EXHIBIT 12
AMERICAN EXPRESS COMPANY
COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
<Table>
<Caption>
Nine Months Years Ended December 31,
Ended September 30, -----------------------------------------
2005 2004 2003 2002 2001
-------------------- -------- -------- -------- --------
Earnings:
Pretax income from
continuing operations $ 3,289 $ 3,831 $ 3,415 $ 3,021 $ 1,737
Interest expense 1,568 1,659 1,606 1,832 2,856
Other adjustments 77 151 154 174 175
-------------------- -------- -------- -------- --------
Total earnings (a) $ 4,934 $ 5,641 $ 5,175 $ 5,027 $ 4,768
-------------------- -------- -------- -------- --------
Fixed Charges:
Interest expense $ 1,568 $ 1,659 $ 1,606 $ 1,832 $ 2,856
Other adjustments 81 145 139 151 170
-------------------- -------- -------- -------- --------
Total fixed charges (b) $ 1,649 $ 1,804 $ 1,745 $ 1,983 $ 3,026
-------------------- -------- -------- -------- --------
Ratio of earnings to
fixed charges (a/b) 2.99 3.13 2.97 2.54 1.58
</Table>
Included in interest expense in the above computation is interest expense
related to the international banking operations and the cardmember lending
activities, which is netted against net investment income and cardmember
lending net finance charge revenue, respectively, in the Consolidated
Statements of Income.
For purposes of the "earnings" computation, other adjustments include adding
the amortization of capitalized interest, the net loss of affiliates accounted
for under the equity method whose debt is not guaranteed by the Company, the
minority interest in the earnings of majority-owned subsidiaries with fixed
charges, and the interest component of rental expense and subtracting
undistributed net income of affiliates accounted for under the equity method.
For purposes of the "fixed charges" computation, other adjustments include
capitalized interest costs and the interest component of rental expense.