American Express (AXP) 10-Q 23 Apr 21 2021 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2021	Apr. 19, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	1-7657
Entity Registrant Name	AMERICAN EXPRESS COMPANY
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-4922250
Entity Address, Address Line One	200 Vesey Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10285
City Area Code	212
Local Phone Number	640-2000
Title of 12(b) Security	Common shares (par value $0.20 per share)
Trading Symbol	AXP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		803,302,859
Entity Central Index Key	0000004962
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Non-interest revenues
Non-interest revenues		$ 7,234	$ 7,980
Interest income
Interest on loans		2,144	2,909
Interest and dividends on investment securities		24	38
Deposits with banks and other		24	99
Total interest income		2,192	3,046
Interest expense
Deposits		134	326
Long-term debt and other		228	390
Total interest expense		362	716
Net interest income		1,830	2,330
Total revenues net of interest expense		9,064	10,310
Provisions for credit losses
Provisions		(675)	2,621
Total revenues net of interest expense after provisions for credit losses		9,739	7,689
Expenses
Marketing and business development		1,766	1,705
Card Member rewards		2,243	2,392
Card Member services		317	456
Salaries and employee benefits		1,550	1,395
Other, net		870	1,289
Total expenses		6,746	7,237
Pretax income		2,993	452
Income tax provision		758	85
Net income		$ 2,235	$ 367
Earnings per Common Share
Basic (in dollars per share)	[1]	$ 2.74	$ 0.41
Diluted (in dollars per share)	[1]	$ 2.74	$ 0.41
Average common shares outstanding for earnings per common share:
Basic (in shares)		804	807
Diluted (in shares)		805	808
Card Member Receivables
Provisions for credit losses
Provisions		$ (10)	$ 597
Card Member Loans
Provisions for credit losses
Provisions		(573)	1,876
Other Loans
Provisions for credit losses
Provisions		(92)	148
Discount revenue
Non-interest revenues
Non-interest revenues		5,242	5,838
Net card fees
Non-interest revenues
Non-interest revenues		1,253	1,110
Other fees and commissions
Non-interest revenues
Non-interest revenues		520	720
Other
Non-interest revenues
Non-interest revenues		$ 219	$ 312
[1]	Represents net income less (i) earnings allocated to participating share awards of $15 million and $2 million for the three months ended March 31, 2021 and 2020, respectively, and (ii) dividends on preferred shares of $14 million and $32 million for the three months ended March 31, 2021 and 2020, respectively.

Consolidated Statements of In_2

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Earnings allocated to participating share awards	$ 15	$ 2
Dividends on preferred shares	$ 14	$ 32

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 2,235	$ 367
Other comprehensive income (loss):
Net unrealized debt securities (losses) gains, net of tax	(12)	57
Foreign currency translation adjustments, net of tax	(17)	(322)
Net unrealized pension and other postretirement benefits, net of tax	26	6
Other comprehensive income (loss)	(3)	(259)
Comprehensive income	$ 2,232	$ 108

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Cash and cash equivalents
Cash and due from banks	$ 2,662	$ 2,984
Interest-bearing deposits in other banks (includes securities purchased under resale agreements: 2021, $119; 2020, $92)	37,405	29,824
Short-term investment securities (includes restricted cash of consolidated variable interest entities: 2021, $46; 2020, $47)	213	157
Total cash and cash equivalents	40,280	32,965
Investment securities	21,270	21,631
Premises and equipment, less accumulated depreciation and amortization: 2021, $7,800; 2020, $7,540	4,943	5,015
Other assets, less reserves for credit losses: 2021, $67; 2020, $85	17,008	17,679
Total assets	193,067	191,367
Liabilities
Customer deposits	89,193	86,875
Accounts payable	8,585	9,444
Short-term borrowings	1,578	1,878
Long-term debt (includes debt issued by consolidated variable interest entities: 2021, $12,763; 2020, $12,760)	42,019	42,952
Other liabilities	27,243	27,234
Total liabilities	168,618	168,383
Contingencies (Note 7)
Shareholders’ Equity
Preferred shares, $1.662/3 par value, authorized 20 million shares; issued and outstanding 1,600 shares as of March 31, 2021 and December 31, 2020	0	0
Common shares, $0.20 par value, authorized 3.6 billion shares; issued and outstanding 803 million shares as of March 31, 2021 and 805 million shares as of December 31, 2020	161	161
Additional paid-in capital	11,878	11,881
Retained earnings	15,308	13,837
Accumulated other comprehensive income (loss)
Net unrealized debt securities gains (losses), net of tax	53	65
Foreign currency translation adjustments, net of tax	(2,246)	(2,229)
Net unrealized pension and other postretirement benefits, net of tax	(705)	(731)
Total accumulated other comprehensive income (loss)	(2,898)	(2,895)
Total shareholders’ equity	24,449	22,984
Total liabilities and shareholders’ equity	193,067	191,367
Card Member Receivables
Cash and cash equivalents
Financing receivables, net	41,800	43,434
Card Member Loans
Cash and cash equivalents
Financing receivables, net	65,633	68,029
Other Loans
Cash and cash equivalents
Financing receivables, net	$ 2,133	$ 2,614

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Cash and cash equivalents
Securities purchased under resale agreements	$ 119	$ 92
Restricted cash	527	606
Accumulated depreciation and amortization	7,800	7,540
Other assets, reserves for credit losses	67	85
Liabilities
Long-term debt	$ 42,019	$ 42,952
Shareholders’ Equity
Preferred shares, par value (in dollars per share)	$ 1.667	$ 1.667
Preferred shares, authorized	20,000,000	20,000,000
Preferred shares, issued	1,600	1,600
Preferred shares, outstanding	1,600	1,600
Common shares, par value (in dollars per share)	$ 0.20	$ 0.20
Common shares, authorized	3,600,000,000	3,600,000,000
Common shares, issued	803,000,000	805,000,000
Common shares, outstanding	803,000,000	805,000,000
Accumulated other comprehensive income (loss)
Net unrealized debt securities, tax	$ 17	$ 20
Foreign currency translation adjustments, tax	(373)	(381)
Net unrealized pension and other postretirement benefits, tax	(225)	(236)
Card Member Receivables
Cash and cash equivalents
Financing receivables, gross	42,002	43,701
Allowance for credit losses	202	267
Card Member Loans
Cash and cash equivalents
Financing receivables, gross	70,100	73,373
Allowance for credit losses	4,467	5,344
Other Loans
Cash and cash equivalents
Allowance for credit losses	143	238
Variable Interest Entity, Primary Beneficiary
Cash and cash equivalents
Restricted cash	46	47
Liabilities
Long-term debt	12,763	12,760
Variable Interest Entity, Primary Beneficiary | Card Member Receivables
Cash and cash equivalents
Financing receivables, gross	4,221	4,296
Variable Interest Entity, Primary Beneficiary | Card Member Loans
Cash and cash equivalents
Financing receivables, gross	$ 24,088	$ 25,908

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows from Operating Activities
Net income	$ 2,235	$ 367
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provisions for credit losses	(675)	2,621
Depreciation and amortization	422	337
Deferred taxes and other	(81)	333
Stock-based compensation	98	43
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
Other assets	477	309
Accounts payable & other liabilities	(196)	(6,229)
Net cash provided by (used in) operating activities	2,280	(2,219)
Cash Flows from Investing Activities
Sale of investment securities	37	0
Maturities and redemptions of investment securities	553	4,376
Purchase of investments	(366)	(997)
Net decrease in Card Member loans and receivables, and other loans	4,869	18,883
Purchase of premises and equipment, net of sales: 2021, $3; 2020, nil	(319)	(335)
Net cash provided by investing activities	4,774	21,927
Cash Flows from Financing Activities
Net increase in customer deposits	2,327	4,701
Net decrease in short-term borrowings	(271)	(2,880)
Payments of long-term debt	(750)	(5,849)
Issuance of American Express common shares	31	16
Repurchase of American Express common shares and other	(513)	(1,023)
Dividends paid	(363)	(383)
Net cash provided by (used in) financing activities	461	(5,418)
Effect of foreign currency exchange rates on cash and cash equivalents	(200)	(128)
Net increase in cash and cash equivalents	7,315	14,162
Cash and cash equivalents at beginning of period	32,965	24,446
Cash and cash equivalents at end of period	$ 40,280	$ 38,608

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Statement of Cash Flows [Abstract]
Sales of premises and equipment	$ 3	$ 0
Cash, cash equivalents and restricted cash reconciliation
Total cash and cash equivalents	40,280	38,608	$ 32,965	$ 24,446
Restricted cash included in Cash and cash equivalents	527	2,513	606	514
Total cash, cash equivalents excluding restricted cash	$ 39,753	$ 36,095	$ 32,359	$ 23,932

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	[1]	Preferred Shares	Common Shares	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	[1]	Series B Preferred Stock	Series B Preferred StockRetained Earnings	Series C Preferred Stock	Series C Preferred StockRetained Earnings
Beginning Balance at Dec. 31, 2019	$ 23,071	$ (882)		$ 0	$ 163	$ 11,774	$ (2,737)	$ 13,871	$ (882)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	367							367
Other comprehensive loss	(259)						(259)	0
Repurchase of common shares	(875)				(2)	(105)		(768)
Other changes, primarily employee plans	(36)					11		(47)
Cash dividends declared preferred											$ (11)	$ (11)	$ (21)	$ (21)
Cash dividends declared common	(348)							(348)
Ending Balance at Mar. 31, 2020	21,006			0	161	11,680	(2,996)	12,161
Beginning Balance at Dec. 31, 2020	22,984			0	161	11,881	(2,895)	13,837
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,235							2,235
Other comprehensive loss	(3)						(3)	0
Repurchase of common shares	(438)				(1)	(49)		(388)
Other changes, primarily employee plans	32				1	46		(15)
Cash dividends declared preferred											$ (7)	$ (7)	$ (7)	$ (7)
Cash dividends declared common	(347)							(347)
Ending Balance at Mar. 31, 2021	$ 24,449			$ 0	$ 161	$ 11,878	$ (2,898)	$ 15,308
[1]	Represents $1,170 million, net of tax of $288 million, related to the impact as of January 1, 2020 of adopting the current expected credit loss methodology for the recognition of credit losses on certain financial instruments.

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2019
Cash dividends declared
Common stock, dividend per share (in dollars per share)	$ 0.43	$ 0.43
Cumulative Effect, Period of Adoption, Adjustment
Cash dividends declared
Impact of new accounting guidance, net of tax			$ 1,170
Impact of new accounting guidance, tax			$ 288
Series B Preferred Stock
Cash dividends declared
Preferred stock, dividend per share (in dollars per share)	12.43	14.09
Series C Preferred Stock
Cash dividends declared
Preferred stock, dividend per share (in dollars per share)	$ 10.30	$ 24.50

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The Company We are a globally integrated payments company that provides our customers with access to products, insights and experiences that enrich lives and build business success. Our principal products and services are credit and charge card products, along with travel and lifestyle related services, offered to consumers and businesses around the world. Business travel-related services are offered through our non-consolidated joint venture, American Express Global Business Travel. Our various products and services are sold globally to diverse customer groups, including consumers, small businesses, mid-sized companies and large corporations. These products and services are sold through various channels, including mobile and online applications, affiliate marketing, customer referral programs, third-party vendors and business partners, direct mail, telephone, in-house sales teams, and direct response advertising. The accompanying Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2020. If not materially different, certain note disclosures included therein have been omitted from these Consolidated Financial Statements. The interim Consolidated Financial Statements included in this report have not been audited. In the opinion of management, all adjustments, which consist of normal recurring adjustments necessary for a fair statement of the interim Consolidated Financial Statements, have been made. Results of operations reported for interim periods are not necessarily indicative of results for the entire year. The preparation of Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosures of contingent assets and liabilities. These accounting estimates reflect the best judgment of management, but actual results could differ. Recently Adopted Accounting Standards Effective January 1, 2021, we elected to change our accounting for investments in qualified affordable housing projects from the equity method of accounting to the proportional amortization method (PAM) in accordance with the accounting guidance. PAM results in the amortization of the initial cost of the investment in proportion to the related tax credits, and recognition of the net investment performance in the statement of income as a component of Income tax provision, while the equity method reflected losses related to the investments as a component of Other, net expenses. As a result, we believe PAM is preferable as it better reflects the economics of our tax credit investments. Since the impact of this change is immaterial to our prior and current period financial statements, we implemented PAM on a prospective basis which resulted in a one-time charge to Income tax provision of $55 million, reflecting the cumulative impact of the difference in the timing of expense recognition between the equity method and PAM.

Loans and Card Member Receivabl

Loans and Card Member Receivables	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
Loans and Card Member Receivables	Loans and Card Member Receivables Our lending and charge payment card products result in the generation of Card Member loans and Card Member receivables. We also extend credit to consumer and commercial customers through non-card financing products, resulting in Other loans. Card Member loans by segment and Other loans as of March 31, 2021 and December 31, 2020 consisted of: (Millions) 2021 2020 Global Consumer Services Group (a) $ 56,265 $ 60,084 Global Commercial Services 13,835 13,289 Card Member loans 70,100 73,373 Less: Reserves for credit losses 4,467 5,344 Card Member loans, net $ 65,633 $ 68,029 Other loans, net (b) $ 2,133 $ 2,614 (a) Includes approximately $24.1 billion and $25.9 billion of gross Card Member loans available to settle obligations of a consolidated variable interest entity (VIE) as of March 31, 2021 and December 31, 2020, respectively. (b) Other loans represent consumer and commercial non-card financing products, and Small Business Administration Paycheck Protection Program (PPP) loans. There were $0.5 billion and $0.6 billion of gross PPP loans outstanding as of March 31, 2021 and December 31, 2020, respectively. Other loans are presented net of reserves for credit losses of $143 million and $238 million as of March 31, 2021 and December 31, 2020, respectively. Card Member receivables by segment as of March 31, 2021 and December 31, 2020 consisted of: (Millions) 2021 2020 Global Consumer Services Group $ 17,228 $ 18,685 Global Commercial Services (a) 24,774 25,016 Card Member receivables 42,002 43,701 Less: Reserves for credit losses 202 267 Card Member receivables, net $ 41,800 $ 43,434 (a) Includes $4.2 billion and $4.3 billion of gross Card Member receivables available to settle obligations of a consolidated VIE as of March 31, 2021 and December 31, 2020, respectively. Card Member Loans and Receivables Aging Generally, a Card Member account is considered past due if payment is not received within 30 days after the billing statement date. The following table presents the aging of Card Member loans and receivables as of March 31, 2021 and December 31, 2020: 2021 (Millions) Current 30-59 60-89 90+ Total Card Member Loans: Global Consumer Services Group $ 55,728 $ 139 $ 106 $ 292 $ 56,265 Global Commercial Services Global Small Business Services 13,682 24 18 38 13,762 Global Corporate Payments (a) (b) (b) (b) — 73 Card Member Receivables: Global Consumer Services Group 17,129 29 20 50 17,228 Global Commercial Services Global Small Business Services $ 14,191 $ 33 $ 21 $ 32 $ 14,277 Global Corporate Payments (a) (b) (b) (b) $ 47 $ 10,497 2020 (Millions) Current 30-59 60-89 90+ Total Card Member Loans: Global Consumer Services Group $ 59,442 $ 177 $ 148 $ 317 $ 60,084 Global Commercial Services Global Small Business Services 13,132 27 20 47 13,226 Global Corporate Payments (a) (b) (b) (b) — 63 Card Member Receivables: Global Consumer Services Group 18,570 33 26 56 18,685 Global Commercial Services Global Small Business Services $ 14,023 $ 37 $ 21 $ 38 $ 14,119 Global Corporate Payments (a) (b) (b) (b) $ 60 $ 10,897 (a) Global Corporate Payments (GCP) reflects global, large and middle market corporate accounts. Delinquency data is tracked based on days past billing status rather than days past due. A Card Member account is considered 90 days past billing if payment has not been received within 90 days of the Card Member’s billing statement date. In addition, if we initiate collection procedures on an account prior to the account becoming 90 days past billing, the associated Card Member loan or receivable balance is classified as 90 days past billing. These amounts are shown above as 90+ Days Past Due for presentation purposes. See also (b). (b) Delinquency data for periods other than 90+ days past billing is not available due to system constraints. Therefore, such data has not been utilized for risk management purposes. The balances that are current to 89 days past due can be derived as the difference between the Total and the 90+ Days Past Due balances. Credit Quality Indicators for Card Member Loans and Receivables The following tables present the key credit quality indicators as of or for the three months ended March 31: 2021 2020 Net Write-Off Rate Net Write-Off Rate Principal Only (a) Principal, Interest & Fees (a) 30+ Days Past Due as a % of Total Principal Only (a) Principal, Interest & Fees (a) 30+ Days Past Due as a % of Total Card Member Loans: Global Consumer Services Group 1.4 % 1.8 % 1.0 % 2.6 % 3.2 % 1.7 % Global Small Business Services 1.0 % 1.2 % 0.6 % 1.9 % 2.2 % 1.4 % Card Member Receivables: Global Consumer Services Group 0.5 % 0.6 % 0.6 % 2.0 % 2.2 % 1.7 % Global Small Business Services 0.5 % 0.5 % 0.6 % 2.2 % 2.5 % 2.0 % Global Corporate Payments (b) 0.4 % (c) (b) 1.0 % (c) (a) We present 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 we consider uncollectible interest and/or fees in estimating our reserves for credit losses, a net write-off rate including principal, interest and/or fees is also presented. (b) Net write-off rate based on principal losses only is not available due to system constraints. (c) For GCP Card Member receivables, delinquency data is tracked based on days past billing status rather than days past due. Delinquency data for periods other than 90+ days past billing is not available due to system constraints. 90+ Days Past Billing as a % of total was 0.4% and 1.1% as of March 31, 2021 and 2020, respectively. Refer to Note 3 for additional indicators, including external environmental qualitative factors, management considers in its evaluation process for reserves for credit losses. Impaired Loans and Receivables Impaired loans and receivables are individual larger balance or homogeneous pools of smaller balance loans and receivables for which it is probable that we will be unable to collect all amounts due according to the original contractual terms of the customer agreement. We consider impaired loans and receivables to include (i) loans over 90 days past due still accruing interest, (ii) non-accrual loans and (iii) loans and receivables modified as troubled debt restructurings (TDRs). In instances where the customer is experiencing financial difficulty, we may modify, through various financial relief programs, loans and receivables with the intention to minimize losses and improve collectability, while providing customers with temporary or permanent financial relief. We have classified loans and receivables in these modification programs as TDRs and continue to classify customer accounts that have exited a modification program as a TDR, with such accounts identified as “Out of Program TDRs.” The following tables provide additional information with respect to our impaired loans and receivables as of March 31, 2021 and December 31, 2020: As of March 31, 2021 Accounts Classified as a TDR (c) 2021 (Millions) Over 90 days Past Due & Accruing Interest (a) Non- Accruals (b) In Program (d) Out of Program (e) Total Reserve for Credit Losses - TDRs Card Member Loans: Global Consumer Services Group $ 183 $ 126 $ 1,550 $ 293 $ 2,152 $ 733 Global Commercial Services 17 22 452 84 575 252 Card Member Receivables: Global Consumer Services Group — — 219 41 260 64 Global Commercial Services — — 439 97 536 137 Other Loans (f) 1 1 196 7 205 65 Total $ 201 $ 149 $ 2,856 $ 522 $ 3,728 $ 1,251 As of December 31, 2020 Accounts Classified as a TDR (c) 2020 (Millions) Over 90 days Past Due & Accruing Interest (a) Non- Accruals (b) In Program (d) Out of Program (e) Total Reserve for Credit Losses - TDRs Card Member Loans: Global Consumer Services Group $ 203 $ 146 $ 1,586 $ 248 $ 2,183 $ 782 Global Commercial Services 21 29 478 67 595 285 Card Member Receivables: Global Consumer Services Group — — 240 34 274 60 Global Commercial Services — — 534 75 609 139 Other Loans (f) 2 1 248 6 257 80 Total $ 226 $ 176 $ 3,086 $ 430 $ 3,918 $ 1,346 (a) Our policy is generally to accrue interest through the date of write-off (typically 180 days past due). We establish reserves for interest that we believe will not be collected. Amounts presented exclude loans classified as a TDR. (b) Non-accrual loans not in modification programs primarily include certain loans placed with outside collection agencies for which we have ceased accruing interest. Amounts presented exclude loans classified as TDRs. (c) Accounts classified as a TDR include $35 million and $32 million that are over 90 days past due and accruing interest and $12 million and $11 million that are non-accruals as of March 31, 2021 and December 31, 2020, respectively. (d) In Program TDRs include accounts that are currently enrolled in a modification program. (e) Out of Program TDRs include $395 million and $316 million of accounts that have successfully completed a modification program and $127 million and $114 million of accounts that were not in compliance with the terms of the modification programs as of March 31, 2021 and December 31, 2020, respectively. (f) Other loans primarily represent consumer and commercial non-card financing products. Loans and Receivables Modified as TDRs The following tables provide additional information with respect to loans and receivables that entered a financial relief program and were modified as TDRs during the three months ended March 31, 2021 and 2020: Three Months Ended Number of Account Balances (millions) (a) Average Interest Average Payment Troubled Debt Restructurings: Card Member Loans 38 $ 287 13 (b) Card Member Receivables 7 117 (c) 18 Other Loans (d) 1 8 3 15 Total 46 $ 412 Three Months Ended Number of Account Balances (millions) (a) Average Interest Average Payment Troubled Debt Restructurings: Card Member Loans 24 $ 195 14 (b) Card Member Receivables 3 74 (c) 25 Total 27 $ 269 (a) Represents the outstanding balance immediately prior to modification. The outstanding balance includes principal, fees and accrued interest on loans and principal and fees on receivables. Modifications did not reduce the principal balance. (b) For Card Member loans, there have been no payment term extensions. (c) We do not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing. (d) Other loans primarily represent consumer and commercial non-card financing products. Prior period balances were not significant. The following tables provide information with respect to loans and receivables modified as TDRs that subsequently defaulted within 12 months of modification. A customer can miss up to three payments before being considered in default, depending on the terms of the modification program. Three Months Ended Number of Accounts (thousands) Aggregated Outstanding Balances Upon Default (millions) (a) Troubled Debt Restructurings That Subsequently Defaulted: Card Member Loans 7 $ 47 Card Member Receivables 1 19 Other Loans (b) 1 5 Total 9 $ 71 Three Months Ended Number of Accounts (thousands) Aggregated Outstanding Balances Upon Default (millions) (a) Troubled Debt Restructurings That Subsequently Defaulted: Card Member Loans 4 $ 28 Card Member Receivables 1 9 Total 5 $ 37 (a) The outstanding balances upon default include principal, fees and accrued interest on loans, and principal and fees on receivables.

Reserves for Credit Losses

Reserves for Credit Losses	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
Reserve for Credit Losses	Reserves for Credit Losses Reserves for credit losses represent our best estimate of the expected credit losses in our outstanding portfolio of Card Member loans and receivables as of the balance sheet date. The CECL methodology requires us to estimate lifetime expected credit losses by incorporating historical loss experience, as well as current and future economic conditions over a reasonable and supportable period (R&S Period), which is approximately three years, beyond the balance sheet date. We make various judgments combined with historical loss experience to determine a reserve rate that is applied to the outstanding loan or receivable balance to produce a reserve for expected credit losses. We use a combination of statistically-based models that incorporate current and future economic conditions throughout the R&S Period. The process of estimating expected credit losses is based on several key models: Probability of Default (PD), Exposure at Default (EAD), and future recoveries for each month of the R&S Period. Beyond the R&S Period, we estimate expected credit losses by immediately reverting to long-term average loss rates. • PD models are used to estimate the likelihood an account will be written-off. • EAD models are used to estimate the balance of an account at the time of write-off. This includes balances less expected repayments based on historical payment and revolve behavior, which vary by customer. Due to the nature of revolving loan portfolios, the EAD models are complex and involve assumptions regarding the relationship between future spend and payment behaviors. • Recovery models are used to estimate amounts that are expected to be received from Card Members after default occurs, typically as a result of collection efforts. Future recoveries are estimated taking into consideration the time of default, time elapsed since default and macroeconomic conditions. We also estimate the likelihood and magnitude of recovery of previously written off accounts considering how long ago the account was written off and future economic conditions. Our models are developed using historical loss experience covering the economic cycle and consider the impact of account characteristics on expected losses. Future economic conditions that are incorporated over the R&S Period include multiple macroeconomic scenarios provided to us by an independent third party. Management reviews these economic scenarios and applies judgment to weight them in order to reflect the uncertainty surrounding these scenarios. These macroeconomic scenarios contain certain variables, including unemployment rates and real gross domestic product, that are significant to our models. We also evaluate whether to include qualitative reserves to cover losses that are expected but, in our assessment, may not be adequately represented in the quantitative methods or the economic assumptions. We consider whether to adjust the quantitative reserves (higher or lower) to address possible limitations within the models or factors not included within the models, such as external conditions, emerging portfolio trends, the nature and size of the portfolio, portfolio concentrations, the volume and severity of past due accounts, or management risk actions. Lifetime losses for most of our loans and receivables are evaluated at an appropriate level of granularity, including assessment on a pooled basis where financial assets share similar risk characteristics, such as past spend and remittance behaviors, credit bureau scores where available, delinquency status, tenure of balance outstanding, amongst others. Credit losses on accrued interest are measured and presented as part of Reserves for credit losses on the Consolidated Balance Sheets and within the Provisions for credit losses in the Consolidated Statements of Income, rather than reversing interest income. Separate models are used for accounts deemed a troubled debt restructuring, which are measured individually using a discounted cash flow model. Loans and receivable balances are written off when we consider amounts to be uncollectible, which is generally determined by the number of days past due and is typically no later than 180 days past due for pay in full or revolving loans and 120 days past due for term loans. Loans and receivables in bankruptcy or owed by deceased individuals are generally written off upon notification. The following table reflects the range of macroeconomic scenario key variables used, in conjunction with other inputs, to calculate reserves for credit losses: U.S. Unemployment Rate U.S. GDP Growth (Contraction) (a) March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 First quarter of 2021 6% 7% - 8% 3% 4% - (5)% Fourth quarter of 2021 6% - 9% 7% - 11% 6% - (2)% 6% - (2)% Fourth quarter of 2022 4% - 11% 6% - 12% 4% - 2% 4% - 3% Fourth quarter of 2023 4% - 10% 4% -10% 5% - 2% 5% - 3% (a) Real GDP quarter over quarter percentage change seasonally adjusted to annualized rates. Changes in Card Member Loans Reserve for Credit Losses Card Member loans reserve for credit losses decreased for the three months ended March 31, 2021, driven by improving macroeconomic indicators including unemployment and GDP, as well as improved credit performance. Card Member loans reserve for credit losses increased for the three months ended March 31, 2020, driven by the deterioration of the global macroeconomic outlook, including unemployment and GDP, as a result of the onset of the COVID-19 pandemic. The following table presents changes in the Card Member loans reserve for credit losses for the three months ended March 31: Three Months Ended March 31, (Millions) 2021 2020 Beginning Balance $ 5,344 $ 4,027 Provisions (a) (573) 1,876 Net write-offs (b) Principal (241) (518) Interest and fees (63) (107) Other (c) — (42) Ending Balance $ 4,467 $ 5,236 (a) Provisions for principal, interest and fee reserve components. Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. (b) Principal write-offs are presented less recoveries of $168 million and $145 million for the three months ended March 31, 2021 and 2020, respectively. Recoveries of interest and fees were not significant. Amounts include net (write-offs) recoveries from TDRs of $(45) million and $(31) million for the three months March 31, 2021 and 2020, respectively. (c) Primarily includes foreign currency translation adjustments of $(1) million and $(42) million for the three months ended March 31, 2021 and 2020, respectively. Changes in Card Member Receivables Reserve for Credit Losses Card Member receivables reserve for credit losses decreased for the three months ended March 31, 2021, driven by improving macroeconomic indicators including unemployment and GDP, as well as improved credit performance. Card Member receivables reserve for credit losses increased for the three months ended March 31, 2020, driven by the deterioration of the global macroeconomic outlook, including unemployment and GDP, as a result of the onset of the COVID-19 pandemic. The following table presents changes in the Card Member receivables reserve for credit losses for the three months ended March 31: Three Months Ended March 31, (Millions) 2021 2020 Beginning Balance (a) $ 267 $ 126 Provisions (a) (10) 597 Net write-offs (b) (53) (258) Other (c) (2) (6) Ending Balance $ 202 $ 459 (a) Provisions for principal and fee reserve components. Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. (b) Net write-offs are presented less recoveries of $97 million and $92 million for the three months ended March 31, 2021 and 2020, respectively. Amounts include net (write-offs) recoveries from TDRs of $(20) million and $(7) million for the three months ended March 31, 2021 and 2020, respectively. (c) Primarily includes foreign currency translation adjustments of $(1) million and $(5) million for the three months ended March 31, 2021 and 2020, respectively.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities Investment securities principally include available-for-sale debt securities carried at fair value on the Consolidated Balance Sheets. Unrealized losses attributable to credit deterioration are recorded in the Consolidated Statements of Income in Other loans Provision for credit losses. Unrealized gains and any portion of a security’s unrealized loss attributable to non-credit losses are recorded in the Consolidated Statements of Comprehensive Income, net of tax. We had accrued interest on our available-for-sale debt securities totaling $53 million and $26 million, as of March 31, 2021 and December 31, 2020, respectively, presented as Other assets on the Consolidated Balance Sheets. Investment securities also include equity securities carried at fair value on the Consolidated Balance Sheets with unrealized gains and losses recorded in the Consolidated Statements of Income as Other, net expense. Realized gains and losses are recognized upon disposition of the securities using the specific identification method. The following is a summary of investment securities as of March 31, 2021 and December 31, 2020: 2021 2020 Description of Securities (Millions) Cost Gross Gross Estimated Cost Gross Gross Estimated Available-for-sale debt securities: State and municipal obligations $ 145 $ 5 $ (1) $ 149 $ 172 $ 7 $ — $ 179 U.S. Government agency obligations 7 — — 7 7 — — 7 U.S. Government treasury obligations 20,356 64 — 20,420 20,655 76 — 20,731 Mortgage-backed securities (a) 25 2 — 27 28 2 — 30 Foreign government bonds and obligations 575 — — 575 581 — — 581 Other (b) 42 — — 42 22 — — 22 Equity securities (c) 52 1 (3) 50 56 27 (2) 81 Total $ 21,202 $ 72 $ (4) $ 21,270 $ 21,521 $ 112 $ (2) $ 21,631 (a) Represents mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. (b) Represents investments in Corporate debt securities and debt securities issued by Community Development Financial Institutions. (c) Equity securities comprise investments in common stock, exchange-traded funds and mutual funds. The following table provides information about our available-for-sale debt securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2021. There were no available-for-sale debt securities with gross unrealized losses as of December 31, 2020. 2021 Less than 12 months 12 months or more Description of Securities (Millions) Estimated Fair Value Gross Estimated Fair Value Gross State and municipal obligations $ 35 $ (1) $ — $ — Total $ 35 $ (1) $ — $ — The following table summarizes the gross unrealized losses by ratio of fair value to amortized cost as of March 31, 2021. There were no available-for-sale debt securities with gross unrealized losses as of December 31, 2020. Less than 12 months 12 months or more Total Ratio of Fair Value to Amortized Cost (Dollars in millions) Number of Estimated Gross Number of Estimated Gross Number of Estimated Gross 2021: 90%–100% 9 $ 34 $ (1) — $ — $ — 9 $ 34 $ (1) Less than 90% 1 1 — — — — 1 1 — Total as of March 31, 2021 10 $ 35 $ (1) — $ — $ — 10 $ 35 $ (1) Contractual maturities for investment securities with stated maturities as of March 31, 2021 were as follows: (Millions) Cost Estimated Due within 1 year $ 19,792 $ 19,815 Due after 1 year but within 5 years 1,208 1,247 Due after 5 years but within 10 years 36 42 Due after 10 years 114 116 Total $ 21,150 $ 21,220 The expected payments on state and municipal obligations, U.S. government agency obligations and mortgage-backed securities may not coincide with their contractual maturities because the issuers have the right to call or prepay certain obligations.

Asset Securitizations

Asset Securitizations	3 Months Ended
	Mar. 31, 2021
Asset Securitizations [Abstract]
Asset Securitizations	Asset Securitizations We periodically securitize Card Member loans and receivables arising from our card businesses through the transfer of those assets to securitization trusts, American Express Credit Account Master Trust (the Lending Trust) and American Express Issuance Trust II (the Charge Trust and together with the Lending Trust, the Trusts). The Trusts then issue debt securities collateralized by the transferred assets to third-party investors. The Trusts are considered VIEs as they have insufficient equity at risk to finance their activities, which are to issue debt securities that are collateralized by the underlying Card Member loans and receivables. We perform the servicing and key decision making for the Trusts, and therefore have the power to direct the activities that most significantly impact the Trusts’ economic performance, which are the collection of the underlying Card Member loans and receivables. In addition, we hold all of the variable interests in both Trusts, with the exception of the debt securities issued to third-party investors. As of March 31, 2021 and December 31, 2020, our ownership of variable interests was $11.6 billion and $13.4 billion, respectively, for the Lending Trust and $4.2 billion and $4.3 billion, respectively, for the Charge Trust. These variable interests held by us provide us with the right to receive benefits and the obligation to absorb losses, which could be significant to both the Lending Trust and the Charge Trust. Based on these considerations, we are the primary beneficiary of the Trusts and therefore consolidate the Trusts. Restricted cash held by the Lending Trust and Charge Trust was $46 million and nil, respectively, as of March 31, 2021 and $47 million and nil, respectively, as of December 31, 2020. These amounts relate to collections of Card Member loans and receivables to be used by the Trusts to fund future expenses and obligations, including interest on debt securities, credit losses and upcoming debt maturities. Under the respective terms of the Lending Trust and the Charge Trust agreements, the occurrence of certain triggering events associated with the performance of the assets of each Trust could result in payment of trust expenses, establishment of reserve funds, or, in a worst-case scenario, early amortization of debt securities. During the three months ended March 31, 2021 and the year ended December 31, 2020, no such triggering events occurred.

Customer Deposits

Customer Deposits	3 Months Ended
	Mar. 31, 2021
Deposits [Abstract]
Customer Deposits	Customer Deposits As of March 31, 2021 and December 31, 2020, customer deposits were categorized as interest-bearing or non-interest-bearing as follows: (Millions) 2021 2020 U.S.: Interest-bearing $ 88,088 $ 85,583 Non-interest-bearing (includes Card Member credit balances of: 2021, $461; 2020, $576) 483 599 Non-U.S.: Interest-bearing 19 19 Non-interest-bearing (includes Card Member credit balances of: 2021, $600; 2020, $671) 603 674 Total customer deposits $ 89,193 $ 86,875 Customer deposits by deposit type as of March 31, 2021 and December 31, 2020 were as follows: (Millions) 2021 2020 U.S. retail deposits: Savings accounts – Direct $ 66,823 $ 63,512 Certificates of deposit: Direct 2,211 2,440 Third-party (brokered) 5,005 5,561 Sweep accounts – Third-party (brokered) 14,049 14,070 Other deposits: U.S. non-interest bearing deposits 22 23 Non-U.S. deposits 22 22 Card Member credit balances ― U.S. and non-U.S. 1,061 1,247 Total customer deposits $ 89,193 $ 86,875 The scheduled maturities of certificates of deposit as of March 31, 2021 were as follows: (Millions) U.S. Non-U.S. Total 2021 $ 2,959 $ 6 $ 2,965 2022 3,101 2 3,103 2023 664 — 664 2024 279 — 279 2025 209 — 209 After 5 years 4 — 4 Total $ 7,216 $ 8 $ 7,224 As of March 31, 2021 and December 31, 2020, certificates of deposit in denominations of $250,000 or more, in the aggregate, were as follows: (Millions) 2021 2020 U.S. $ 849 $ 930 Non-U.S. 1 1 Total $ 850 $ 931

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies In the ordinary course of business, we and our subsidiaries are subject to various pending and potential legal actions, arbitration proceedings, claims, investigations, examinations, regulatory proceedings, information gathering requests, subpoenas, inquiries and matters relating to compliance with laws and regulations (collectively, legal proceedings). Based on our current knowledge, and taking into consideration our litigation-related liabilities, we do not believe we are a party to, nor are any of our properties the subject of, any legal proceeding that would have a material adverse effect on our consolidated financial condition or liquidity. However, in light of the uncertainties involved in such matters, including the fact that some pending legal proceedings are at preliminary stages or seek an indeterminate amount of damages, it is possible that the outcome of legal proceedings could have a material impact on our results of operations. Certain legal proceedings involving us or our subsidiaries are described below. A putative merchant class action in the Eastern District of New York, consolidated in 2011 and collectively captioned In re: American Express Anti-Steering Rules Antitrust Litigation (II) , alleged that provisions in our merchant agreements prohibiting merchants from differentially surcharging our cards or steering a customer to use another network’s card or another type of general-purpose card (“anti-steering” and “non-discrimination” contractual provisions) violate U.S. antitrust laws. On January 15, 2020, our motion to compel arbitration of claims brought by merchants who accept American Express and to dismiss claims of merchants who do not was granted. Plaintiffs have appealed part of this decision. On February 25, 2020, we were named as a defendant in a case filed in the Superior Court of California, Los Angeles County, captioned Laurelwood Cleaners LLC v. American Express Co., et al. , in which the plaintiff seeks a public injunction prohibiting American Express from enforcing its anti-steering and non-discrimination provisions and from requiring merchants “to offer the service of Amex-card acceptance for free.” The case has been stayed pending the outcome of arbitration proceedings. On January 29, 2019, we were named in a putative class action brought in the United States District Court for the Eastern District of New York, captioned Anthony Oliver, et al. v. American Express Company and American Express Travel Related Services Company Inc. , in which the plaintiffs are holders of MasterCard, Visa and/or Discover credit cards (but not American Express cards) and allege they paid higher prices as a result of our anti-steering and non-discrimination provisions in violation of federal antitrust law and the antitrust and consumer laws of various states. Plaintiffs seek unspecified damages and other forms of relief. The court dismissed plaintiffs’ federal antitrust claim, numerous state antitrust and consumer protection claims and their unjust enrichment claim. The remaining claims in plaintiffs’ complaint arise under the antitrust laws of 11 states and the consumer protection laws of six states. In July 2004, we were named as a defendant in another putative class action filed in the Southern District of New York and subsequently transferred to the Eastern District of New York, captioned The Marcus Corporation v. American Express Co., et al. , in which the plaintiffs allege an unlawful antitrust tying arrangement between certain of our charge cards and credit cards in violation of various state and federal laws. The plaintiffs in this action seek injunctive relief and an unspecified amount of damages. On March 8, 2016, plaintiffs B&R Supermarket, Inc. d/b/a Milam’s Market and Grove Liquors LLC, on behalf of themselves and others, filed a suit, captioned B&R Supermarket, Inc. d/b/a Milam’s Market, et al. v. Visa Inc., et al. , for violations of the Sherman Antitrust Act, the Clayton Antitrust Act, California’s Cartwright Act and unjust enrichment in the United States District Court for the Northern District of California, against American Express Company, other credit and charge card networks, other issuing banks and EMVCo, LLC. Plaintiffs allege that the defendants, through EMVCo, conspired to shift liability for fraudulent, faulty and otherwise rejected consumer credit card transactions from themselves to merchants after the implementation of EMV chip payment terminals. Plaintiffs seek damages and injunctive relief. An amended complaint was filed on July 15, 2016. On September 30, 2016, the court denied our motion to dismiss as to claims brought by merchants who do not accept American Express cards, and on May 4, 2017, the California court transferred the case to the United States District Court for the Eastern District of New York. On August 28, 2020, the court granted plaintiffs' motion for class certification. We are being challenged in a number of countries regarding our application of value-added taxes (VAT) to certain of our international transactions, which are in various stages of audit, or are being contested in legal actions. While we believe we have complied with all applicable tax laws, rules and regulations in the relevant jurisdictions, the tax authorities may determine that we owe additional VAT. In certain jurisdictions where we are contesting the assessments, we were required to pay the VAT assessments prior to contesting. Our legal proceedings range from cases brought by a single plaintiff to class actions with millions of putative class members to governmental proceedings. These legal proceedings involve various lines of business and a variety of claims (including, but not limited to, common law tort, contract, application of tax laws, antitrust and consumer protection claims), some of which present novel factual allegations and/or unique legal theories. While some matters pending against us specify the damages sought, many seek an unspecified amount of damages or are at very early stages of the legal process. Even when the amount of damages claimed against us are stated, the claimed amount may be exaggerated and/or unsupported. As a result, some matters have not yet progressed sufficiently through discovery and/or development of important factual information and legal issues to enable us to estimate an amount of loss or a range of possible loss, while other matters have progressed sufficiently such that we are able to estimate an amount of loss or a range of possible loss. We have accrued for certain of our outstanding legal proceedings. An accrual is recorded when it is both (a) probable that a loss has occurred and (b) the amount of loss can be reasonably estimated. There may be instances in which an exposure to loss exceeds the accrual. We evaluate, on a quarterly basis, developments in legal proceedings that could cause an increase or decrease in the amount of the accrual that has been previously recorded, or a revision to the disclosed estimated range of possible losses, as applicable. For those disclosed material legal proceedings where a loss is reasonably possible in future periods, whether in excess of a recorded accrual for legal or tax contingencies, or where there is no such accrual, and for which we are able to estimate a range of possible loss, the current estimated range is zero to $220 million in excess of any accruals related to those matters. This range represents management’s estimate based on currently available information and does not represent our maximum loss exposure; actual results may vary significantly. As such legal proceedings evolve, we may need to increase our range of possible loss or recorded accruals. In addition, it is possible that significantly increased merchant steering or other actions impairing the Card Member experience as a result of an adverse resolution in one or any combination of the disclosed merchant cases could have a material adverse effect on our business and results of operations. In addition, we face exposure associated with Card Member purchases of goods and services, including with respect to the following: • Return Protection — refunds the price of qualifying purchases made with eligible cards, where the merchant will not accept the return, for up to 90 days from the date of purchase; and • Merchant Protection — protects Card Members primarily against non-delivery of goods and services, usually in the event of the bankruptcy or liquidation of a merchant. When this occurs, the Card Member may dispute the transaction for which we will generally credit the Card Member’s account. If we are unable to collect the amount from the merchant, we may bear the loss for the amount credited to the Card Member. The largest component of the exposure relates to Card Member transactions associated with travel-related merchants, primarily through business arrangements where we have remitted payment to such merchants for a Card Member travel purchase that has not yet been used or “flown.” We have an accrual of $78 million related to these exposures as of March 31, 2021. To date, we have not experienced significant losses related to these exposures; however, our historical experience may not be representative in the current environment given the economic and financial disruptions caused by the COVID-19 pandemic and resulting containment measures. A reasonably possible loss related to these exposures in excess of the recorded accrual cannot be quantified as the Card Member purchases that may include or result in claims are not sufficiently estimable, although we believe our risk of loss has increased as a result of the COVID-19 pandemic.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities We use derivative financial instruments to manage exposures to various market risks. These instruments derive their value from an underlying variable or multiple variables, including interest rates and foreign exchange rates, and are carried at fair value on the Consolidated Balance Sheets. These instruments enable end users to increase, reduce or alter exposure to various market risks and, for that reason, are an integral component of our market risk management. We do not transact in derivatives for trading purposes. A majority of our derivative assets and liabilities as of March 31, 2021 and December 31, 2020 are subject to master netting agreements with our derivative counterparties. Accordingly, where appropriate, we have elected to present derivative assets and liabilities with the same counterparty on a net basis in the Consolidated Balance Sheets. In relation to our credit risk, certain of our bilateral derivative agreements include provisions that allow our counterparties to terminate the agreement in the event of a downgrade of our debt credit rating below investment grade and settle the outstanding net liability position. As of March 31, 2021, these derivatives were not in a material net liability position. Based on our assessment of the credit risk of our derivative counterparties and our own credit risk as of March 31, 2021 and December 31, 2020, no credit risk adjustment to the derivative portfolio was required. The following table summarizes the total fair value, excluding interest accruals, of derivative assets and liabilities as of March 31, 2021 and December 31, 2020: Other Assets Fair Value Other Liabilities Fair Value (Millions) 2021 2020 2021 2020 Derivatives designated as hedging instruments: Fair value hedges - Interest rate contracts (a) $ 390 $ 500 $ — $ — Net investment hedges - Foreign exchange contracts 93 24 110 474 Total derivatives designated as hedging instruments 483 524 110 474 Derivatives not designated as hedging instruments: Foreign exchange contracts 146 105 102 228 Total derivatives, gross 629 629 212 702 Derivative asset and derivative liability netting (b) (111) (98) (111) (98) Cash collateral netting (c) (392) (500) (1) (16) Total derivatives, net $ 126 $ 31 $ 100 $ 588 (a) For our centrally cleared derivatives, variation margin payments are legally characterized as settlement payments as opposed to collateral. (b) Represents the amount of netting of derivative assets and derivative liabilities executed with the same counterparty under an enforceable master netting arrangement. (c) Represents the offsetting of the fair value of bilateral interest rate contracts and certain foreign exchange contracts with the right to cash collateral held from the counterparty or cash collateral posted with the counterparty. We posted $28 million and $34 million as of March 31, 2021 and December 31, 2020, respectively, as initial margin on our centrally cleared interest rate swaps; such amounts are recorded within Other assets on the Consolidated Balance Sheets and are not netted against the derivative balances. Fair Value Hedges We are exposed to interest rate risk associated with our fixed-rate debt obligations. At the time of issuance, certain fixed-rate long-term debt obligations are designated in fair value hedging relationships, using interest rate swaps, to economically convert the fixed interest rate to a floating interest rate. We had $15.8 billion of fixed-rate debt obligations designated in fair value hedging relationships as of both March 31, 2021 and December 31, 2020. The following table presents the gains and losses recognized in Interest expense on the Consolidated Statements of Income associated with the fair value hedges of our fixed-rate long-term debt for the three months ended March 31: Gains (losses) Three Months Ended (Millions) 2021 2020 Fixed-rate long-term debt $ 143 $ (597) Derivatives designated as hedging instruments (145) 611 Total $ (2) $ 14 The carrying values of the hedged liabilities, recorded within Long-term debt on the Consolidated Balance Sheets, were $16.2 billion and $16.4 billion as of March 31, 2021 and December 31, 2020, respectively, including the cumulative amount of fair value hedging adjustments of $479 million and $622 million for the respective periods. We recognized net decreases of $73 million and $21 million in Interest expense on Long-term debt for the three months ended March 31, 2021 and 2020, respectively, primarily related to the net settlements including interest accruals on our interest rate derivatives designated as fair value hedges. Net Investment Hedges We primarily designate foreign currency derivatives as net investment hedges to reduce our exposure to changes in currency exchange rates on our investments in non-U.S. subsidiaries. We had notional amounts of approximately $10.5 billion of foreign currency derivatives designated as net investment hedges as of both March 31, 2021 and December 31, 2020. The gain or loss on net investment hedges, net of taxes, recorded in AOCI as part of the cumulative translation adjustment, were gains of $6 million and $732 million for the three months ended March 31, 2021 and 2020, respectively. Net investment hedge reclassifications out of AOCI into the Consolidated Statements of Income, net of taxes, were not significant for both the three months ended March 31, 2021 and 2020. Derivatives Not Designated as Hedges The changes in the fair value of derivatives that are not designated as hedges are intended to offset the related foreign exchange gains or losses of the underlying foreign currency exposures. The changes in the fair value of the derivatives and the related underlying foreign currency exposures resulted in a net loss of $5 million and a net gain of $20 million for the three months ended March 31, 2021 and 2020, respectively, that are recognized in Other, net expenses in the Consolidated Statements of Income.

Fair Values

Fair Values	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Values	Fair Values Financial Assets and Financial Liabilities Carried at Fair Value The following table summarizes our financial assets and financial liabilities measured at fair value on a recurring basis, categorized by GAAP’s fair value hierarchy, as of March 31, 2021 and December 31, 2020 2021 2020 (Millions) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Investment securities: (a) Equity securities $ 50 $ 49 $ 1 $ — $ 81 $ 80 $ 1 $ — Debt securities (b) 21,220 — 21,200 20 21,550 — 21,550 — Derivatives, gross (a) 629 — 629 — 629 — 629 — Total Assets 21,899 49 21,830 20 22,260 80 22,180 — Liabilities: Derivatives, gross (a) 212 — 212 — 702 — 702 — Total Liabilities $ 212 $ — $ 212 $ — $ 702 $ — $ 702 $ — (a) Refer to Note 4 for the fair values of investment securities and to Note 8 for the fair values of derivative assets and liabilities, on a further disaggregated basis. (b) Level 3 fair value amount represents investments in debt securities issued by Community Development Financial Institutions. Financial Assets and Financial Liabilities Carried at Other Than Fair Value The following table summarizes the estimated fair values of our financial assets and financial liabilities that are measured at amortized cost, and not required to be carried at fair value on a recurring basis, as of March 31, 2021 and December 31, 2020. The fair values of these financial instruments are estimates based upon the market conditions and perceived risks as of March 31, 2021 and December 31, 2020, and require management’s judgment. These figures may not be indicative of future fair values, nor can the fair value of American Express be estimated by aggregating the amounts presented. Carrying Corresponding Fair Value Amount 2021 (Billions) Total Level 1 Level 2 Level 3 Financial Assets: Financial assets for which carrying values equal or approximate fair value Cash and cash equivalents (a) $ 40 $ 40 $ 39 $ 1 $ — Other financial assets (b) 44 44 — 44 — Financial assets carried at other than fair value Card Member and Other loans, less reserves (c) 68 72 — — 72 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 103 103 — 103 — Financial liabilities carried at other than fair value Certificates of deposit (d) 7 7 — 7 — Long-term debt (c) $ 42 $ 44 $ — $ 44 $ — Carrying Corresponding Fair Value Amount 2020 (Billions) Total Level 1 Level 2 Level 3 Financial Assets: Financial assets for which carrying values equal or approximate fair value Cash and cash equivalents (a) $ 33 $ 33 $ 31 $ 2 $ — Other financial assets (b) 46 46 — 46 — Financial assets carried at other than fair value Card Member and Other loans, less reserves (c) 71 75 — — 75 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 101 101 — 101 — Financial liabilities carried at other than fair value Certificates of deposit (d) 8 8 — 8 — Long-term debt (c) $ 43 $ 45 $ — $ 45 $ — (a) Level 2 fair value amounts reflect time deposits and short-term investments. (b) Balances include Card Member receivables (including fair values of Card Member receivables of $4.2 billion held by a consolidated VIE as of both March 31, 2021 and December 31, 2020), other receivables and other miscellaneous assets. (c) Balances include amounts held by a consolidated VIE for which the fair values of Card Member loans were $24.2 billion and $25.8 billion as of March 31, 2021 and December 31, 2020, respectively, and the fair values of Long-term debt were $13.0 billion as of both March 31, 2021 and December 31, 2020. (d) Presented as a component of Customer deposits on the Consolidated Balance Sheets. Nonrecurring Fair Value Measurements We have certain assets that are subject to measurement at fair value on a nonrecurring basis. For these assets, measurement at fair value in periods subsequent to their initial recognition is applicable if they are determined to be impaired or where there are observable price changes for equity investments without readily determinable fair values. During the three months ended March 31, 2021 and the year ended December 31, 2020, we did not have any material assets that were measured at fair value due to impairment. We estimate the Level 3 fair value of equity investments without readily determinable fair values based on price changes as of the date of new similar equity financing transactions completed by the companies in our portfolio. The carrying value of equity investments without readily determinable fair values totaled $911 million and $530 million as of March 31, 2021 and December 31, 2020, respectively. These amounts are included within Other assets on the Consolidated Balance Sheets. For the three months ended March 31, 2021 and March 31, 2020 we recorded net unrealized gains of $377 million and $15 million, respectively. Unrealized losses including any impairments were insignificant for both periods. Beginning in January 2018, cumulative net unrealized gains for equity investments without readily determinable fair values totaled $728 million and $347 million as of March 31, 2021 and December 31, 2020, respectively.

Guarantees

Guarantees	3 Months Ended
	Mar. 31, 2021
Guarantees [Abstract]
Guarantees	Guarantees The maximum potential undiscounted future payments and related liability resulting from guarantees and indemnifications provided by us in the ordinary course of business were $1 billion and $23 million, respectively, as of March 31, 2021, and $1 billion and $24 million, respectively, as of December 31, 2020, all of which were primarily related to our real estate and business dispositions. To date, we have not experienced any significant losses related to guarantees or indemnifications. Our recognition of these instruments is at fair value. In addition, we establish reserves when a loss is probable and the amount can be reasonably estimated.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2021
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Changes In Accumulated Other Comprehensive Income (Loss)	Changes In Accumulated Other Comprehensive Income (Loss) AOCI is comprised of items that have not been recognized in earnings but may be recognized in earnings in the future when certain events occur. Changes in each component for the three months ended March 31, 2021 and 2020 were as follows: Three Months Ended March 31, 2021 (Millions), net of tax Net Unrealized Foreign Currency Net Unrealized Accumulated Other Balances as of December 31, 2020 $ 65 $ (2,229) $ (731) $ (2,895) Net unrealized losses (12) — — (12) Net translation on investments in foreign operations — (23) — (23) Net hedges of investments in foreign operations — 6 — 6 Pension and other postretirement benefits — — 26 26 Net change in accumulated other comprehensive income (loss) (12) (17) 26 (3) Balances as of March 31, 2021 $ 53 $ (2,246) $ (705) $ (2,898) Three Months Ended March 31, 2020 (Millions), net of tax Net Unrealized Foreign Currency Net Unrealized Accumulated Balances as of December 31, 2019 $ 33 $ (2,189) $ (581) $ (2,737) Net unrealized gains 57 — — 57 Net translation on investments in foreign operations — (1,054) — (1,054) Net hedges of investments in foreign operations — 732 — 732 Pension and other postretirement benefits — — 6 6 Net change in accumulated other comprehensive income (loss) 57 (322) 6 (259) Balances as of March 31, 2020 $ 90 $ (2,511) $ (575) $ (2,996) The following table shows the tax impact for the three months ended March 31 for the changes in each component of AOCI presented above: Tax expense (benefit) Three Months Ended (Millions) 2021 2020 Net unrealized (losses) gains on debt securities $ (3) $ 18 Net translation on investments in foreign operations 8 30 Net hedges of investments in foreign operations — 230 Pension and other postretirement benefits 11 12 Total tax impact $ 16 $ 290 Reclassifications out of AOCI into the Consolidated Statements of Income for the three months ended March 31, 2021 and 2020 were not significant.

Other Fees and Commissions and

Other Fees and Commissions and Other Expenses	3 Months Ended
	Mar. 31, 2021
Other Fees and Commissions and Other Expenses [Abstract]
Other Fees and Commissions and Other Expenses	Other Fees and Commissions and Other Expenses The following is a detail of Other fees and commissions for the three months ended March 31: Three Months Ended (Millions) 2021 2020 Fees charged to Card Members: Delinquency fees $ 148 $ 260 Foreign currency conversion fee revenue 96 193 Other customer fees: Loyalty coalition-related fees 124 108 Travel commissions and fees 33 60 Service fees and other (a) 119 99 Total Other fees and commissions $ 520 $ 720 (a) Other includes Membership Rewards program fees that are not related to contracts with customers. Revenue expected to be recognized in future periods related to contracts that have an original expected duration of one year or less and contracts with variable consideration (e.g. discount revenue) are not required to be disclosed. Non-interest revenue expected to be recognized in future periods through remaining contracts with customers is not material. The following is a detail of Other expenses for the three months ended March 31: Three Months Ended (Millions) 2021 2020 Data processing and equipment (a) $ 582 $ 549 Professional services 403 439 Net unrealized gains on Amex Ventures equity investments (b) (377) (15) Other (c) 262 316 Total Other expenses $ 870 $ 1,289 (a) Effective for the first quarter of 2021, we changed the expense category name from Occupancy and equipment to Data processing and equipment to better reflect the nature and components of the expense. (b) Represents net unrealized gains on equity investments without a readily determinable fair value. (c) Other expense primarily includes general operating expenses, non-income taxes, communication expenses, Card Member and merchant-related fraud losses, foreign currency-related gains and losses and litigation expenses.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate was 25.3 percent and 18.8 percent for the three months ended March 31, 2021 and 2020, respectively. The increase primarily reflected the prior period impact of discrete tax benefits in relation to lower pretax income. The current period effective tax rate also reflects the implementation of PAM in the current period. Refer to Note 1 for further information. We are under continuous examination by the Internal Revenue Service (IRS) and tax authorities in other countries and states in which we have significant business operations. The tax years under examination and open for examination vary by jurisdiction. We are currently under examination by the IRS for the 2017 and 2018 tax years. We believe it is reasonably possible that our unrecognized tax benefits could decrease within the next 12 months by as much as $133 million, principally as a result of potential resolutions of prior years’ tax items with various taxing authorities. The prior years’ tax items include unrecognized tax benefits relating to the deductibility of certain expenses or losses and the attribution of taxable income to a particular jurisdiction or jurisdictions. Of the $133 million of unrecognized tax benefits, approximately $105 million relates to amounts that, if recognized, would impact the effective tax rate in a future period.

Earnings Per Common Share (EPS)

Earnings Per Common Share (EPS)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Common Share (EPS)	Earnings Per Common Share (EPS) The computations of basic and diluted EPS for the three months ended March 31 were as follows: Three Months Ended (Millions, except per share amounts) 2021 2020 Numerator: Basic and diluted: Net income $ 2,235 $ 367 Preferred dividends (14) (32) Net income available to common shareholders $ 2,221 $ 335 Earnings allocated to participating share awards (a) (15) (2) Net income attributable to common shareholders $ 2,206 $ 333 Denominator: (a) Basic: Weighted-average common stock 804 807 Add: Weighted-average stock options (b) 1 1 Diluted 805 808 Basic EPS $ 2.74 $ 0.41 Diluted EPS $ 2.74 $ 0.41 (a) Our unvested restricted stock awards, which include the right to receive non-forfeitable dividends or dividend equivalents, are considered participating securities. Calculations of EPS under the two-class method exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities. The related participating securities are similarly excluded from the denominator. (b) The dilutive effect of unexercised stock options excludes from the computation of EPS 0.3 million of options for both the three months ended March 31, 2021 and 2020, because inclusion of the options would have been anti-dilutive.

Reportable Operating Segments

Reportable Operating Segments	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Reportable Operating Segments	Reportable Operating Segments The following table presents certain selected financial information for our reportable operating segments and Corporate & Other as of or for the three months ended March 31: Three Months Ended March 31, 2021 (Millions, except where indicated) GCSG GCS GMNS Corporate & Other (a) Consolidated Total non-interest revenues $ 3,690 $ 2,432 $ 1,190 $ (78) $ 7,234 Revenue from contracts with customers (b) 2,490 2,053 1,118 (7) 5,654 Interest income 1,807 336 4 45 2,192 Interest expense 187 116 (17) 76 362 Total revenues net of interest expense 5,310 2,652 1,211 (109) 9,064 Pretax segment income (loss) $ 2,124 $ 665 $ 414 $ (210) $ 2,993 Total assets (billions) $ 81 $ 42 $ 14 $ 56 $ 193 Three Months Ended March 31, 2020 (Millions, except where indicated) GCSG GCS GMNS Corporate & Other (a) Consolidated Total non-interest revenues $ 3,894 $ 2,788 $ 1,346 $ (48) $ 7,980 Revenue from contracts with customers (b) 2,693 2,372 1,245 (14) 6,296 Interest income 2,411 499 6 130 3,046 Interest expense 328 200 (36) 224 716 Total revenues net of interest expense 5,977 3,087 1,388 (142) 10,310 Pretax segment income (loss) $ 231 $ 19 $ 551 $ (349) $ 452 Total assets (billions) $ 87 $ 47 $ 10 $ 42 $ 186 (a) Corporate & Other includes adjustments and eliminations for intersegment activity. (b) Includes discount revenue, certain other fees and commissions and other revenues from customers.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The preparation of Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosures of contingent assets and liabilities. These accounting estimates reflect the best judgment of management, but actual results could differ.
Recently Adopted Accounting Standards	Effective January 1, 2021, we elected to change our accounting for investments in qualified affordable housing projects from the equity method of accounting to the proportional amortization method (PAM) in accordance with the accounting guidance. PAM results in the amortization of the initial cost of the investment in proportion to the related tax credits, and recognition of the net investment performance in the statement of income as a component of Income tax provision, while the equity method reflected losses related to the investments as a component of Other, net expenses. As a result, we believe PAM is preferable as it better reflects the economics of our tax credit investments. Since the impact of this change is immaterial to our prior and current period financial statements, we implemented PAM on a prospective basis which resulted in a one-time charge to Income tax provision of $55 million, reflecting the cumulative impact of the difference in the timing of expense recognition between the equity method and PAM.
Impaired Loans and Receivables	Impaired loans and receivables are individual larger balance or homogeneous pools of smaller balance loans and receivables for which it is probable that we will be unable to collect all amounts due according to the original contractual terms of the customer agreement. We consider impaired loans and receivables to include (i) loans over 90 days past due still accruing interest, (ii) non-accrual loans and (iii) loans and receivables modified as troubled debt restructurings (TDRs). In instances where the customer is experiencing financial difficulty, we may modify, through various financial relief programs, loans and receivables with the intention to minimize losses and improve collectability, while providing customers with temporary or permanent financial relief. We have classified loans and receivables in these modification programs as TDRs and continue to classify customer accounts that have exited a modification program as a TDR, with such accounts identified as “Out of Program TDRs.”
Reserves for Credit Losses	Reserves for credit losses represent our best estimate of the expected credit losses in our outstanding portfolio of Card Member loans and receivables as of the balance sheet date. The CECL methodology requires us to estimate lifetime expected credit losses by incorporating historical loss experience, as well as current and future economic conditions over a reasonable and supportable period (R&S Period), which is approximately three years, beyond the balance sheet date. We make various judgments combined with historical loss experience to determine a reserve rate that is applied to the outstanding loan or receivable balance to produce a reserve for expected credit losses. We use a combination of statistically-based models that incorporate current and future economic conditions throughout the R&S Period. The process of estimating expected credit losses is based on several key models: Probability of Default (PD), Exposure at Default (EAD), and future recoveries for each month of the R&S Period. Beyond the R&S Period, we estimate expected credit losses by immediately reverting to long-term average loss rates. • PD models are used to estimate the likelihood an account will be written-off. • EAD models are used to estimate the balance of an account at the time of write-off. This includes balances less expected repayments based on historical payment and revolve behavior, which vary by customer. Due to the nature of revolving loan portfolios, the EAD models are complex and involve assumptions regarding the relationship between future spend and payment behaviors. • Recovery models are used to estimate amounts that are expected to be received from Card Members after default occurs, typically as a result of collection efforts. Future recoveries are estimated taking into consideration the time of default, time elapsed since default and macroeconomic conditions. We also estimate the likelihood and magnitude of recovery of previously written off accounts considering how long ago the account was written off and future economic conditions. Our models are developed using historical loss experience covering the economic cycle and consider the impact of account characteristics on expected losses. Future economic conditions that are incorporated over the R&S Period include multiple macroeconomic scenarios provided to us by an independent third party. Management reviews these economic scenarios and applies judgment to weight them in order to reflect the uncertainty surrounding these scenarios. These macroeconomic scenarios contain certain variables, including unemployment rates and real gross domestic product, that are significant to our models. We also evaluate whether to include qualitative reserves to cover losses that are expected but, in our assessment, may not be adequately represented in the quantitative methods or the economic assumptions. We consider whether to adjust the quantitative reserves (higher or lower) to address possible limitations within the models or factors not included within the models, such as external conditions, emerging portfolio trends, the nature and size of the portfolio, portfolio concentrations, the volume and severity of past due accounts, or management risk actions. Lifetime losses for most of our loans and receivables are evaluated at an appropriate level of granularity, including assessment on a pooled basis where financial assets share similar risk characteristics, such as past spend and remittance behaviors, credit bureau scores where available, delinquency status, tenure of balance outstanding, amongst others. Credit losses on accrued interest are measured and presented as part of Reserves for credit losses on the Consolidated Balance Sheets and within the Provisions for credit losses in the Consolidated Statements of Income, rather than reversing interest income. Separate models are used for accounts deemed a troubled debt restructuring, which are measured individually using a discounted cash flow model.
Investments	Investment securities principally include available-for-sale debt securities carried at fair value on the Consolidated Balance Sheets. Unrealized losses attributable to credit deterioration are recorded in the Consolidated Statements of Income in Other loans Provision for credit losses. Unrealized gains and any portion of a security’s unrealized loss attributable to non-credit losses are recorded in the Consolidated Statements of Comprehensive Income, net of tax. Investment securities also include equity securities carried at fair value on the Consolidated Balance Sheets with unrealized gains and losses recorded in the Consolidated Statements of Income as Other, net expense. Realized gains and losses are recognized upon disposition of the securities using the specific identification method.
Asset Securitizations	We periodically securitize Card Member loans and receivables arising from our card businesses through the transfer of those assets to securitization trusts, American Express Credit Account Master Trust (the Lending Trust) and American Express Issuance Trust II (the Charge Trust and together with the Lending Trust, the Trusts). The Trusts then issue debt securities collateralized by the transferred assets to third-party investors.The Trusts are considered VIEs as they have insufficient equity at risk to finance their activities, which are to issue debt securities that are collateralized by the underlying Card Member loans and receivables. We perform the servicing and key decision making for the Trusts, and therefore have the power to direct the activities that most significantly impact the Trusts’ economic performance, which are the collection of the underlying Card Member loans and receivables. In addition, we hold all of the variable interests in both Trusts, with the exception of the debt securities issued to third-party investors.These variable interests held by us provide us with the right to receive benefits and the obligation to absorb losses, which could be significant to both the Lending Trust and the Charge Trust. Based on these considerations, we are the primary beneficiary of the Trusts and therefore consolidate the Trusts.
Contingencies	We have accrued for certain of our outstanding legal proceedings. An accrual is recorded when it is both (a) probable that a loss has occurred and (b) the amount of loss can be reasonably estimated. There may be instances in which an exposure to loss exceeds the accrual. We evaluate, on a quarterly basis, developments in legal proceedings that could cause an increase or decrease in the amount of the accrual that has been previously recorded, or a revision to the disclosed estimated range of possible losses, as applicable. For those disclosed material legal proceedings where a loss is reasonably possible in future periods, whether in excess of a recorded accrual for legal or tax contingencies, or where there is no such accrual, and for which we are able to estimate a range of possible loss, the current estimated range is zero to $220 million in excess of any accruals related to those matters. This range represents management’s estimate based on currently available information and does not represent our maximum loss exposure; actual results may vary significantly. As such legal proceedings evolve, we may need to increase our range of possible loss or recorded accruals. In addition, it is possible that significantly increased merchant steering or other actions impairing the Card Member experience as a result of an adverse resolution in one or any combination of the disclosed merchant cases could have a material adverse effect on our business and results of operations. In addition, we face exposure associated with Card Member purchases of goods and services, including with respect to the following: • Return Protection — refunds the price of qualifying purchases made with eligible cards, where the merchant will not accept the return, for up to 90 days from the date of purchase; and • Merchant Protection — protects Card Members primarily against non-delivery of goods and services, usually in the event of the bankruptcy or liquidation of a merchant. When this occurs, the Card Member may dispute the transaction for which we will generally credit the Card Member’s account. If we are unable to collect the amount from the merchant, we may bear the loss for the amount credited to the Card Member. The largest component of the exposure relates to Card Member transactions associated with travel-related merchants, primarily through business arrangements where we have remitted payment to such merchants for a Card Member travel purchase that has not yet been used or “flown.”
Derivatives	A majority of our derivative assets and liabilities as of March 31, 2021 and December 31, 2020 are subject to master netting agreements with our derivative counterparties. Accordingly, where appropriate, we have elected to present derivative assets and liabilities with the same counterparty on a net basis in the Consolidated Balance Sheets.The changes in the fair value of derivatives that are not designated as hedges are intended to offset the related foreign exchange gains or losses of the underlying foreign currency exposures.
Fair Values	We have certain assets that are subject to measurement at fair value on a nonrecurring basis. For these assets, measurement at fair value in periods subsequent to their initial recognition is applicable if they are determined to be impaired or where there are observable price changes for equity investments without readily determinable fair values. During the three months ended March 31, 2021 and the year ended December 31, 2020, we did not have any material assets that were measured at fair value due to impairment. We estimate the Level 3 fair value of equity investments without readily determinable fair values based on price changes as of the date of new similar equity financing transactions completed by the companies in our portfolio. The carrying value of equity investments without readily determinable fair values totaled $911 million and $530 million as of March 31, 2021 and December 31, 2020, respectively. These amounts are included within Other assets on the Consolidated Balance Sheets. For the three months ended March 31, 2021 and March 31, 2020 we recorded net unrealized gains of $377 million and $15 million, respectively. Unrealized losses including any impairments were insignificant for both periods. Beginning in January 2018, cumulative net unrealized gains for equity investments without readily determinable fair values totaled $728 million and $347 million as of March 31, 2021 and December 31, 2020, respectively.
Guarantees	Our recognition of these instruments is at fair value. In addition, we establish reserves when a loss is probable and the amount can be reasonably estimated.

Loans and Card Member Receiva_2

Loans and Card Member Receivables (Tables)	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
Card Member receivables segment and other loans detail	Card Member loans by segment and Other loans as of March 31, 2021 and December 31, 2020 consisted of: (Millions) 2021 2020 Global Consumer Services Group (a) $ 56,265 $ 60,084 Global Commercial Services 13,835 13,289 Card Member loans 70,100 73,373 Less: Reserves for credit losses 4,467 5,344 Card Member loans, net $ 65,633 $ 68,029 Other loans, net (b) $ 2,133 $ 2,614 (a) Includes approximately $24.1 billion and $25.9 billion of gross Card Member loans available to settle obligations of a consolidated variable interest entity (VIE) as of March 31, 2021 and December 31, 2020, respectively. (b) Other loans represent consumer and commercial non-card financing products, and Small Business Administration Paycheck Protection Program (PPP) loans. There were $0.5 billion and $0.6 billion of gross PPP loans outstanding as of March 31, 2021 and December 31, 2020, respectively. Other loans are presented net of reserves for credit losses of $143 million and $238 million as of March 31, 2021 and December 31, 2020, respectively. Card Member receivables by segment as of March 31, 2021 and December 31, 2020 consisted of: (Millions) 2021 2020 Global Consumer Services Group $ 17,228 $ 18,685 Global Commercial Services (a) 24,774 25,016 Card Member receivables 42,002 43,701 Less: Reserves for credit losses 202 267 Card Member receivables, net $ 41,800 $ 43,434
Aging of Card Member loans and receivables	The following table presents the aging of Card Member loans and receivables as of March 31, 2021 and December 31, 2020: 2021 (Millions) Current 30-59 60-89 90+ Total Card Member Loans: Global Consumer Services Group $ 55,728 $ 139 $ 106 $ 292 $ 56,265 Global Commercial Services Global Small Business Services 13,682 24 18 38 13,762 Global Corporate Payments (a) (b) (b) (b) — 73 Card Member Receivables: Global Consumer Services Group 17,129 29 20 50 17,228 Global Commercial Services Global Small Business Services $ 14,191 $ 33 $ 21 $ 32 $ 14,277 Global Corporate Payments (a) (b) (b) (b) $ 47 $ 10,497 2020 (Millions) Current 30-59 60-89 90+ Total Card Member Loans: Global Consumer Services Group $ 59,442 $ 177 $ 148 $ 317 $ 60,084 Global Commercial Services Global Small Business Services 13,132 27 20 47 13,226 Global Corporate Payments (a) (b) (b) (b) — 63 Card Member Receivables: Global Consumer Services Group 18,570 33 26 56 18,685 Global Commercial Services Global Small Business Services $ 14,023 $ 37 $ 21 $ 38 $ 14,119 Global Corporate Payments (a) (b) (b) (b) $ 60 $ 10,897 (a) Global Corporate Payments (GCP) reflects global, large and middle market corporate accounts. Delinquency data is tracked based on days past billing status rather than days past due. A Card Member account is considered 90 days past billing if payment has not been received within 90 days of the Card Member’s billing statement date. In addition, if we initiate collection procedures on an account prior to the account becoming 90 days past billing, the associated Card Member loan or receivable balance is classified as 90 days past billing. These amounts are shown above as 90+ Days Past Due for presentation purposes. See also (b). (b) Delinquency data for periods other than 90+ days past billing is not available due to system constraints. Therefore, such data has not been utilized for risk management purposes. The balances that are current to 89 days past due can be derived as the difference between the Total and the 90+ Days Past Due balances.
Credit quality indicators for loans and receivables	The following tables present the key credit quality indicators as of or for the three months ended March 31: 2021 2020 Net Write-Off Rate Net Write-Off Rate Principal Only (a) Principal, Interest & Fees (a) 30+ Days Past Due as a % of Total Principal Only (a) Principal, Interest & Fees (a) 30+ Days Past Due as a % of Total Card Member Loans: Global Consumer Services Group 1.4 % 1.8 % 1.0 % 2.6 % 3.2 % 1.7 % Global Small Business Services 1.0 % 1.2 % 0.6 % 1.9 % 2.2 % 1.4 % Card Member Receivables: Global Consumer Services Group 0.5 % 0.6 % 0.6 % 2.0 % 2.2 % 1.7 % Global Small Business Services 0.5 % 0.5 % 0.6 % 2.2 % 2.5 % 2.0 % Global Corporate Payments (b) 0.4 % (c) (b) 1.0 % (c) (a) We present 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 we consider uncollectible interest and/or fees in estimating our reserves for credit losses, a net write-off rate including principal, interest and/or fees is also presented. (b) Net write-off rate based on principal losses only is not available due to system constraints. (c) For GCP Card Member receivables, delinquency data is tracked based on days past billing status rather than days past due. Delinquency data for periods other than 90+ days past billing is not available due to system constraints. 90+ Days Past Billing as a % of total was 0.4% and 1.1% as of March 31, 2021 and 2020, respectively.
Impaired Card Member loans and receivables	The following tables provide additional information with respect to our impaired loans and receivables as of March 31, 2021 and December 31, 2020: As of March 31, 2021 Accounts Classified as a TDR (c) 2021 (Millions) Over 90 days Past Due & Accruing Interest (a) Non- Accruals (b) In Program (d) Out of Program (e) Total Reserve for Credit Losses - TDRs Card Member Loans: Global Consumer Services Group $ 183 $ 126 $ 1,550 $ 293 $ 2,152 $ 733 Global Commercial Services 17 22 452 84 575 252 Card Member Receivables: Global Consumer Services Group — — 219 41 260 64 Global Commercial Services — — 439 97 536 137 Other Loans (f) 1 1 196 7 205 65 Total $ 201 $ 149 $ 2,856 $ 522 $ 3,728 $ 1,251 As of December 31, 2020 Accounts Classified as a TDR (c) 2020 (Millions) Over 90 days Past Due & Accruing Interest (a) Non- Accruals (b) In Program (d) Out of Program (e) Total Reserve for Credit Losses - TDRs Card Member Loans: Global Consumer Services Group $ 203 $ 146 $ 1,586 $ 248 $ 2,183 $ 782 Global Commercial Services 21 29 478 67 595 285 Card Member Receivables: Global Consumer Services Group — — 240 34 274 60 Global Commercial Services — — 534 75 609 139 Other Loans (f) 2 1 248 6 257 80 Total $ 226 $ 176 $ 3,086 $ 430 $ 3,918 $ 1,346 (a) Our policy is generally to accrue interest through the date of write-off (typically 180 days past due). We establish reserves for interest that we believe will not be collected. Amounts presented exclude loans classified as a TDR. (b) Non-accrual loans not in modification programs primarily include certain loans placed with outside collection agencies for which we have ceased accruing interest. Amounts presented exclude loans classified as TDRs. (c) Accounts classified as a TDR include $35 million and $32 million that are over 90 days past due and accruing interest and $12 million and $11 million that are non-accruals as of March 31, 2021 and December 31, 2020, respectively. (d) In Program TDRs include accounts that are currently enrolled in a modification program. (e) Out of Program TDRs include $395 million and $316 million of accounts that have successfully completed a modification program and $127 million and $114 million of accounts that were not in compliance with the terms of the modification programs as of March 31, 2021 and December 31, 2020, respectively. (f) Other loans primarily represent consumer and commercial non-card financing products.
Troubled debt restructurings	The following tables provide additional information with respect to loans and receivables that entered a financial relief program and were modified as TDRs during the three months ended March 31, 2021 and 2020: Three Months Ended Number of Account Balances (millions) (a) Average Interest Average Payment Troubled Debt Restructurings: Card Member Loans 38 $ 287 13 (b) Card Member Receivables 7 117 (c) 18 Other Loans (d) 1 8 3 15 Total 46 $ 412 Three Months Ended Number of Account Balances (millions) (a) Average Interest Average Payment Troubled Debt Restructurings: Card Member Loans 24 $ 195 14 (b) Card Member Receivables 3 74 (c) 25 Total 27 $ 269 (a) Represents the outstanding balance immediately prior to modification. The outstanding balance includes principal, fees and accrued interest on loans and principal and fees on receivables. Modifications did not reduce the principal balance. (b) For Card Member loans, there have been no payment term extensions. (c) We do not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing. (d) Other loans primarily represent consumer and commercial non-card financing products. Prior period balances were not significant.
Troubled debt restructurings that subsequently defaulted	The following tables provide information with respect to loans and receivables modified as TDRs that subsequently defaulted within 12 months of modification. A customer can miss up to three payments before being considered in default, depending on the terms of the modification program. Three Months Ended Number of Accounts (thousands) Aggregated Outstanding Balances Upon Default (millions) (a) Troubled Debt Restructurings That Subsequently Defaulted: Card Member Loans 7 $ 47 Card Member Receivables 1 19 Other Loans (b) 1 5 Total 9 $ 71 Three Months Ended Number of Accounts (thousands) Aggregated Outstanding Balances Upon Default (millions) (a) Troubled Debt Restructurings That Subsequently Defaulted: Card Member Loans 4 $ 28 Card Member Receivables 1 9 Total 5 $ 37 (a) The outstanding balances upon default include principal, fees and accrued interest on loans, and principal and fees on receivables.

Reserves for Credit Losses (Tab

Reserves for Credit Losses (Tables)	3 Months Ended
	Mar. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Schedule of Key Variables in Macroeconomic Scenarios Utilized for Computation of Reserves for Credit Losses	The following table reflects the range of macroeconomic scenario key variables used, in conjunction with other inputs, to calculate reserves for credit losses: U.S. Unemployment Rate U.S. GDP Growth (Contraction) (a) March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 First quarter of 2021 6% 7% - 8% 3% 4% - (5)% Fourth quarter of 2021 6% - 9% 7% - 11% 6% - (2)% 6% - (2)% Fourth quarter of 2022 4% - 11% 6% - 12% 4% - 2% 4% - 3% Fourth quarter of 2023 4% - 10% 4% -10% 5% - 2% 5% - 3% (a) Real GDP quarter over quarter percentage change seasonally adjusted to annualized rates.
Card Member Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Schedule of Changes in Card Member Loans and Receivables	The following table presents changes in the Card Member loans reserve for credit losses for the three months ended March 31: Three Months Ended March 31, (Millions) 2021 2020 Beginning Balance $ 5,344 $ 4,027 Provisions (a) (573) 1,876 Net write-offs (b) Principal (241) (518) Interest and fees (63) (107) Other (c) — (42) Ending Balance $ 4,467 $ 5,236 (a) Provisions for principal, interest and fee reserve components. Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. (b) Principal write-offs are presented less recoveries of $168 million and $145 million for the three months ended March 31, 2021 and 2020, respectively. Recoveries of interest and fees were not significant. Amounts include net (write-offs) recoveries from TDRs of $(45) million and $(31) million for the three months March 31, 2021 and 2020, respectively. (c) Primarily includes foreign currency translation adjustments of $(1) million and $(42) million for the three months ended March 31, 2021 and 2020, respectively.
Card Member Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Schedule of Changes in Card Member Loans and Receivables	The following table presents changes in the Card Member receivables reserve for credit losses for the three months ended March 31: Three Months Ended March 31, (Millions) 2021 2020 Beginning Balance (a) $ 267 $ 126 Provisions (a) (10) 597 Net write-offs (b) (53) (258) Other (c) (2) (6) Ending Balance $ 202 $ 459 (a) Provisions for principal and fee reserve components. Provisions for credit losses includes reserve build (release) and replenishment for net write-offs. (b) Net write-offs are presented less recoveries of $97 million and $92 million for the three months ended March 31, 2021 and 2020, respectively. Amounts include net (write-offs) recoveries from TDRs of $(20) million and $(7) million for the three months ended March 31, 2021 and 2020, respectively. (c) Primarily includes foreign currency translation adjustments of $(1) million and $(5) million for the three months ended March 31, 2021 and 2020, respectively.

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of available for sale securities by type	The following is a summary of investment securities as of March 31, 2021 and December 31, 2020: 2021 2020 Description of Securities (Millions) Cost Gross Gross Estimated Cost Gross Gross Estimated Available-for-sale debt securities: State and municipal obligations $ 145 $ 5 $ (1) $ 149 $ 172 $ 7 $ — $ 179 U.S. Government agency obligations 7 — — 7 7 — — 7 U.S. Government treasury obligations 20,356 64 — 20,420 20,655 76 — 20,731 Mortgage-backed securities (a) 25 2 — 27 28 2 — 30 Foreign government bonds and obligations 575 — — 575 581 — — 581 Other (b) 42 — — 42 22 — — 22 Equity securities (c) 52 1 (3) 50 56 27 (2) 81 Total $ 21,202 $ 72 $ (4) $ 21,270 $ 21,521 $ 112 $ (2) $ 21,631 (a) Represents mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae. (b) Represents investments in Corporate debt securities and debt securities issued by Community Development Financial Institutions. (c) Equity securities comprise investments in common stock, exchange-traded funds and mutual funds.
Available-for-sale securities, continuous unrealized loss position, fair value	The following table provides information about our available-for-sale debt securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2021. There were no available-for-sale debt securities with gross unrealized losses as of December 31, 2020. 2021 Less than 12 months 12 months or more Description of Securities (Millions) Estimated Fair Value Gross Estimated Fair Value Gross State and municipal obligations $ 35 $ (1) $ — $ — Total $ 35 $ (1) $ — $ —
Available for sale securities ratio of fair value to amortized cost	The following table summarizes the gross unrealized losses by ratio of fair value to amortized cost as of March 31, 2021. There were no available-for-sale debt securities with gross unrealized losses as of December 31, 2020. Less than 12 months 12 months or more Total Ratio of Fair Value to Amortized Cost (Dollars in millions) Number of Estimated Gross Number of Estimated Gross Number of Estimated Gross 2021: 90%–100% 9 $ 34 $ (1) — $ — $ — 9 $ 34 $ (1) Less than 90% 1 1 — — — — 1 1 — Total as of March 31, 2021 10 $ 35 $ (1) — $ — $ — 10 $ 35 $ (1)
Contractual maturities of investment securities	Contractual maturities for investment securities with stated maturities as of March 31, 2021 were as follows: (Millions) Cost Estimated Due within 1 year $ 19,792 $ 19,815 Due after 1 year but within 5 years 1,208 1,247 Due after 5 years but within 10 years 36 42 Due after 10 years 114 116 Total $ 21,150 $ 21,220

Customer Deposits (Tables)

Customer Deposits (Tables)	3 Months Ended
	Mar. 31, 2021
Deposits [Abstract]
Deposits by component alternative	As of March 31, 2021 and December 31, 2020, customer deposits were categorized as interest-bearing or non-interest-bearing as follows: (Millions) 2021 2020 U.S.: Interest-bearing $ 88,088 $ 85,583 Non-interest-bearing (includes Card Member credit balances of: 2021, $461; 2020, $576) 483 599 Non-U.S.: Interest-bearing 19 19 Non-interest-bearing (includes Card Member credit balances of: 2021, $600; 2020, $671) 603 674 Total customer deposits $ 89,193 $ 86,875
Deposits by type	Customer deposits by deposit type as of March 31, 2021 and December 31, 2020 were as follows: (Millions) 2021 2020 U.S. retail deposits: Savings accounts – Direct $ 66,823 $ 63,512 Certificates of deposit: Direct 2,211 2,440 Third-party (brokered) 5,005 5,561 Sweep accounts – Third-party (brokered) 14,049 14,070 Other deposits: U.S. non-interest bearing deposits 22 23 Non-U.S. deposits 22 22 Card Member credit balances ― U.S. and non-U.S. 1,061 1,247 Total customer deposits $ 89,193 $ 86,875
Time deposits by maturity	The scheduled maturities of certificates of deposit as of March 31, 2021 were as follows: (Millions) U.S. Non-U.S. Total 2021 $ 2,959 $ 6 $ 2,965 2022 3,101 2 3,103 2023 664 — 664 2024 279 — 279 2025 209 — 209 After 5 years 4 — 4 Total $ 7,216 $ 8 $ 7,224
Time deposits $250,000 or more	As of March 31, 2021 and December 31, 2020, certificates of deposit in denominations of $250,000 or more, in the aggregate, were as follows: (Millions) 2021 2020 U.S. $ 849 $ 930 Non-U.S. 1 1 Total $ 850 $ 931

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments in statement of financial position, fair value	The following table summarizes the total fair value, excluding interest accruals, of derivative assets and liabilities as of March 31, 2021 and December 31, 2020: Other Assets Fair Value Other Liabilities Fair Value (Millions) 2021 2020 2021 2020 Derivatives designated as hedging instruments: Fair value hedges - Interest rate contracts (a) $ 390 $ 500 $ — $ — Net investment hedges - Foreign exchange contracts 93 24 110 474 Total derivatives designated as hedging instruments 483 524 110 474 Derivatives not designated as hedging instruments: Foreign exchange contracts 146 105 102 228 Total derivatives, gross 629 629 212 702 Derivative asset and derivative liability netting (b) (111) (98) (111) (98) Cash collateral netting (c) (392) (500) (1) (16) Total derivatives, net $ 126 $ 31 $ 100 $ 588 (a) For our centrally cleared derivatives, variation margin payments are legally characterized as settlement payments as opposed to collateral. (b) Represents the amount of netting of derivative assets and derivative liabilities executed with the same counterparty under an enforceable master netting arrangement. (c) Represents the offsetting of the fair value of bilateral interest rate contracts and certain foreign exchange contracts with the right to cash collateral held from the counterparty or cash collateral posted with the counterparty.
Effect of fair value hedges on results of operations	The following table presents the gains and losses recognized in Interest expense on the Consolidated Statements of Income associated with the fair value hedges of our fixed-rate long-term debt for the three months ended March 31: Gains (losses) Three Months Ended (Millions) 2021 2020 Fixed-rate long-term debt $ 143 $ (597) Derivatives designated as hedging instruments (145) 611 Total $ (2) $ 14

Fair Values (Tables)

Fair Values (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair value assets and liabilities measured on recurring basis	The following table summarizes our financial assets and financial liabilities measured at fair value on a recurring basis, categorized by GAAP’s fair value hierarchy, as of March 31, 2021 and December 31, 2020 2021 2020 (Millions) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Investment securities: (a) Equity securities $ 50 $ 49 $ 1 $ — $ 81 $ 80 $ 1 $ — Debt securities (b) 21,220 — 21,200 20 21,550 — 21,550 — Derivatives, gross (a) 629 — 629 — 629 — 629 — Total Assets 21,899 49 21,830 20 22,260 80 22,180 — Liabilities: Derivatives, gross (a) 212 — 212 — 702 — 702 — Total Liabilities $ 212 $ — $ 212 $ — $ 702 $ — $ 702 $ — (a) Refer to Note 4 for the fair values of investment securities and to Note 8 for the fair values of derivative assets and liabilities, on a further disaggregated basis. (b) Level 3 fair value amount represents investments in debt securities issued by Community Development Financial Institutions.
Estimated fair value of financial assets and financial liabilities	The following table summarizes the estimated fair values of our financial assets and financial liabilities that are measured at amortized cost, and not required to be carried at fair value on a recurring basis, as of March 31, 2021 and December 31, 2020. The fair values of these financial instruments are estimates based upon the market conditions and perceived risks as of March 31, 2021 and December 31, 2020, and require management’s judgment. These figures may not be indicative of future fair values, nor can the fair value of American Express be estimated by aggregating the amounts presented. Carrying Corresponding Fair Value Amount 2021 (Billions) Total Level 1 Level 2 Level 3 Financial Assets: Financial assets for which carrying values equal or approximate fair value Cash and cash equivalents (a) $ 40 $ 40 $ 39 $ 1 $ — Other financial assets (b) 44 44 — 44 — Financial assets carried at other than fair value Card Member and Other loans, less reserves (c) 68 72 — — 72 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 103 103 — 103 — Financial liabilities carried at other than fair value Certificates of deposit (d) 7 7 — 7 — Long-term debt (c) $ 42 $ 44 $ — $ 44 $ — Carrying Corresponding Fair Value Amount 2020 (Billions) Total Level 1 Level 2 Level 3 Financial Assets: Financial assets for which carrying values equal or approximate fair value Cash and cash equivalents (a) $ 33 $ 33 $ 31 $ 2 $ — Other financial assets (b) 46 46 — 46 — Financial assets carried at other than fair value Card Member and Other loans, less reserves (c) 71 75 — — 75 Financial Liabilities: Financial liabilities for which carrying values equal or approximate fair value 101 101 — 101 — Financial liabilities carried at other than fair value Certificates of deposit (d) 8 8 — 8 — Long-term debt (c) $ 43 $ 45 $ — $ 45 $ — (a) Level 2 fair value amounts reflect time deposits and short-term investments. (b) Balances include Card Member receivables (including fair values of Card Member receivables of $4.2 billion held by a consolidated VIE as of both March 31, 2021 and December 31, 2020), other receivables and other miscellaneous assets. (c) Balances include amounts held by a consolidated VIE for which the fair values of Card Member loans were $24.2 billion and $25.8 billion as of March 31, 2021 and December 31, 2020, respectively, and the fair values of Long-term debt were $13.0 billion as of both March 31, 2021 and December 31, 2020. (d) Presented as a component of Customer deposits on the Consolidated Balance Sheets.

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2021
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Components of comprehensive income (loss), net of tax	Changes in each component for the three months ended March 31, 2021 and 2020 were as follows: Three Months Ended March 31, 2021 (Millions), net of tax Net Unrealized Foreign Currency Net Unrealized Accumulated Other Balances as of December 31, 2020 $ 65 $ (2,229) $ (731) $ (2,895) Net unrealized losses (12) — — (12) Net translation on investments in foreign operations — (23) — (23) Net hedges of investments in foreign operations — 6 — 6 Pension and other postretirement benefits — — 26 26 Net change in accumulated other comprehensive income (loss) (12) (17) 26 (3) Balances as of March 31, 2021 $ 53 $ (2,246) $ (705) $ (2,898) Three Months Ended March 31, 2020 (Millions), net of tax Net Unrealized Foreign Currency Net Unrealized Accumulated Balances as of December 31, 2019 $ 33 $ (2,189) $ (581) $ (2,737) Net unrealized gains 57 — — 57 Net translation on investments in foreign operations — (1,054) — (1,054) Net hedges of investments in foreign operations — 732 — 732 Pension and other postretirement benefits — — 6 6 Net change in accumulated other comprehensive income (loss) 57 (322) 6 (259) Balances as of March 31, 2020 $ 90 $ (2,511) $ (575) $ (2,996) The following table shows the tax impact for the three months ended March 31 for the changes in each component of AOCI presented above: Tax expense (benefit) Three Months Ended (Millions) 2021 2020 Net unrealized (losses) gains on debt securities $ (3) $ 18 Net translation on investments in foreign operations 8 30 Net hedges of investments in foreign operations — 230 Pension and other postretirement benefits 11 12 Total tax impact $ 16 $ 290

Other Fees and Commissions an_2

Other Fees and Commissions and Other Expenses (Tables)	3 Months Ended
	Mar. 31, 2021
Other Fees and Commissions and Other Expenses [Abstract]
Other commissions and fees	The following is a detail of Other fees and commissions for the three months ended March 31: Three Months Ended (Millions) 2021 2020 Fees charged to Card Members: Delinquency fees $ 148 $ 260 Foreign currency conversion fee revenue 96 193 Other customer fees: Loyalty coalition-related fees 124 108 Travel commissions and fees 33 60 Service fees and other (a) 119 99 Total Other fees and commissions $ 520 $ 720 (a) Other includes Membership Rewards program fees that are not related to contracts with customers.
Other net expense	The following is a detail of Other expenses for the three months ended March 31: Three Months Ended (Millions) 2021 2020 Data processing and equipment (a) $ 582 $ 549 Professional services 403 439 Net unrealized gains on Amex Ventures equity investments (b) (377) (15) Other (c) 262 316 Total Other expenses $ 870 $ 1,289 (a) Effective for the first quarter of 2021, we changed the expense category name from Occupancy and equipment to Data processing and equipment to better reflect the nature and components of the expense. (b) Represents net unrealized gains on equity investments without a readily determinable fair value. (c) Other expense primarily includes general operating expenses, non-income taxes, communication expenses, Card Member and merchant-related fraud losses, foreign currency-related gains and losses and litigation expenses.

Earnings Per Common Share (EP_2

Earnings Per Common Share (EPS) (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Computation of basic and diluted EPS	The computations of basic and diluted EPS for the three months ended March 31 were as follows: Three Months Ended (Millions, except per share amounts) 2021 2020 Numerator: Basic and diluted: Net income $ 2,235 $ 367 Preferred dividends (14) (32) Net income available to common shareholders $ 2,221 $ 335 Earnings allocated to participating share awards (a) (15) (2) Net income attributable to common shareholders $ 2,206 $ 333 Denominator: (a) Basic: Weighted-average common stock 804 807 Add: Weighted-average stock options (b) 1 1 Diluted 805 808 Basic EPS $ 2.74 $ 0.41 Diluted EPS $ 2.74 $ 0.41 (a) Our unvested restricted stock awards, which include the right to receive non-forfeitable dividends or dividend equivalents, are considered participating securities. Calculations of EPS under the two-class method exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities. The related participating securities are similarly excluded from the denominator. (b) The dilutive effect of unexercised stock options excludes from the computation of EPS 0.3 million of options for both the three months ended March 31, 2021 and 2020, because inclusion of the options would have been anti-dilutive.

Reportable Operating Segments (

Reportable Operating Segments (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Operating segment information	The following table presents certain selected financial information for our reportable operating segments and Corporate & Other as of or for the three months ended March 31: Three Months Ended March 31, 2021 (Millions, except where indicated) GCSG GCS GMNS Corporate & Other (a) Consolidated Total non-interest revenues $ 3,690 $ 2,432 $ 1,190 $ (78) $ 7,234 Revenue from contracts with customers (b) 2,490 2,053 1,118 (7) 5,654 Interest income 1,807 336 4 45 2,192 Interest expense 187 116 (17) 76 362 Total revenues net of interest expense 5,310 2,652 1,211 (109) 9,064 Pretax segment income (loss) $ 2,124 $ 665 $ 414 $ (210) $ 2,993 Total assets (billions) $ 81 $ 42 $ 14 $ 56 $ 193 Three Months Ended March 31, 2020 (Millions, except where indicated) GCSG GCS GMNS Corporate & Other (a) Consolidated Total non-interest revenues $ 3,894 $ 2,788 $ 1,346 $ (48) $ 7,980 Revenue from contracts with customers (b) 2,693 2,372 1,245 (14) 6,296 Interest income 2,411 499 6 130 3,046 Interest expense 328 200 (36) 224 716 Total revenues net of interest expense 5,977 3,087 1,388 (142) 10,310 Pretax segment income (loss) $ 231 $ 19 $ 551 $ (349) $ 452 Total assets (billions) $ 87 $ 47 $ 10 $ 42 $ 186 (a) Corporate & Other includes adjustments and eliminations for intersegment activity. (b) Includes discount revenue, certain other fees and commissions and other revenues from customers.

Basis of Presentation (Details

Basis of Presentation (Details Textuals) - USD ($) $ in Millions	Jan. 01, 2021	Mar. 31, 2021	Mar. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income tax provision		$ 758	$ 85
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2014-01
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income tax provision	$ 55

Loans and Card Member Receiva_3

Loans and Card Member Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Card Member Loans
Loans segment information
Financing receivables, gross	$ 70,100	$ 73,373
Less: Reserves for credit losses	4,467	5,344	$ 5,236	$ 4,027
Financing receivables, net	65,633	68,029
Other Loans
Loans segment information
Less: Reserves for credit losses	143	238
Financing receivables, net	2,133	2,614
Card Member Receivables
Loans segment information
Financing receivables, gross	42,002	43,701
Less: Reserves for credit losses	202	267	$ 459	$ 126
Financing receivables, net	41,800	43,434
PPP Loans | Other Loans
Loans segment information
Financing receivables, gross	500	600
Variable Interest Entity, Primary Beneficiary | Card Member Loans
Loans segment information
Financing receivables, gross	24,088	25,908
Variable Interest Entity, Primary Beneficiary | Card Member Receivables
Loans segment information
Financing receivables, gross	4,221	4,296
GCSG | Card Member Loans
Loans segment information
Financing receivables, gross	56,265	60,084
GCSG | Card Member Receivables
Loans segment information
Financing receivables, gross	17,228	18,685
GCSG | Variable Interest Entity, Primary Beneficiary | Card Member Loans
Loans segment information
Financing receivables, gross	24,100	25,900
GCS | Card Member Loans
Loans segment information
Financing receivables, gross	13,835	13,289
GCS | Card Member Receivables
Loans segment information
Financing receivables, gross	24,774	25,016
GCS | Variable Interest Entity, Primary Beneficiary | Card Member Receivables
Loans segment information
Financing receivables, gross	$ 4,200	$ 4,300

Loans and Card Member Receiva_4

Loans and Card Member Receivables (Details 1) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Card Member Loans
Financing receivable recorded investment aging
Total	$ 70,100	$ 73,373
Card Member Receivables
Financing receivable recorded investment aging
Total	42,002	43,701
GCSG | Card Member Loans
Financing receivable recorded investment aging
Current	55,728	59,442
Total	56,265	60,084
GCSG | Card Member Receivables
Financing receivable recorded investment aging
Current	17,129	18,570
Total	17,228	18,685
GCSG | 30 to 59 Days Past Due | Card Member Loans
Financing receivable recorded investment aging
Period past due	139	177
GCSG | 30 to 59 Days Past Due | Card Member Receivables
Financing receivable recorded investment aging
Period past due	29	33
GCSG | 60 to 89 Days Past Due | Card Member Loans
Financing receivable recorded investment aging
Period past due	106	148
GCSG | 60 to 89 Days Past Due | Card Member Receivables
Financing receivable recorded investment aging
Period past due	20	26
GCSG | 90+ Days Past Due | Card Member Loans
Financing receivable recorded investment aging
Period past due	292	317
GCSG | 90+ Days Past Due | Card Member Receivables
Financing receivable recorded investment aging
Period past due	50	56
GCS | Card Member Loans
Financing receivable recorded investment aging
Total	13,835	13,289
GCS | Card Member Loans | Global Small Business Services
Financing receivable recorded investment aging
Current	13,682	13,132
Total	13,762	13,226
GCS | Card Member Loans | Global Corporate Payments
Financing receivable recorded investment aging
Total	73	63
GCS | Card Member Receivables
Financing receivable recorded investment aging
Total	24,774	25,016
GCS | Card Member Receivables | Global Small Business Services
Financing receivable recorded investment aging
Current	14,191	14,023
Total	14,277	14,119
GCS | Card Member Receivables | Global Corporate Payments
Financing receivable recorded investment aging
Total	10,497	10,897
GCS | 30 to 59 Days Past Due | Card Member Loans | Global Small Business Services
Financing receivable recorded investment aging
Period past due	24	27
GCS | 30 to 59 Days Past Due | Card Member Receivables | Global Small Business Services
Financing receivable recorded investment aging
Period past due	33	37
GCS | 60 to 89 Days Past Due | Card Member Loans | Global Small Business Services
Financing receivable recorded investment aging
Period past due	18	20
GCS | 60 to 89 Days Past Due | Card Member Receivables | Global Small Business Services
Financing receivable recorded investment aging
Period past due	21	21
GCS | 90+ Days Past Due | Card Member Loans | Global Small Business Services
Financing receivable recorded investment aging
Period past due	38	47
GCS | 90+ Days Past Due | Card Member Loans | Global Corporate Payments
Financing receivable recorded investment aging
Period past due	0	0
GCS | 90+ Days Past Due | Card Member Receivables | Global Small Business Services
Financing receivable recorded investment aging
Period past due	32	38
GCS | 90+ Days Past Due | Card Member Receivables | Global Corporate Payments
Financing receivable recorded investment aging
Period past due	$ 47	$ 60

Loans and Card Member Receiva_5

Loans and Card Member Receivables (Details 2)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
GCSG | Card Member Loans
Credit Quality Indicator for Loans and Receivables
30+ Days Past Due as a % of Total	1.00%	1.70%
GCSG | Card Member Loans | Net Write-Off Rate - Principal Only
Credit Quality Indicator for Loans and Receivables
Net Write-Off Rate	1.40%	2.60%
GCSG | Card Member Loans | Net Write-Off Rate Principal Interest, and Fees
Credit Quality Indicator for Loans and Receivables
Net Write-Off Rate	1.80%	3.20%
GCSG | Card Member Receivables
Credit Quality Indicator for Loans and Receivables
30+ Days Past Due as a % of Total	0.60%	1.70%
GCSG | Card Member Receivables | Net Write-Off Rate - Principal Only
Credit Quality Indicator for Loans and Receivables
Net Write-Off Rate	0.50%	2.00%
GCSG | Card Member Receivables | Net Write-Off Rate Principal Interest, and Fees
Credit Quality Indicator for Loans and Receivables
Net Write-Off Rate	0.60%	2.20%
GCS | Global Small Business Services | Card Member Loans
Credit Quality Indicator for Loans and Receivables
30+ Days Past Due as a % of Total	0.60%	1.40%
GCS | Global Small Business Services | Card Member Loans | Net Write-Off Rate - Principal Only
Credit Quality Indicator for Loans and Receivables
Net Write-Off Rate	1.00%	1.90%
GCS | Global Small Business Services | Card Member Loans | Net Write-Off Rate Principal Interest, and Fees
Credit Quality Indicator for Loans and Receivables
Net Write-Off Rate	1.20%	2.20%
GCS | Global Small Business Services | Card Member Receivables
Credit Quality Indicator for Loans and Receivables
30+ Days Past Due as a % of Total	0.60%	2.00%
GCS | Global Small Business Services | Card Member Receivables | Net Write-Off Rate - Principal Only
Credit Quality Indicator for Loans and Receivables
Net Write-Off Rate	0.50%	2.20%
GCS | Global Small Business Services | Card Member Receivables | Net Write-Off Rate Principal Interest, and Fees
Credit Quality Indicator for Loans and Receivables
Net Write-Off Rate	0.50%	2.50%
GCS | Global Corporate Payments
Credit Quality Indicator for Loans and Receivables
90+ Days Past Billing as a % of total	0.40%	1.10%
GCS | Global Corporate Payments | Card Member Receivables | Net Write-Off Rate Principal Interest, and Fees
Credit Quality Indicator for Loans and Receivables
Net Write-Off Rate	0.40%	1.00%

Loans and Card Member Receiva_6

Loans and Card Member Receivables (Details 3) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Impaired loans and receivables
Loans over 90 days past due and accruing interest	$ 201	$ 226
Non-accrual loans	149	176
Loans and receivables modified as a Troubled Debt Restructuring in Program	2,856	3,086
Loans and receivables modified as Troubled Debt Restructuring Out of Program	522	430
Total impaired loans and receivables	3,728	3,918
Reserve for Credit Losses - TDRs	1,251	1,346
Accounts Receivable and Loans Textuals
Total loans and receivables modified as a TDR, past due 90 days and still accruing	35	32
Total loans and receivables modified as a TDR, non-accrual	12	11
Out of Program TDR accounts that completed modification programs	395	316
Out of Program TDR accounts not in compliance with modification programs	127	114
Other Loans
Impaired loans and receivables
Loans over 90 days past due and accruing interest	1	2
Non-accrual loans	1	1
Loans and receivables modified as a Troubled Debt Restructuring in Program	196	248
Loans and receivables modified as Troubled Debt Restructuring Out of Program	7	6
Total impaired loans and receivables	205	257
Reserve for Credit Losses - TDRs	65	80
GCSG | Card Member Loans
Impaired loans and receivables
Loans over 90 days past due and accruing interest	183	203
Non-accrual loans	126	146
Loans and receivables modified as a Troubled Debt Restructuring in Program	1,550	1,586
Loans and receivables modified as Troubled Debt Restructuring Out of Program	293	248
Total impaired loans and receivables	2,152	2,183
Reserve for Credit Losses - TDRs	733	782
GCSG | Card Member Receivables
Impaired loans and receivables
Loans over 90 days past due and accruing interest	0	0
Non-accrual loans	0	0
Loans and receivables modified as a Troubled Debt Restructuring in Program	219	240
Loans and receivables modified as Troubled Debt Restructuring Out of Program	41	34
Total impaired loans and receivables	260	274
Reserve for Credit Losses - TDRs	64	60
GCS | Card Member Loans
Impaired loans and receivables
Loans over 90 days past due and accruing interest	17	21
Non-accrual loans	22	29
Loans and receivables modified as a Troubled Debt Restructuring in Program	452	478
Loans and receivables modified as Troubled Debt Restructuring Out of Program	84	67
Total impaired loans and receivables	575	595
Reserve for Credit Losses - TDRs	252	285
GCS | Card Member Receivables
Impaired loans and receivables
Loans over 90 days past due and accruing interest	0	0
Non-accrual loans	0	0
Loans and receivables modified as a Troubled Debt Restructuring in Program	439	534
Loans and receivables modified as Troubled Debt Restructuring Out of Program	97	75
Total impaired loans and receivables	536	609
Reserve for Credit Losses - TDRs	$ 137	$ 139

Loans and Card Member Receiva_7

Loans and Card Member Receivables (Details 4) account in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)account	Mar. 31, 2020USD ($)account
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Accounts | account	46	27
Outstanding Balances | $	$ 412	$ 269
Card Member Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Accounts | account	38	24
Outstanding Balances | $	$ 287	$ 195
Average Interest Rate Reduction (as a percentage)	13.00%	14.00%
Card Member Receivables
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Accounts | account	7	3
Outstanding Balances | $	$ 117	$ 74
Average Payment Term Extension (in months)	18 months	25 months
Other Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Accounts | account	1
Outstanding Balances | $	$ 8
Average Interest Rate Reduction (as a percentage)	3.00%
Average Payment Term Extension (in months)	15 months

Loans and Card Member Receiva_8

Loans and Card Member Receivables (Details 5) account in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)account	Mar. 31, 2020USD ($)account
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Accounts | account	9	5
Aggregated Outstanding Balance Upon Default | $	$ 71	$ 37
Card Member Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Accounts | account	7	4
Aggregated Outstanding Balance Upon Default | $	$ 47	$ 28
Card Member Receivables
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Accounts | account	1	1
Aggregated Outstanding Balance Upon Default | $	$ 19	$ 9
Other Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Accounts | account	1
Aggregated Outstanding Balance Upon Default | $	$ 5

Reserves for Credit Losses (Det

Reserves for Credit Losses (Details)	Mar. 31, 2021	Dec. 31, 2020
U.S. Unemployment Rate | First quarter of 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input	0.06
U.S. Unemployment Rate | Minimum | First quarter of 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input		0.07
U.S. Unemployment Rate | Minimum | Fourth quarter of 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input	0.06	0.07
U.S. Unemployment Rate | Minimum | Fourth quarter of 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input	0.04	0.06
U.S. Unemployment Rate | Minimum | Fourth quarter of 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input	0.04	0.04
U.S. Unemployment Rate | Maximum | First quarter of 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input		0.08
U.S. Unemployment Rate | Maximum | Fourth quarter of 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input	0.09	0.11
U.S. Unemployment Rate | Maximum | Fourth quarter of 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input	0.11	0.12
U.S. Unemployment Rate | Maximum | Fourth quarter of 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input	0.10	0.10
U.S. GDP Growth (Contraction) | First quarter of 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input	0.03
U.S. GDP Growth (Contraction) | Minimum | First quarter of 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input		0.04
U.S. GDP Growth (Contraction) | Minimum | Fourth quarter of 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input	0.06	0.06
U.S. GDP Growth (Contraction) | Minimum | Fourth quarter of 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input	0.04	0.04
U.S. GDP Growth (Contraction) | Minimum | Fourth quarter of 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input	0.05	0.05
U.S. GDP Growth (Contraction) | Maximum | First quarter of 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input		(0.05)
U.S. GDP Growth (Contraction) | Maximum | Fourth quarter of 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input	(0.02)	(0.02)
U.S. GDP Growth (Contraction) | Maximum | Fourth quarter of 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input	0.02	0.03
U.S. GDP Growth (Contraction) | Maximum | Fourth quarter of 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, reserves for credit losses, measurement input	0.02	0.03

Reserves for Credit Losses (D_2

Reserves for Credit Losses (Details 1) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Reserve for Losses [Roll Forward]
Provisions	$ (675)	$ 2,621
Card Member Loans
Reserve for Losses [Roll Forward]
Beginning Balance	5,344	4,027
Provisions	(573)	1,876
Other	0	(42)
Ending Balance	4,467	5,236
Net (write-offs) recoveries from TDRs	(45)	(31)
Foreign currency translation adjustments	(1)	(42)
Card Member Loans | Principal
Reserve for Losses [Roll Forward]
Net write-offs	(241)	(518)
Recoveries	168	145
Card Member Loans | Interest and fees
Reserve for Losses [Roll Forward]
Net write-offs	$ (63)	$ (107)

Reserves for Credit Losses (D_3

Reserves for Credit Losses (Details 2) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Reserve for Losses [Roll Forward]
Provisions	$ (675)	$ 2,621
Card Member Receivables
Reserve for Losses [Roll Forward]
Beginning Balance	267	126
Provisions	(10)	597
Net write-offs	(53)	(258)
Other	(2)	(6)
Ending Balance	202	459
Recoveries	97	92
Net (write-offs) recoveries from TDRs	(20)	(7)
Foreign currency translation adjustments	$ (1)	$ (5)

Investment Securities (Details)

Investment Securities (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Accrued interest available-for-sale debt securities	$ 53	$ 26
Available-for-sale debt securities:
Cost	21,150
Estimated Fair Value	21,220
Equity securities
Cost	52	56
Gross Unrealized Gains	1	27
Gross Unrealized Losses	(3)	(2)
Estimated Fair Value	50	81
Total Cost	21,202	21,521
Total Gross Unrealized Gains	72	112
Total Gross Unrealized Losses	(4)	(2)
Total Estimated Fair Value	21,270	21,631
State and municipal obligations
Available-for-sale debt securities:
Cost	145	172
Gross Unrealized Gains	5	7
Gross Unrealized Losses	(1)	0
Estimated Fair Value	149	179
U.S. Government agency obligations
Available-for-sale debt securities:
Cost	7	7
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	7	7
U.S. Government treasury obligations
Available-for-sale debt securities:
Cost	20,356	20,655
Gross Unrealized Gains	64	76
Gross Unrealized Losses	0	0
Estimated Fair Value	20,420	20,731
Mortgage-backed securities
Available-for-sale debt securities:
Cost	25	28
Gross Unrealized Gains	2	2
Gross Unrealized Losses	0	0
Estimated Fair Value	27	30
Foreign government bonds and obligations
Available-for-sale debt securities:
Cost	575	581
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	575	581
Other Debt Obligations
Available-for-sale debt securities:
Cost	42	22
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	$ 42	$ 22

Investment Securities (Details

Investment Securities (Details 1) $ in Millions	Mar. 31, 2021USD ($)security	Dec. 31, 2020security
Debt Securities, Available-for-sale [Line Items]
Number of securities with gross unrealized losses | security	10	0
Estimated Fair Value
Less than 12 months	$ 35
12 months or more	0
Gross Unrealized Losses
Less than 12 months	(1)
12 months or more	0
State and municipal obligations
Estimated Fair Value
Less than 12 months	35
12 months or more	0
Gross Unrealized Losses
Less than 12 months	(1)
12 months or more	$ 0

Investment Securities (Detail_2

Investment Securities (Details 2) $ in Millions	Mar. 31, 2021USD ($)security	Dec. 31, 2020security
Number of Securities
Less than 12 months | security	10
12 months or more | security	0
Total | security	10	0
Estimated Fair Value
Less than 12 months	$ 35
12 months or more	0
Total	35
Gross Unrealized Losses
Less than 12 months	(1)
12 months or more	0
Total	$ (1)
90%-100%
Number of Securities
Less than 12 months | security	9
12 months or more | security	0
Total | security	9
Estimated Fair Value
Less than 12 months	$ 34
12 months or more	0
Total	34
Gross Unrealized Losses
Less than 12 months	(1)
12 months or more	0
Total	$ (1)
Less than 90%
Number of Securities
Less than 12 months | security	1
12 months or more | security	0
Total | security	1
Estimated Fair Value
Less than 12 months	$ 1
12 months or more	0
Total	1
Gross Unrealized Losses
Less than 12 months	0
12 months or more	0
Total	$ 0

Investment Securities (Detail_3

Investment Securities (Details 3) $ in Millions	Mar. 31, 2021USD ($)
Cost
Due within 1 year	$ 19,792
Due after 1 year but within 5 years	1,208
Due after 5 years but within 10 years	36
Due after 10 years	114
Total	21,150
Estimated Fair Value
Due within 1 year	19,815
Due after 1 year but within 5 years	1,247
Due after 5 years but within 10 years	42
Due after 10 years	116
Total	$ 21,220

Asset Securitizations (Details)

Asset Securitizations (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Assets from Trusts [Line Items]
Restricted cash included in Cash and cash equivalents	$ 527	$ 606	$ 2,513	$ 514
American Express Lending Trust
Assets from Trusts [Line Items]
Direct and Indirect ownership of variable interests	11,600	13,400
Restricted cash included in Cash and cash equivalents	46	47
American Express Charge Trust
Assets from Trusts [Line Items]
Direct and Indirect ownership of variable interests	4,200	4,300
Restricted cash included in Cash and cash equivalents	$ 0	$ 0

Customer Deposits (Details)

Customer Deposits (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
U.S.:
Interest-bearing	$ 88,088	$ 85,583
Non-interest-bearing (includes Card Member credit balances of: 2021, $461; 2020, $576)	483	599
Non-U.S.:
Interest-bearing	19	19
Non-interest-bearing (includes Card Member credit balances of: 2021, $600; 2020, $671)	603	674
Total customer deposits	89,193	86,875
Card Member Credit Balances
U.S.:
Non-interest-bearing (includes Card Member credit balances of: 2021, $461; 2020, $576)	461	576
Non-U.S.:
Non-interest-bearing (includes Card Member credit balances of: 2021, $600; 2020, $671)	$ 600	$ 671

Customer Deposits (Details 1)

Customer Deposits (Details 1) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
U.S. retail deposits:
Savings accounts – Direct	$ 66,823	$ 63,512
Certificates of deposit:
Direct	2,211	2,440
Third-party (brokered)	5,005	5,561
Sweep accounts – Third-party (brokered)	14,049	14,070
Other deposits:
U.S. non-interest bearing deposits	22	23
Non-U.S. deposits	22	22
Card Member credit balances ― U.S. and non-U.S.	1,061	1,247
Total customer deposits	$ 89,193	$ 86,875

Customer Deposits (Details 2)

Customer Deposits (Details 2) $ in Millions	Mar. 31, 2021USD ($)
Time Deposits By Maturity
2021	$ 2,965
2022	3,103
2023	664
2024	279
2025	209
After 5 years	4
Total	7,224
U.S.
Time Deposits By Maturity
2021	2,959
2022	3,101
2023	664
2024	279
2025	209
After 5 years	4
Total	7,216
Non-U.S.
Time Deposits By Maturity
2021	6
2022	2
2023	0
2024	0
2025	0
After 5 years	0
Total	$ 8

Customer Deposits (Details 3)

Customer Deposits (Details 3) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Time Deposits $250,000 Or More [Line Items]
Time Deposits, $250,000 or More	$ 850	$ 931
U.S.
Time Deposits $250,000 Or More [Line Items]
Time Deposits, $250,000 or More	849	930
Non-U.S.
Time Deposits $250,000 Or More [Line Items]
Time Deposits, $250,000 or More	$ 1	$ 1

Contingencies (Details Textuals

Contingencies (Details Textuals)	Mar. 31, 2021USD ($)	Jan. 29, 2019state
Minimum
Loss Contingencies [Line Items]
Current estimate of possible loss	$ 0
Maximum
Loss Contingencies [Line Items]
Current estimate of possible loss	220,000,000
Exposure Associated with Card Member Purchases of Goods and Services
Loss Contingencies [Line Items]
Loss accrual	$ 78,000,000
Violation Of Federal Antitrust Law And Consumer Laws Class Action Case
Loss Contingencies [Line Items]
Number of states with remaining claims under antitrust laws | state		11
Number of states with remaining claims under consumer protection laws | state		6

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets	$ 629	$ 629
Total fair value of derivative liabilities	212	702
Derivative asset and derivative liability netting, assets	(111)	(98)
Derivative asset and derivative liability netting, liabilities	(111)	(98)
Other Assets
Derivatives, Fair Value [Line Items]
Total derivatives assets, net	126	31
Cash collateral netting, assets	(392)	(500)
Other Assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets	483	524
Other Assets | Interest Rate Contract | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivatives assets, net	390	500
Other Assets | Foreign Exchange Contract | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivatives assets, net	93	24
Other Assets | Foreign Exchange Contract | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total fair value of derivative assets	146	105
Other Liabilities
Derivatives, Fair Value [Line Items]
Total derivative liabilities, net	100	588
Cash collateral netting, liabilities	(1)	(16)
Other Liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total fair value of derivative liabilities	110	474
Other Liabilities | Interest Rate Contract | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative liabilities, net	0	0
Other Liabilities | Foreign Exchange Contract | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total derivative liabilities, net	110	474
Other Liabilities | Foreign Exchange Contract | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total fair value of derivative liabilities	$ 102	$ 228

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities (Details Textuals) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Derivative [Line Items]
Margin on interest rate swaps	$ 28,000,000		$ 34,000,000
Carrying values of hedged liabilities	16,200,000,000		16,400,000,000
Cumulative amount of fair value hedging adjustment	479,000,000		622,000,000
Net decrease in interest expense on long term debt and other	73,000,000	$ 21,000,000
Other Expense
Derivative [Line Items]
(Gain) loss on changes in fair value of derivatives and related underlying foreign currency exposures	5,000,000	(20,000,000)
Fair Value Hedging | Fixed-Rate Debt Obligations
Derivative [Line Items]
Fixed-rate debt obligations designated in fair value hedging relationships	15,800,000,000		15,800,000,000
Net Investment Hedges
Derivative [Line Items]
Notional amounts of derivatives	10,500,000,000		$ 10,500,000,000
Gain on net investment hedges recorded in AOCI, net of taxes	6,000,000	732,000,000
Reclassifications out of AOCI	$ 0	$ 0

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities (Details 1) - Interest Expense - Interest Rate Contract - Fair Value Hedging - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Fixed-rate long-term debt	$ 143	$ (597)
Derivatives designated as hedging instruments	(145)	611
Total	$ (2)	$ 14

Fair Values (Details)

Fair Values (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Investment securities:
Equity securities	$ 50	$ 81
Debt securities	21,220
Fair Value, Recurring
Investment securities:
Equity securities	50	81
Debt securities	21,220	21,550
Derivatives, gross	629	629
Total Assets	21,899	22,260
Liabilities
Derivatives, gross	212	702
Total Liabilities	212	702
Level 1 | Fair Value, Recurring
Investment securities:
Equity securities	49	80
Debt securities	0	0
Derivatives, gross	0	0
Total Assets	49	80
Liabilities
Derivatives, gross	0	0
Total Liabilities	0	0
Level 2 | Fair Value, Recurring
Investment securities:
Equity securities	1	1
Debt securities	21,200	21,550
Derivatives, gross	629	629
Total Assets	21,830	22,180
Liabilities
Derivatives, gross	212	702
Total Liabilities	212	702
Level 3 | Fair Value, Recurring
Investment securities:
Equity securities	0	0
Debt securities	20	0
Derivatives, gross	0	0
Total Assets	20	0
Liabilities
Derivatives, gross	0	0
Total Liabilities	$ 0	$ 0

Fair Values (Details 2)

Fair Values (Details 2) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Card Member Receivables
Fair Values (Textuals)
Financing receivables, gross	$ 42,002	$ 43,701
Card Member Loans
Fair Values (Textuals)
Financing receivables, gross	70,100	73,373
Variable Interest Entity, Primary Beneficiary | Card Member Receivables
Fair Values (Textuals)
Financing receivables, gross	4,221	4,296
Variable Interest Entity, Primary Beneficiary | Card Member Loans
Fair Values (Textuals)
Financing receivables, gross	24,088	25,908
Carrying Value
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents	40,000	33,000
Other financial assets	44,000	46,000
Financial assets carried at other than fair value
Card Member and Other loans, less reserves	68,000	71,000
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	103,000	101,000
Financial liabilities carried at other than fair value
Certificates of deposit	7,000	8,000
Long-term debt	42,000	43,000
Fair Values (Textuals)
Long-term debt	42,000	43,000
Corresponding Fair Value Amount
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents	40,000	33,000
Other financial assets	44,000	46,000
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	103,000	101,000
Corresponding Fair Value Amount | Variable Interest Entity, Primary Beneficiary | Card Member Receivables
Fair Values (Textuals)
Financing receivables, gross	4,200	4,200
Corresponding Fair Value Amount | Level 1
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents	39,000	31,000
Other financial assets	0	0
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	0	0
Corresponding Fair Value Amount | Level 2
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents	1,000	2,000
Other financial assets	44,000	46,000
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	103,000	101,000
Corresponding Fair Value Amount | Level 3
Financial assets for which carrying values equal or approximate fair value
Cash and cash equivalents	0	0
Other financial assets	0	0
Financial Liabilities:
Financial liabilities for which carrying values equal or approximate fair value	0	0
Portion at Other than Fair Value Measurement
Financial assets carried at other than fair value
Card Member and Other loans, less reserves	72,000	75,000
Financial liabilities carried at other than fair value
Certificates of deposit	7,000	8,000
Long-term debt	44,000	45,000
Fair Values (Textuals)
Long-term debt	44,000	45,000
Portion at Other than Fair Value Measurement | Variable Interest Entity, Primary Beneficiary
Financial liabilities carried at other than fair value
Long-term debt	13,000	13,000
Fair Values (Textuals)
Long-term debt	13,000	13,000
Portion at Other than Fair Value Measurement | Variable Interest Entity, Primary Beneficiary | Card Member Loans
Fair Values (Textuals)
Financing receivables, gross	24,200	25,800
Portion at Other than Fair Value Measurement | Level 1
Financial assets carried at other than fair value
Card Member and Other loans, less reserves	0	0
Financial liabilities carried at other than fair value
Certificates of deposit	0	0
Long-term debt	0	0
Fair Values (Textuals)
Long-term debt	0	0
Portion at Other than Fair Value Measurement | Level 2
Financial assets carried at other than fair value
Card Member and Other loans, less reserves	0	0
Financial liabilities carried at other than fair value
Certificates of deposit	7,000	8,000
Long-term debt	44,000	45,000
Fair Values (Textuals)
Long-term debt	44,000	45,000
Portion at Other than Fair Value Measurement | Level 3
Financial assets carried at other than fair value
Card Member and Other loans, less reserves	72,000	75,000
Financial liabilities carried at other than fair value
Certificates of deposit	0	0
Long-term debt	0	0
Fair Values (Textuals)
Long-term debt	$ 0	$ 0

Fair Values (Details Textuals)

Fair Values (Details Textuals) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net upward adjustments of equity securities without readily determinable fair values	$ 377	$ 15
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of equity securities without readily determinable fair values	911		$ 530
Net upward adjustments of equity securities without readily determinable fair values	377	$ 15
Cumulative net unrealized gains for equity investments without readily determinable fair values	$ 728		$ 347

Guarantees (Details)

Guarantees (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Guarantees [Abstract]
Maximum potential amount of undiscounted future payments	$ 1,000	$ 1,000
Amount of related liability	$ 23	$ 24

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 22,984	$ 23,071
Net change in accumulated other comprehensive income (loss)	(3)	(259)
Ending Balance	24,449	21,006
Tax impact for the changes in each component of accumulated other comprehensive (loss) income
Total tax impact	16	290
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(2,895)	(2,737)
Ending Balance	(2,898)	(2,996)
Net Unrealized Gains (Losses) on Debt Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	65	33
Net change in accumulated other comprehensive income (loss)	(12)	57
Ending Balance	53	90
Tax impact for the changes in each component of accumulated other comprehensive (loss) income
Total tax impact	(3)	18
Foreign Currency Translation Adjustment Gains (Losses)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(2,229)	(2,189)
Net change in accumulated other comprehensive income (loss)	(17)	(322)
Ending Balance	(2,246)	(2,511)
Net Translation On Investments In Foreign Operations
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net change in accumulated other comprehensive income (loss)	(23)	(1,054)
Tax impact for the changes in each component of accumulated other comprehensive (loss) income
Total tax impact	8	30
Net Hedges Of Investments In Foreign Operations
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Net change in accumulated other comprehensive income (loss)	6	732
Tax impact for the changes in each component of accumulated other comprehensive (loss) income
Total tax impact	0	230
Net Unrealized Pension and Other Postretirement Benefit Gains (Losses)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(731)	(581)
Net change in accumulated other comprehensive income (loss)	26	6
Ending Balance	(705)	(575)
Tax impact for the changes in each component of accumulated other comprehensive (loss) income
Total tax impact	$ 11	$ 12

Changes in Accumulated Other _4

Changes in Accumulated Other Comprehensive Income (Loss) (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Reclassifications out of AOCI	$ 0	$ 0

Other Fees and Commissions an_3

Other Fees and Commissions and Other Expenses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Fees charged to Card Members:
Delinquency fees	$ 148	$ 260
Foreign currency conversion fee revenue	96	193
Other customer fees:
Loyalty coalition-related fees	124	108
Travel commissions and fees	33	60
Service fees and other	119	99
Other fees and commissions
Other customer fees:
Total Other fees and commissions	$ 520	$ 720

Other Fees and Commissions an_4

Other Fees and Commissions and Other Expenses (Details 1) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other Fees and Commissions and Other Expenses [Abstract]
Data processing and equipment	$ 582	$ 549
Professional services	403	439
Net unrealized gains on Amex Ventures equity investments	(377)	(15)
Other	262	316
Total Other expenses	$ 870	$ 1,289

Income Taxes (Details Textuals)

Income Taxes (Details Textuals) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Actual tax rates	25.30%	18.80%
Unrecognized tax benefits change as a result of potential resolutions of prior years' tax	$ 133
Unrecognized tax benefits that, if recognized, could impact effective tax rate	$ 105

Earnings Per Common Share (EP_3

Earnings Per Common Share (EPS) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Basic and diluted:
Net income		$ 2,235	$ 367
Preferred dividends		(14)	(32)
Net income available to common shareholders		2,221	335
Earnings allocated to participating share awards		(15)	(2)
Net income attributable to common shareholders		$ 2,206	$ 333
Denominator:
Basic: Weighted-average common stock (in shares)		804	807
Add: Weighted-average stock options (in shares)		1	1
Diluted (in shares)		805	808
Basic EPS (in dollars per share)	[1]	$ 2.74	$ 0.41
Diluted EPS (in dollars per share)	[1]	$ 2.74	$ 0.41
Stock options
Denominator:
The dilutive effect of securities excluded from the calculation of earnings per share (in shares)		0.3	0.3
[1]	Represents net income less (i) earnings allocated to participating share awards of $15 million and $2 million for the three months ended March 31, 2021 and 2020, respectively, and (ii) dividends on preferred shares of $14 million and $32 million for the three months ended March 31, 2021 and 2020, respectively.

Reportable Operating Segments_2

Reportable Operating Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Non-interest revenues	$ 7,234	$ 7,980
Revenue from contracts with customers	5,654	6,296
Interest income	2,192	3,046
Interest expense	362	716
Total revenues net of interest expense	9,064	10,310
Pretax segment income (loss)	2,993	452
Total assets	193,067	186,000	$ 191,367
Corporate and Other
Segment Reporting Information [Line Items]
Non-interest revenues	(78)	(48)
Revenue from contracts with customers	(7)	(14)
Interest income	45	130
Interest expense	76	224
Total revenues net of interest expense	(109)	(142)
Pretax segment income (loss)	(210)	(349)
Total assets	56,000	42,000
GCSG | Operating Segments
Segment Reporting Information [Line Items]
Non-interest revenues	3,690	3,894
Revenue from contracts with customers	2,490	2,693
Interest income	1,807	2,411
Interest expense	187	328
Total revenues net of interest expense	5,310	5,977
Pretax segment income (loss)	2,124	231
Total assets	81,000	87,000
GCS | Operating Segments
Segment Reporting Information [Line Items]
Non-interest revenues	2,432	2,788
Revenue from contracts with customers	2,053	2,372
Interest income	336	499
Interest expense	116	200
Total revenues net of interest expense	2,652	3,087
Pretax segment income (loss)	665	19
Total assets	42,000	47,000
GMNS | Operating Segments
Segment Reporting Information [Line Items]
Non-interest revenues	1,190	1,346
Revenue from contracts with customers	1,118	1,245
Interest income	4	6
Interest expense	(17)	(36)
Total revenues net of interest expense	1,211	1,388
Pretax segment income (loss)	414	551
Total assets	$ 14,000	$ 10,000

Uncategorized Items - axp-20210

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201613Member