
Effective tax rate		35.5	%		36.3	%

-24-

(Preliminary)

Global Network & Merchant Services

Selected Statistical Information

(Billions, except percentages and where indicated)	Quarters Ended June 30,						Percentage
	2014			2013			Inc/(Dec)

Global Card billed business (A)	$	258.1		$	237.7			9	%

Global Network & Merchant Services:
Total segment assets	$	18.7		$	22.6			(17	)%
Segment capital (millions) (B)	$	2,046		$	2,145			(5	)%
Return on average segment capital (C)		79.4	%		71.0	%
Return on average tangible segment capital (C)		87.8	%		78.4	%

Global Network Services:
Card billed business	$	40.1		$	35.8			12	%
Total cards-in-force (millions)		42.5			38.8			10	%

(A) Global Card billed business includes activities (including cash advances) related to proprietary cards, cards issued under network partnership agreements (non-proprietary billed business), and certain insurance fees charged on proprietary cards. In-store spend activity within retail co-brand portfolios in Global Network Services, from which the Company earns no revenue, is not included in non-proprietary billed business.

(B) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(C) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

-25-

(Preliminary)

Global Network & Merchant Services

Selected Income Statement Data

(Millions)

	Quarters Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013
Revenues
Discount revenue, fees and other	$	1,366		$	1,293		$	1,373		$	1,309		$	1,313
Interest income		11			10			9			8			8
Interest expense		(78	)		(62	)		(65	)		(62	)		(63	)
Net interest income		89			72			74			70			71
Total revenues net of interest expense		1,455			1,365			1,447			1,379			1,384
Provisions for losses		18			16			14			13			21
Total revenues net of interest expense after provisions for losses		1,437			1,349			1,433			1,366			1,363
Expenses
Marketing, promotion, rewards, Card Member services and other		277			156			158			200			188
Salaries and employee benefits and other operating expenses		582			491			643			558			528
Total		859			647			801			758			716
Pretax segment income		578			702			632			608			647
Income tax provision		205			259			233			217			235
Segment income	$	373		$	443		$	399		$	391		$	412
Effective tax rate		35.5	%		36.9	%		36.9	%		35.7	%		36.3	%

-26-

(Preliminary)

Global Network & Merchant Services

Selected Statistical Information

(Billions, except percentages and where indicated)	Quarters Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013

Global Card billed business (A)	$	258.1		$	238.1		$	254.0		$	236.2		$	237.7

Global Network & Merchant Services:
Total segment assets	$	18.7		$	18.3		$	17.1		$	17.8		$	22.6
Segment capital (B)	$	2.0		$	1.9		$	2.0		$	2.0		$	2.1
Return on average segment capital (C)		79.4	%		81.2	%		76.8	%		73.4	%		71.0	%
Return on average tangible segment capital (C)		87.8	%		89.7	%		84.9	%		81.1	%		78.4	%

Global Network Services:
Card billed business	$	40.1		$	36.6		$	39.3		$	35.9		$	35.8
Total cards-in-force (millions)		42.5			41.3			40.7			39.4			38.8

(B) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(C) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

-27-

(Preliminary)

American Express Company

Components of Return on Average Equity (ROE), Return on Average Common Equity (ROCE),

and Return on Average Tangible Common Equity (ROTCE)

Appendix I

(Millions)

	For the Twelve Months Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013

ROE

Net income	$	5,635		$	5,511		$	5,359		$	4,688		$	4,572
Average shareholders' equity	$	19,591		$	19,442		$	19,254		$	19,289		$	19,372
Return on average equity (A)		28.8	%		28.3	%		27.8	%		24.3	%		23.6	%

Reconciliation of ROCE and ROTCE

Net income	$	5,635		$	5,511		$	5,359		$	4,688		$	4,572
Earnings allocated to participating share awards and other		47			48			47			43			45
Net income attributable to common shareholders	$	5,588		$	5,463		$	5,312		$	4,645		$	4,527

Average shareholders' equity	$	19,591		$	19,442		$	19,254		$	19,289		$	19,372
Average common shareholders' equity	$	19,591		$	19,442		$	19,254		$	19,289		$	19,372
Average goodwill and other intangibles		3,994			4,012			4,055			4,091			4,128
Average tangible common shareholders' equity	$	15,597		$	15,430		$	15,199		$	15,198		$	15,244
Return on average common equity (A)		28.5	%		28.1	%		27.6	%		24.1	%		23.4	%
Return on average tangible common equity (B)		35.8	%		35.4	%		34.9	%		30.6	%		29.7	%

(A) Return on average equity and return on average common equity are calculated by dividing one year period net income/net income attributable to common shareholders by one year average total shareholders’ equity/average common shareholders' equity, respectively.

(B) Return on average tangible common equity, a non-GAAP measure, is computed in the same manner as return on average common equity except the computation of average tangible common shareholders' equity, a non-GAAP measure, excludes from average total shareholders' equity, average goodwill and other intangibles. The Company believes that return on average tangible common equity is a useful measure of the profitability of its business.

-28-

(Preliminary)

American Express Company

Components of Return on Average Segment Capital (ROSC) and Return on Average Tangible Segment Capital (ROTSC)

Appendix II

(Millions)

	For the Twelve Months Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013

U.S. Card Services
Segment income	$	3,292		$	3,265		$	3,193		$	2,752		$	2,669
Average segment capital	$	9,337		$	9,180		$	8,974		$	8,940		$	8,921
Average goodwill and other intangibles		311			323			334			345			357
Average tangible segment capital	$	9,026		$	8,857		$	8,640		$	8,595		$	8,564
Return on average segment capital (A)		35.3	%		35.6	%		35.6	%		30.8	%		29.9	%
Return on average tangible segment capital (A)		36.5	%		36.9	%		37.0	%		32.0	%		31.2	%

International Card Services
Segment income	$	481		$	612		$	631		$	623		$	645
Average segment capital	$	3,063		$	3,053		$	3,024		$	2,990		$	2,946
Average goodwill and other intangibles		1,394			1,389			1,396			1,398			1,398
Average tangible segment capital	$	1,669		$	1,664		$	1,628		$	1,592		$	1,548
Return on average segment capital (A)		15.7	%		20.0	%		20.9	%		20.8	%		21.9	%
Return on average tangible segment capital (A)		28.8	%		36.8	%		38.8	%		39.1	%		41.7	%

Global Commercial Services
Segment income	$	1,188		$	853		$	860		$	743		$	665
Average segment capital	$	3,707		$	3,679		$	3,647		$	3,637		$	3,639
Average goodwill and other intangibles		1,736			1,759			1,768			1,775			1,785
Average tangible segment capital	$	1,971		$	1,920		$	1,879		$	1,862		$	1,854
Return on average segment capital (A)		32.0	%		23.2	%		23.6	%		20.4	%		18.3	%
Return on average tangible segment capital (A)		60.3	%		44.4	%		45.8	%		39.9	%		35.9	%

Global Network & Merchant Services
Segment income	$	1,606		$	1,645		$	1,575		$	1,530		$	1,499
Average segment capital	$	2,022		$	2,026		$	2,050		$	2,084		$	2,111
Average goodwill and other intangibles		192			193			195			197			199
Average tangible segment capital	$	1,830		$	1,833		$	1,855		$	1,887		$	1,912
Return on average segment capital (A)		79.4	%		81.2	%		76.8	%		73.4	%		71.0	%
Return on average tangible segment capital (A)		87.8	%		89.7	%		84.9	%		81.1	%		78.4	%

(A) Return on average segment capital is calculated by dividing one year period segment income by one year average segment capital. Return on average tangible segment capital, a non-GAAP measure, is computed in the same manner as return on average segment capital except the computation of average tangible segment capital, a non-GAAP measure, excludes average goodwill and other intangibles. The Company believes that return on average tangible segment capital is a useful measure of the profitability of its business.

-29-

(Preliminary)

American Express Company

Net Interest Yield on Card Member Loans

Appendix III

(Millions)

	Quarters Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013

Net interest income	$	1,316		$	1,337		$	1,319		$	1,283		$	1,202

Exclude:
Interest expense not attributable to the Company's Card Member loan portfolio	$	259		$	263		$	279		$	296		$	295

Interest income not attributable to the Company's Card Member loan portfolio	$	(89	)	$	(88	)	$	(91	)	$	(87	)	$	(88	)


Adjusted net interest income (A)	$	1,486		$	1,512		$	1,507		$	1,492		$	1,409

Average loans (billions)	$	65.2		$	64.5		$	64.4		$	63.0		$	62.5

Exclude:
Unamortized deferred card fees, net of direct acquisition costs of Card Member loans, and other (billions)	$	(0.2	)	$	(0.2	)	$	(0.2	)	$	(0.2	)	$	(0.3	)

Adjusted average loans (billions) (B)	$	65.0		$	64.3		$	64.2		$	62.8		$	62.2

Net interest income divided by average loans (C)		8.1	%		8.4	%		8.1	%		8.1	%		7.7	%
Net interest yield on Card Member loans (D)		9.2	%		9.5	%		9.3	%		9.4	%		9.1	%

(A) Adjusted net interest income, a non-GAAP measure, represents net interest income allocated to the Company's Card Member loan portfolio excluding the impact of interest expense and interest income not attributable to the Company's Card Member loan portfolio. The Company believes adjusted net interest income is useful to investors because it is a component of net interest yield on Card Member loans.

(B) Adjusted average loans, a non-GAAP measure, represents average Card Member loans excluding the impact of deferred card fees, net of deferred direct acquisition costs of Card Member loans, and other. The Company believes adjusted average loans is useful to investors because it is a component of net interest yield on Card Member loans.

(C) This calculation includes elements of total interest income and total interest expense that are not attributable to the Card Member loan portfolio, and thus is not representative of net interest yield on Card Member loans. The calculation includes interest income and interest expense attributable to investment securities and other interest-bearing deposits as well as to Card Member loans, and interest expense attributable to other activities, including Card Member receivables.

(D) Net interest yield on Card Member loans, a non-GAAP measure, is computed by dividing adjusted net interest income by adjusted average loans, computed on an annualized basis. The calculation of net interest yield on Card Member loans includes interest that is deemed uncollectible. For all presentations of net interest yield on Card Member loans, reserves and net write-offs related to uncollectible interest are recorded through provisions for losses - Card Member loans; therefore, such reserves and net write-offs are not included in the net interest yield calculation. The Company believes net interest yield on Card Member loans is useful to investors because it provides a measure of profitability of the Company's Card Member loan portfolio.

-30-

(Preliminary)

U. S. Card Services and International Card Services

Net Interest Yield on Card Member Loans

Appendix IV

(Millions)

	Quarters Ended
	June 30, 2014			March 31, 2014			December 31, 2013			September 30, 2013			June 30, 2013
USCS:
Net interest income	$	1,255		$	1,273		$	1,256		$	1,236		$	1,176

Exclude:
Interest expense not attributable to the Company's Card Member loan portfolio	$	40		$	39		$	43		$	45		$	47

Interest income not attributable to the Company's Card Member loan portfolio	$	(3	)	$	(3	)	$	(2	)	$	(3	)	$	(2	)

Adjusted net interest income (A)	$	1,292		$	1,309		$	1,297		$	1,278		$	1,221

Average loans (billions)	$	56.8		$	56.1		$	55.8		$	54.7		$	54.0

Exclude:
Unamortized deferred card fees, net of direct acquisition costs of Card Member loans (billions)	$	-		$	0.1		$	-		$	-		$	-

Adjusted average loans (billions) (B)	$	56.8		$	56.2		$	55.8		$	54.7		$	54.0

Net interest income divided by average loans (C)		8.9	%		9.2	%		8.9	%		9.0	%		8.7	%
Net interest yield on Card Member loans (D)		9.1	%		9.4	%		9.2	%		9.3	%		9.1	%

ICS:
Net interest income	$	183		$	195		$	200		$	195		$	169

Exclude:
Interest expense not attributable to the Company's Card Member loan portfolio	$	21		$	18		$	21		$	23		$	26

Interest income not attributable to the Company's Card Member loan portfolio	$	(10	)	$	(10	)	$	(11	)	$	(6	)	$	(5	)

Adjusted net interest income (A)	$	194		$	203		$	210		$	212		$	190

Average loans (billions)	$	8.3		$	8.3		$	8.5		$	8.3		$	8.5

Exclude:
Unamortized deferred card fees, net of direct acquisition costs of Card Member loans, and other (billions)	$	(0.2	)	$	(0.2	)	$	(0.2	)	$	(0.2	)	$	(0.2	)

Adjusted average loans (billions) (B)	$	8.1		$	8.1		$	8.3		$	8.1		$	8.3

Net interest income divided by average loans (C)		8.8	%		9.5	%		9.3	%		9.3	%		8.0	%
Net interest yield on Card Member loans (D)		9.6	%		10.1	%		10.0	%		10.4	%		9.2	%

-31-

American Express (AXP) 8-KResults of Operations and Financial Condition