American Express (AXP) 8-K Regulation FD Disclosure

EXHIBIT 99.1

Global Consumer Services Group	(Preliminary)
Selected Income Statement and Statistical Information
(Millions, except percentages)

	Q1'18			Q4'17			Q3'17			Q2'17			Q1'17			Q4'16			Q3'16			Q2'16			Q1'16
Non-interest revenues	$	3,491		$	3,535		$	3,361		$	3,345		$	3,137		$	3,215		$	3,146		$	3,373		$	3,259
Interest income		1,949			1,848			1,781			1,616			1,544			1,466			1,409			1,511			1,619
Interest expense		327			306			281			247			213			201			203			213			211
Net interest income		1,622			1,542			1,500			1,369			1,331			1,265			1,206			1,298			1,408
Total revenues net of interest expense		5,113			5,077			4,861			4,714			4,468			4,480			4,352			4,671			4,667
Provisions for losses		530			641			568			428			359			454			359			315			262
Total revenues net of interest expense after provisions for losses		4,583			4,436			4,293			4,286			4,109			4,026			3,993			4,356			4,405
Expenses
Marketing, business development, rewards, Card Member services		2,446			2,479			2,351			2,322			2,081			2,353			2,104			2,163			2,094
Salaries and employee benefits and other operating expenses		1,089			1,100			1,026			1,066			1,054			1,191			1,091			287			989
Total expenses		3,535			3,579			3,377			3,388			3,135			3,544			3,195			2,450			3,083
Pretax segment income		1,048			857			916			898			974			482			798			1,906			1,322
Income tax provision		222			233			236			283			301			100			261			654			454
Segment income	$	826		$	624		$	680		$	615		$	673		$	382		$	537		$	1,252		$	868
Effective tax rate		21.2	%		27.2	%		25.8	%		31.5	%		30.9	%		20.7	%		32.7	%		34.3	%		34.3	%
(Billions, except percentages and where indicated)
Proprietary card billed business (A)
US	$	86.0		$	91.0		$	83.7		$	84.8		$	77.5		$	84.2		$	78.6		$	93.4		$	89.0
Outside the United States	$	33.3		$	33.8		$	30.5		$	28.8		$	26.6		$	28.1		$	26.5		$	26.6		$	24.7
Total	$	119.3		$	124.8		$	114.2		$	113.6		$	104.1		$	112.3		$	105.1		$	120.0		$	113.7
Proprietary cards-in-force (millions) (B)
US		36.1			34.9			34.4			33.8			33.2			32.7			32.3			31.8			40.9
Outside the United States		16.2			15.8			15.7			15.5			15.3			15.1			14.9			15.0			14.8
Total		52.3			50.7			50.1			49.3			48.5			47.8			47.2			46.8			55.7
Proprietary basic cards-in-force (millions) (B)
US		25.8			25.0			24.6			24.2			23.7			23.3			22.9			22.6			28.8
Outside the United States		11.2			10.9			10.8			10.7			10.6			10.4			10.3			10.2			10.1
Total		37.0			35.9			35.4			34.9			34.3			33.7			33.2			32.8			38.9
Average proprietary basic Card Member spending (dollars)
US	$	3,371		$	3,672		$	3,433		$	3,538		$	3,297		$	3,643		$	3,452		$	3,417		$	3,092
Outside the United States	$	3,001		$	3,106		$	2,840		$	2,726		$	2,542		$	2,720		$	2,596		$	2,609		$	2,455
Total	$	3,259		$	3,499		$	3,251		$	3,289		$	3,064		$	3,358		$	3,186		$	3,197		$	2,927
Segment assets (C)	$	120.9		$	123.6		$	117.9		$	112.8		$	110.1		$	114.1		$	105.0		$	106.1		$	111.8
Card Member loans:
Total loans
US	$	52.7		$	53.7		$	49.3		$	48.3		$	46.7		$	48.8		$	44.9		$	44.6		$	42.4
Outside the United States	$	8.6		$	8.6		$	7.8		$	7.3		$	6.8		$	6.9		$	6.7		$	6.6		$	6.7
Total	$	61.3		$	62.3		$	57.1		$	55.6		$	53.5		$	55.7		$	51.6		$	51.2		$	49.1
Average loans
US	$	52.9		$	51.1		$	49.0		$	47.7		$	47.3		$	46.5		$	44.8		$	43.5		$	42.5
Outside the United States	$	8.7		$	8.1		$	7.5		$	7.1		$	6.9		$	6.8		$	6.7		$	6.8		$	6.8
Total	$	61.6		$	59.2		$	56.5		$	54.8		$	54.2		$	53.3		$	51.5		$	50.3		$	49.3
Lending Credit Metrics
US
Net write-off rate (principal only) (D)		2.0	%		1.9	%		1.8	%		1.8	%		1.7	%		1.5	%		1.6	%		1.5	%		1.5	%
Net write-off rate (principal, interest and fees) (D)		2.4	%		2.2	%		2.1	%		2.1	%		2.0	%		1.8	%		1.9	%		1.7	%		1.7	%
30+ days past due loans as a % of total		1.4	%		1.3	%		1.3	%		1.1	%		1.2	%		1.1	%		1.1	%		1.1	%		1.0	%
Outside the United States
Net write-off rate (principal only) (D)		2.1	%		2.0	%		2.2	%		2.0	%		2.0	%		2.0	%		2.1	%		2.1	%		1.9	%
Net write-off rate (principal, interest and fees) (D)		2.6	%		2.4	%		2.7	%		2.5	%		2.5	%		2.5	%		2.6	%		2.5	%		2.4	%
30+ days past due loans as a % of total		1.6	%		1.4	%		1.6	%		1.7	%		1.7	%		1.6	%		1.7	%		1.7	%		1.8	%
Total
Net write-off rate (principal only) (D)		2.0	%		1.9	%		1.8	%		1.8	%		1.7	%		1.6	%		1.7	%		1.5	%		1.5	%
Net write-off rate (principal, interest and fees) (D)		2.4	%		2.3	%		2.2	%		2.1	%		2.1	%		1.9	%		2.0	%		1.8	%		1.8	%
30+ days past due loans as a % of total		1.4	%		1.3	%		1.3	%		1.2	%		1.3	%		1.2	%		1.2	%		1.1	%		1.1	%
Net interest income divided by average Card Member loans (E)		10.5	%		10.4	%		10.6	%		10.0	%		9.8	%		9.5	%		9.4	%		9.0	%		9.3	%
Net interest yield on average Card Member loans (E)		10.8	%		10.5	%		10.7	%		10.2	%		10.1	%		9.7	%		9.7	%		9.3	%		9.6	%
US		10.7	%		10.5	%		10.6	%		10.1	%		10.0	%		9.5	%		9.4	%		9.1	%		9.4	%
Outside the United States		11.0	%		10.8	%		11.6	%		11.2	%		11.1	%		11.0	%		11.2	%		10.8	%		10.8	%
Card Member receivables:
US	$	11.7		$	13.1		$	11.2		$	11.3		$	10.9		$	12.3		$	10.1		$	10.6		$	10.3
Outside the United States	$	7.0		$	7.8		$	6.5		$	6.0		$	5.6		$	6.0		$	5.6		$	5.6		$	5.6
Total receivables	$	18.7		$	20.9		$	17.7		$	17.3		$	16.5		$	18.3		$	15.7		$	16.2		$	15.9
Credit Metrics
US
Net write-off rate (principal only) (D)		1.3	%		1.3	%		1.2	%		1.2	%		1.5	%		1.3	%		1.1	%		1.3	%		1.8	%
Net write-off rate (principal and fees) (D)		1.5	%		1.4	%		1.3	%		1.4	%		1.7	%		1.5	%		1.3	%		1.6	%		2.0	%
30+ days past due loans as a % of total		1.3	%		1.1	%		1.2	%		1.1	%		1.3	%		1.2	%		1.4	%		1.2	%		1.4	%
Outside the United States
Net write-off rate (principal only) (D)		2.0	%		1.8	%		2.2	%		1.9	%		2.1	%		1.8	%		2.0	%		2.2	%		2.2	%
Net write-off rate (principal and fees) (D)		2.2	%		1.9	%		2.4	%		2.0	%		2.3	%		1.9	%		2.2	%		2.3	%		2.4	%
30+ days past due as a % of total		1.5	%		1.3	%		1.4	%		1.4	%		1.5	%		1.3	%		1.5	%		1.4	%		1.5	%
Total
Net write-off rate (principal only) (D)		1.6	%		1.5	%		1.5	%		1.5	%		1.7	%		1.4	%		1.5	%		1.6	%		1.9	%
Net write-off rate (principal and fees) (D)		1.7	%		1.6	%		1.7	%		1.6	%		1.9	%		1.6	%		1.6	%		1.8	%		2.1	%
30+ days past due as a % of total		1.4	%		1.2	%		1.3	%		1.2	%		1.3	%		1.2	%		1.4	%		1.3	%		1.4	%

Please see Appendix V for footnote references

-1-

Global Commercial Services	(Preliminary)
Selected Income Statement and Statistical Information
(Millions, except percentages)

	Q1'18			Q4'17			Q3'17			Q2'17			Q1'17			Q4'16			Q3'16			Q2'16			Q1'16
Non-interest revenues	$	2,838		$	2,866		$	2,734		$	2,738		$	2,604		$	2,654		$	2,573		$	2,635		$	2,511
Interest income		377			357			351			334			319			296			282			310			321
Interest expense		171			168			159			145			123			120			117			123			112
Net interest income		206			189			192			189			196			176			165			187			209
Total revenues net of interest expense		3,044			3,055			2,926			2,927			2,800			2,830			2,738			2,822			2,720
Provisions for losses		240			187			195			152			209			170			135			140			159
Total revenues net of interest expense after provisions for losses		2,804			2,868			2,731			2,775			2,591			2,660			2,603			2,682			2,561
Expenses (C)
Marketing, business development, rewards, Card Member services		1,374			1,362			1,312			1,347			1,290			1,383			1,165			1,213			1,105
Salaries and employee benefits and other operating expenses		722			743			685			692			691			763			692			551			701
Total expenses		2,096			2,105			1,997			2,039			1,981			2,146			1,857			1,764			1,806
Pretax segment income		708			763			734			736			610			514			746			918			755
Income tax provision		162			221			229			259			205			152			270			337			273
Segment income	$	546		$	542		$	505		$	477		$	405		$	362		$	476		$	581		$	482
Effective tax rate		22.9	%		29.0	%		31.2	%		35.2	%		33.6	%		29.6	%		36.2	%		36.7	%		36.2	%
(Billions, except percentages and where indicated)
Proprietary card billed business (A)	$	115.7		$	116.6		$	109.7		$	109.0		$	102.8		$	105.1		$	100.1		$	104.3		$	98.5
Proprietary cards-in-force (millions) (B)		14.1			14.0			13.9			13.8			13.7			13.6			13.6			13.4			15.2
Average basic Card Member spending (dollars)	$	8,233		$	8,356		$	7,907		$	7,920		$	7,533		$	7,729		$	7,386		$	7,060		$	6,509
Segment assets (C)	$	52.1		$	49.1		$	49.3		$	47.3		$	46.0		$	43.3		$	43.3		$	42.6		$	43.8
Card Member loans	$	11.5		$	11.1		$	10.7		$	10.4		$	10.0		$	9.5		$	9.1		$	8.7		$	8.3
Card Member receivables	$	35.5		$	33.1		$	33.8		$	32.1		$	31.2		$	29.0		$	29.6		$	29.1		$	28.6
Card Member loans (F):
Total loans - Global Small Business Services (GSBS)	$	11.4		$	11.0		$	10.7		$	10.3		$	10.0		$	9.5		$	9.0		$	8.6		$	8.3
30+ days past due as a % of total - GSBS		1.3	%		1.2	%		1.1	%		1.1	%		1.2	%		1.1	%		1.1	%		1.1	%		1.0	%
Average loans - GSBS	$	11.1		$	10.9		$	10.5		$	10.1		$	9.6		$	9.3		$	8.8		$	8.5		$	8.1
Net write-off rate (principal only) - GSBS (D)		1.6	%		1.6	%		1.6	%		1.5	%		1.6	%		1.4	%		1.5	%		1.3	%		1.4	%
Net write-off rate (principal, interest and fees) - GSBS (D)		1.9	%		1.9	%		1.9	%		1.8	%		1.8	%		1.7	%		1.8	%		1.6	%		1.6	%
Net interest income divided by average Card Member loans (E)		7.4	%		6.9	%		7.3	%		7.4	%		8.1	%		7.6	%		7.5	%		7.5	%		8.1	%
Net interest yield on average Card Member loans (E)		10.7	%		10.4	%		10.7	%		10.8	%		11.0	%		10.5	%		10.5	%		10.2	%		10.5	%
Card Member receivables:
Total receivables - Global Commercial Payments (GCP) (G)	$	19.3		$	17.0		$	17.9		$	16.9		$	16.6		$	14.8		$	15.8		$	15.3		$	15.4
90+ days past billing as a % of total - GCP		0.8	%		0.9	%		0.9	%		0.8	%		0.7	%		0.9	%		0.8	%		0.7	%		0.7	%
Net loss ratio (as a % of charge volume) - GCP		0.10	%		0.11	%		0.09	%		0.10	%		0.11	%		0.10	%		0.11	%		0.09	%		0.08	%
Total receivables - GSBS	$	16.2		$	16.1		$	15.9		$	15.2		$	14.6		$	14.3		$	13.8		$	13.7		$	13.2
30+ days past due as a % of total - GSBS		1.8	%		1.6	%		1.4	%		1.4	%		1.6	%		1.6	%		1.5	%		1.4	%		1.6	%
Net write-off rate (principal only) - GSBS (D)		1.7	%		1.5	%		1.5	%		1.6	%		1.8	%		1.2	%		1.3	%		1.6	%		1.8	%
Net write-off rate (principal and fees) - GSBS (D)		1.9	%		1.7	%		1.7	%		1.8	%		2.0	%		1.4	%		1.5	%		1.9	%		2.1	%

Please see Appendix V for footnote references

-2-

Global Merchant & Network Services	(Preliminary)
Selected Income Statement and Statistical Information
(Millions, except percentages)

	Q1'18			Q4'17			Q3'17			Q2'17			Q1'17			Q4'16			Q3'16			Q2'16			Q1'16
Non-interest revenues	$	1,532		$	1,554		$	1,491		$	1,518		$	1,462		$	1,523		$	1,478		$	1,575		$	1,517
Interest income		9			10			8			9			15			10			9			5			13
Interest expense		(59	)		(55	)		(48	)		(47	)		(38	)		(31	)		(32	)		(36	)		(34	)
Net interest income		68			65			56			56			53			41			41			41			47
Total revenues net of interest expense		1,600			1,619			1,547			1,574			1,515			1,564			1,519			1,616			1,564
Provisions for losses		5			4			9			1			2			2			10			(2	)		14
Total revenues net of interest expense after provisions for losses		1,595			1,615			1,538			1,573			1,513			1,562			1,509			1,618			1,550
Expenses
Marketing, business development, rewards, Card Member services		267			332			292			314			289			422			361			397			369
Salaries and employee benefits and other operating expenses		620			617			685			515			550			606			548			573			572
Total expenses		887			949			977			829			839			1,028			909			970			941
Pretax segment income		708			666			561			744			674			534			600			648			609
Income tax provision		192			207			141			268			241			175			220			240			226
Segment income	$	516		$	459		$	420		$	476		$	433		$	359		$	380		$	408		$	383
Effective tax rate		27.1	%		31.1	%		25.1	%		36.0	%		35.8	%		32.8	%		36.7	%		37.0	%		37.1	%
Loyalty Coalition Revenue	$	111		$	121		$	115		$	114		$	102		$	105		$	106		$	104		$	94
(Billions, except percentages and where indicated)
Average discount rate (H)		2.37	%		2.37	%		2.40	%		2.42	%		2.43	%		2.42	%		2.45	%		2.41	%		2.42	%
Segment assets (C)	$	30.9		$	30.5		$	27.8		$	26.7		$	25.9		$	25.8		$	24.3		$	25.2		$	25.3

Please see Appendix V for footnote references

-3-

American Express Company *	(Preliminary)
Appendix I
Consolidated Statements of Income
(Millions, except percentages and per share amounts)

	Q1'18			Q4'17			Q3'17			Q2'17			Q1'17			Q4'16			Q3'16			Q2'16			Q1'16
Non-interest revenues
Discount revenue	$	5,889		$	6,060		$	5,700		$	5,743		$	5,387		$	5,640		$	5,408		$	5,801		$	5,528
Net card fees		830			785			786			771			748			725			747			715			699
Other fees and commissions		781			778			755			746			711			663			686			691			678
Other		377			345			372			379			361			421			409			421			427
Total non-interest revenues		7,877			7,968			7,613			7,639			7,207			7,449			7,250			7,628			7,332
Interest income
Interest on loans		2,326			2,205			2,131			1,950			1,862			1,762			1,692			1,820			1,940
Interest and dividends on investment securities		21			21			22			23			23			27			34			34			36
Deposits with banks and other		115			93			92			81			60			35			40			33			31
Total interest income		2,462			2,319			2,245			2,054			1,945			1,824			1,766			1,887			2,007
Interest expense
Deposits		270			241			213			176			149			148			150			150			150
Long-term debt and other		351			339			355			345			294			266			280			286			275
Total interest expense		621			580			568			521			443			414			430			436			425
Net interest income		1,841			1,739			1,677			1,533			1,502			1,410			1,336			1,451			1,582
Total revenues net of interest expense		9,718			9,707			9,290			9,172			8,709			8,859			8,586			9,079			8,914
Provisions for losses
Charge card		242			205			214			163			213			200			174			153			169
Card Member loans		499			596			531			404			337			404			319			285			227
Other		34			33			25			16			23			22			11			24			39
Total provisions for losses		775			834			770			583			573			626			504			462			435
Total revenues net of interest expense after provisions for losses		8,943			8,873			8,520			8,589			8,136			8,233			8,082			8,617			8,479
Expenses
Marketing and business development		1,345			1,535			1,446			1,456			1,285			1,859			1,548			1,481			1,361
Card Member rewards		2,347			2,262			2,168			2,196			2,061			2,034			1,816			2,032			1,937
Card Member services		409			383			351			341			317			279			274			272			275
Salaries and employee benefits		1,326			1,436			1,265			1,293			1,264			1,207			1,263			1,451			1,338
Professional services		457			534			494			511			501			703			614			607			584
Occupancy and equipment		520			493			567			484			474			506			429			437			465
Other, net		457			432			398			351			395			512			402			(630	)		313
Total expenses		6,861			7,075			6,689			6,632			6,297			7,100			6,346			5,650			6,273
Pretax income		2,082			1,798			1,831			1,957			1,839			1,133			1,736			2,967			2,206
Income tax provision		448			3,004			472			613			588			324			594			982			767
Net income (loss)	$	1,634		$	(1,206	)	$	1,359		$	1,344		$	1,251		$	809		$	1,142		$	1,985		$	1,439
Net income (loss) attributable to common shareholders (I)	$	1,600		$	(1,228	)	$	1,327		$	1,314		$	1,220		$	784		$	1,112		$	1,949		$	1,407
Effective tax rate		21.5	%		167.1	%		25.8	%		31.3	%		32.0	%		28.6	%		34.2	%		33.1	%		34.8	%
Earnings Per Common Share
Basic
Net income (loss) attributable to common shareholders	$	1.86		$	(1.42	)	$	1.51		$	1.48		$	1.36		$	0.86		$	1.21		$	2.08		$	1.46
Average common shares outstanding		859			865			878			890			899			910			920			938			961
Diluted
Net income (loss) attributable to common shareholders	$	1.86		$	(1.42	)	$	1.51		$	1.47		$	1.35		$	0.86		$	1.21		$	2.07		$	1.46
Average common shares outstanding		861			865			881			893			903			913			923			941			963
Cash dividends declared per common share	$	0.35		$	0.35		$	0.35		$	0.32		$	0.32		$	0.32		$	0.32		$	0.29		$	0.29
* The Company's Consolidated Statements of Income have not been affected by the previously mentioned segment and allocation changes.

Please see Appendix V for footnote references
 

-4-

American Express Company	(Preliminary)
Appendix II
Selected Statistical Information
(Billions, except percentages and where indicated)

	Q1'18			Q4'17			Q3'17			Q2'17			Q1'17			Q4'16			Q3'16			Q2'16			Q1'16
Card billed business (A)
United States	$	182.5		$	188.9		$	176.4		$	177.6		$	165.4		$	174.4		$	164.6		$	185.1		$	176.3
Outside the United States		101.3			102.5			95.5			92.0			86.9			88.8			86.6			84.2			77.5
Total	$	283.8		$	291.4		$	271.9		$	269.6		$	252.3		$	263.2		$	251.2		$	269.3		$	253.8
Proprietary	$	236.9		$	242.6		$	225.3		$	223.8		$	208.9		$	218.6		$	206.4		$	225.5		$	213.3
Global Network Services (GNS)		46.9			48.8			46.6			45.8			43.4			44.6			44.8			43.8			40.5
Total	$	283.8		$	291.4		$	271.9		$	269.6		$	252.3		$	263.2		$	251.2		$	269.3		$	253.8
Cards-in-force (millions) (B)
United States		51.3			50.0			49.5			48.9			48.2			47.5			47.1			47.0			57.9
Outside the United States		62.9			62.8			63.4			63.3			63.0			62.4			61.7			61.2			60.7
Total		114.2			112.8			112.9			112.2			111.2			109.9			108.8			108.2			118.6
Proprietary		66.4			64.6			63.9			63.0			62.2			61.3			60.7			60.2			70.9
GNS		47.8			48.2			49.0			49.2			49.0			48.6			48.1			48.0			47.7
Total		114.2			112.8			112.9			112.2			111.2			109.9			108.8			108.2			118.6
Basic cards-in-force (millions) (B)
United States		40.4			39.4			39.0			38.6			38.1			37.4			37.0			37.0			45.1
Outside the United States		52.4			52.2			52.7			52.6			52.2			51.7			51.1			50.5			50.0
Total		92.8			91.6			91.7			91.2			90.3			89.1			88.1			87.5			95.1
Average proprietary basic Card Member spending (dollars)
United States	$	5,015		$	5,300		$	5,018		$	5,128		$	4,859		$	5,181		$	4,937		$	4,672		$	4,249
Outside the United States	$	3,869		$	3,918		$	3,598		$	3,468		$	3,283		$	3,401		$	3,264		$	3,319		$	3,082
Total	$	4,677		$	4,890		$	4,596		$	4,633		$	4,387		$	4,647		$	4,433		$	4,313		$	3,952
Card Member loans
United States	$	63.9		$	64.5		$	59.9		$	58.5		$	56.6		$	58.3		$	53.9		$	53.2		$	50.7
Outside the United States		8.9			8.9			8.0			7.5			7.0			7.0			6.7			6.7			6.7
Total	$	72.8		$	73.4		$	67.9		$	66.0		$	63.6		$	65.3		$	60.6		$	59.9		$	57.4
Average discount rate (H)		2.37	%		2.37	%		2.40	%		2.42	%		2.43	%		2.42	%		2.45	%		2.41	%		2.42	%
Average fee per card (dollars) (J)	$	51		$	49		$	49		$	49		$	48		$	47		$	49		$	42		$	40
Worldwide Card Member loans:
Total loans	$	72.8		$	73.4		$	67.9		$	66.0		$	63.6		$	65.3		$	60.6		$	59.9		$	57.4
Loss reserves (millions):
Beginning balance	$	1,706		$	1,502		$	1,320		$	1,248		$	1,223		$	1,114		$	1,091		$	1,012		$	1,028
Provisions - principal, interest and fees		499			596			531			404			337			404			319			285			227
Net write-offs - principal less recoveries		(358	)		(325	)		(299	)		(285	)		(272	)		(243	)		(250	)		(223	)		(214	)
Net write-offs - interest and fees less recoveries		(71	)		(64	)		(57	)		(55	)		(51	)		(47	)		(48	)		(40	)		(40	)
Other (K)		10			(3	)		7			8			11			(5	)		2			57			11
Ending balance	$	1,786		$	1,706		$	1,502		$	1,320		$	1,248		$	1,223		$	1,114		$	1,091		$	1,012
Ending reserves - principal	$	1,691		$	1,622		$	1,427		$	1,247		$	1,179		$	1,160		$	1,050		$	1,037		$	959
Ending reserves - interest and fees	$	95		$	84		$	75		$	73		$	69		$	63		$	64		$	54		$	53
% of loans		2.5	%		2.3	%		2.2	%		2.0	%		2.0	%		1.9	%		1.8	%		1.8	%		1.8	%
% of past due		174	%		177	%		174	%		167	%		158	%		161	%		160	%		160	%		161	%
Average loans	$	72.7		$	70.1		$	67.1		$	65.1		$	63.9		$	62.6		$	60.3		$	58.8		$	57.4
Net write-off rate (principal only) (D)		2.0	%		1.8	%		1.8	%		1.8	%		1.7	%		1.6	%		1.7	%		1.5	%		1.5	%
Net write-off rate (principal, interest and fees) (D)		2.4	%		2.2	%		2.1	%		2.1	%		2.0	%		1.9	%		2.0	%		1.8	%		1.8	%
30+ days past due loans as a % of total		1.4	%		1.3	%		1.3	%		1.2	%		1.2	%		1.2	%		1.1	%		1.1	%		1.1	%
Net interest income divided by average Card Member loans (E)		10.1	%		9.9	%		10.0	%		9.4	%		9.4	%		9.0	%		8.9	%		8.6	%		8.9	%
Net interest yield on average Card Member loans (E)		10.8	%		10.5	%		10.7	%		10.3	%		10.3	%		9.8	%		9.8	%		9.4	%		9.7	%
Worldwide Card Member receivables:
Total receivables	$	54.2		$	54.0		$	51.5		$	49.4		$	47.6		$	47.3		$	45.3		$	45.2		$	44.5
Loss reserves (millions):
Beginning balance	$	521		$	512		$	475		$	491		$	467		$	437		$	423		$	446		$	462
Provisions - principal		242			205			214			163			213			200			174			153			169
Net write-offs - principal less recoveries		(199	)		(188	)		(175	)		(179	)		(194	)		(156	)		(159	)		(173	)		(186	)
Other (K)		1			(8	)		(2	)		-			5			(14	)		(1	)		(3	)		1
Ending balance	$	565		$	521		$	512		$	475		$	491		$	467		$	437		$	423		$	446
% of receivables		1.0	%		1.0	%		1.0	%		1.0	%		1.0	%		1.0	%		1.0	%		0.9	%		1.0	%
Net write-off rate, excluding Global Corporate Payments (GCP) (principal only) (D)		1.6	%		1.5	%		1.5	%		1.5	%		1.7	%		1.3	%		1.4	%		1.6	%		1.9	%
Net write-off rate, excluding GCP (principal and fees) (D)		1.8	%		1.6	%		1.7	%		1.7	%		2.0	%		1.5	%		1.6	%		1.8	%		2.1	%
30+ days past due as a % of total, excluding GCP		1.5	%		1.4	%		1.3	%		1.3	%		1.5	%		1.4	%		1.4	%		1.3	%		1.5	%
GCP Net loss ratio (as a % of charge volume) (G)		0.10	%		0.11	%		0.09	%		0.10	%		0.11	%		0.10	%		0.11	%		0.09	%		0.08	%
GCP 90+ days past billing as a % of total (G)		0.8	%		0.9	%		0.9	%		0.8	%		0.7	%		0.9	%		0.8	%		0.7	%		0.7	%

Please see Appendix V for footnote references

-5-

American Express Company	(Preliminary)
Appendix III
Billed Business Growth Trend

	YOY % change
	Reported									FX-Adjusted (L)
	Q1'18	Q4'17	Q3'17	Q2'17	Q1'17	Q4'16	Q3'16	Q2'16	Q1'16	Q1'18	Q4'17	Q3'17	Q2'17	Q1'17	Q4'16	Q3'16	Q2'16	Q1'16
Worldwide (M)
Billed Business	12%	11%	8%	-	(1%)	(4%)	(3%)	3%	3%	10%	9%	8%	1%	-	(3%)	(3%)	4%	6%
Proprietary billed business	13	11	9	(1)	(2)	(5)	(5)	2	3	11	10	9	-	(2)	(4)	(5)	3	4
GNS	8	9	4	5	7	3	10	5	5	3	6	4	5	6	4	10	11	13
Airline-related volume (9% of Q1'18 worldwide billed business)	10	7	5	1	1	(3)	(6)	(4)	(4)	6	4	3	1	2	(1)	(5)	(3)	(2)
United States (M)
Billed Business	10	8	7	(4)	(6)	(8)	(9)	2	4	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Proprietary consumer card billed business (N)	11	8	7	(9)	(13)	(14)	(15)	-	4	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Proprietary small business and corporate services billed business (O)	10	9	9	4	2	1	(1)	4	5	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
T&E-related volume (27% of Q1'18 U.S. billed business)	8	6	3	(3)	(5)	(6)	(7)	(1)	1	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Non-T&E-related volume (73% of Q1'18 U.S. billed business)	11	9	8	(4)	(7)	(9)	(9)	3	5	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Airline-related volume (8% of Q1'18 U.S. billed business)	7	5	2	(1)	(4)	(6)	(11)	(8)	(5)	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Outside the United States (M)
Billed Business	17	15	10	9	12	7	10	5	2	9	10	9	11	13	11	11	10	9
Japan, Asia Pacific & Australia ("JAPA") billed business	16	15	8	12	16	14	22	12	8	10	11	9	13	14	13	16	13	13
Latin America & Canada ("LACC") billed business	12	11	10	8	10	1	-	(9)	(14)	11	8	8	9	9	7	7	6	5
Europe, Middle East & Africa ("EMEA") billed business	20	19	13	7	7	1	2	3	3	7	10	10	10	12	9	7	6	8
Proprietary consumer card billed business (N)	25	20	15	9	8	4	6	4	1	16	14	13	12	11	10	8	8	8
Proprietary small business and corporate services billed business  (O)	23	19	14	8	13	7	6	3	(3)	14	13	11	10	14	11	6	6	4

Please see Appendix V for footnote references

-6-

American Express Company	(Preliminary)
Appendix IV
Net Interest Yield on Average Card Member Loans
(Millions, except percentages and where indicated)

	Q1'18			Q4'17			Q3'17			Q2'17			Q1'17			Q4'16			Q3'16			Q2'16			Q1'16
Consolidated
Net interest income	$	1,841		$	1,739		$	1,677		$	1,533		$	1,502		$	1,410		$	1,336		$	1,451		$	1,582
Exclude:
Interest expense not attributable to the Company's Card Member loan portfolio (P)		302			297			309			295			247			231			255			238			230
Interest income not attributable to the Company's Card Member loan portfolio (Q)		(213	)		(177	)		(174	)		(156	)		(131	)		(94	)		(105	)		(103	)		(104	)
Adjusted net interest income (R)	$	1,930		$	1,859		$	1,812		$	1,672		$	1,618		$	1,547		$	1,486		$	1,586		$	1,708
Average Card Member loans (billions)	$	72.7		$	70.1		$	67.1		$	65.1		$	63.9		$	62.6		$	60.3		$	67.6		$	70.8
Net interest income divided by average Card Member loans (S)		10.1	%		9.9	%		10.0	%		9.4	%		9.4	%		9.0	%		8.9	%		8.6	%		8.9	%
Net interest yield on average Card Member loans (T)		10.8	%		10.5	%		10.7	%		10.3	%		10.3	%		9.8	%		9.8	%		9.4	%		9.7	%
Global Consumer Services Group
Net interest income	$	1,622		$	1,542		$	1,499		$	1,369		$	1,331		$	1,265		$	1,206		$	1,298		$	1,408
Exclude:
Interest expense not attributable to the Company's Card Member loan portfolio (P)	$	54		$	62		$	60		$	53		$	43		$	42		$	48		$	40			40
Interest income not attributable to the Company's Card Member loan portfolio (Q)		(41	)		(32	)		(32	)		(25	)		(20	)		(5	)		(2	)		(7	)		(8	)
Adjusted net interest income (R)	$	1,635		$	1,572		$	1,527		$	1,397		$	1,354		$	1,302		$	1,252		$	1,331		$	1,440
Average Card Member loans (billions)	$	61.6		$	59.2		$	56.5		$	54.8		$	54.2		$	53.3		$	51.5		$	57.5		$	60.6
Net interest income divided by average Card Member loans (S)		10.5	%		10.4	%		10.6	%		10.0	%		9.8	%		9.5	%		9.4	%		9.0	%		9.3	%
Net interest yield on average Card Member loans (T)		10.8	%		10.5	%		10.7	%		10.2	%		10.1	%		9.7	%		9.7	%		9.3	%		9.6	%
Global Commercial Services
Net interest income	$	206		$	189		$	192		$	189		$	196		$	176		$	165		$	187		$	209
Exclude:
Interest expense not attributable to the Company's Card Member loan portfolio (P)		126			128			122			114			96			97			97			97			89
Interest income not attributable to the Company's Card Member loan portfolio (Q)		(37	)		(30	)		(29	)		(28	)		(28	)		(28	)		(28	)		(29	)		(30	)
Adjusted net interest income (R)	$	295		$	287		$	285		$	275		$	264		$	245		$	234		$	255		$	268
Average Card Member loans (billions)	$	11.2		$	10.9		$	10.5		$	10.2		$	9.7		$	9.3		$	8.8		$	10.0		$	10.3
Net interest income divided by average Card Member loans (S)		7.4	%		6.9	%		7.3	%		7.4	%		8.1	%		7.6	%		7.5	%		7.5	%		8.1	%
Net interest yield on average Card Member loans (T)		10.7	%		10.4	%		10.7	%		10.8	%		11.0	%		10.5	%		10.5	%		10.2	%		10.5	%

Please see Appendix V for footnote references
 

-7-

Appendix V (Preliminary)

All Information in the preceding tables is presented on a basis prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), unless otherwise indicated.  Certain reclassifications of prior period amounts have been made to conform to the current period presentation. 

(A)	Card billed business includes activities (including cash advances) related to cards and other payment products issued by American Express ("proprietary card billed business") and cards issued under network partnership agreements with banks and other institutions, including joint ventures ("GNS card billed business").  Card billed business is reflected in the United States or outside the United States based on where the issuer is located.
(B)	Cards-in-force represents the number of cards that are issued and outstanding, except for retail cobrand cards that have no out-of-store spend activity during the prior 12-month period.- Basic cards-in-force represents proprietary and GNS consumer cards issued to primary account owners (i.e., not including additional supplemental cards issued on accounts), and all small business and corporate cards.
(C)	Includes changes in certain corporate allocations that are not directly attributable to our new segment structure.
(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 IV for calculations of net interest yield on average Card Member loans, a non-GAAP measure, and net interest income divided by average Card Member loans, a GAAP measure, and the Company's rationale for presenting net interest yield on average Card Member loans.
(F)	Effective Q3'17, GSBS loans and associated metrics reflect worldwide small business services loans.  Prior to Q3'17, due to certain system limitations, small business services loans outside the U.S. and associated credit metrics are reflected within GCSG, and were not significant to either GCSG or GCS.
(G)	GCP reflects global, large and middle market corporate accounts.
(H)	This calculation is generally designed to reflect pricing at merchants accepting general-purpose American Express cards.  It represents the percentage of billed business (generated from both proprietary and GNS Card Member spending) retained by the Company from merchants it acquires, or for merchants acquired by a third party on its behalf, net of amounts retained by such third party.  Effective January 1, 2018, the Company began including billings volumes related to certain business-to-business products in the calculation of the average discount rate to reflect our expanding business-to-business product offerings.  Prior periods have been conformed to the current period presentation.
(I)	Represents net income (loss), less (i) earnings allocated to participating share awards of $13 million, $2 million, $11 million, $11 million, $10 million, $6 million, $9 million, $17 million and $11 million in Q1'18, Q4'17, Q3'17, Q2'17, Q1'17, Q4'16, Q3'16, Q2'16 and Q1'16, respectively; and (ii) dividends on preferred shares of $21 million, $20 million, $21 million, $19 million, $21 million, $19 million, $21 million, $19 million and $21 million in Q1'18, Q4'17, Q3'17, Q2'17, Q1'17, Q4'16, Q3'16, Q2'16 and Q1'16, respectively.
(J)	Average fee per card is computed based on proprietary basic net card fees divided by average worldwide proprietary basic cards-in-force.
(K)	Other includes foreign currency translation adjustments.
(L)	FX-adjusted information assumes a constant exchange rate between the periods being compared for purposes of currency translation into U.S. dollars (i.e., assumes the foreign exchange rates used to determine results for Q1'18 apply to the period(s) against which such results are being compared).
(M)	Captions not designated as “proprietary” or “GNS” include both proprietary and GNS data.
(N)	Included in GCSG.
(O)	Included in GCS.
(P)	Primarily represents interest expense attributable to maintaining our corporate liquidity pool and funding Card Member receivables.
(Q)	Primarily represents interest income attributable to Other loans, interest-bearing deposits and our Travelers Cheque and other stored-value investment portfolios.
(R)	Adjusted net interest income, a non-GAAP measure that represents net interest income attributable to our Card Member loans (which includes, on a GAAP basis, interest that is deemed uncollectible), excluding the impact of interest expense and interest income not attributable to our Card Member loans.  The Company believes adjusted net interest income is useful to investors because it represents the interest expense and interest income attributable to our Card Member loan portfolio and is a component of net interest yield on average Card Member loans, which provides a measure of profitability of our Card Member loan portfolio.
(S)	Net interest income divided by average Card Member loans, computed on an annualized basis, a GAAP measure, 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 average Card Member loans.
(T)	Net interest yield on average Card Member loans, a non-GAAP measure that is computed by dividing adjusted net interest income by average Card Member loans, computed on an annualized basis.  Reserves and net write-offs related to uncollectible interest are recorded through provisions for losses and are thus not included in the net interest yield calculation.  The Company believes net interest yield on average Card Member loans is useful to investors because it provides a measure of profitability of the Company's Card Member loan portfolio.

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