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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): March 19, 2002
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AMERICAN EXPRESS CREDIT CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware 1-6908 11-1988350
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation or Identification No.)
organization)
One Christina Centre, 301 North
Walnut Street, Suite 1002, Wilmington, Delaware 19801-2919
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (302) 594-3350
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
For the year ended December 31, 2001 American Express Credit Corporation (the
"Company") expects to report (a) net income of $277 million compared to $286
million for the year ended December 31, 2000, (b) write-offs, net of
recoveries (expressed as a percentage of the volume of Cardmember receivables
purchased), of .42 percent, compared to .32 percent for the year ended
December 31, 2000, (c) a ratio of earnings to fixed charges of 1.29, and (d)
an average life of Cardmember receivables owned at both December 31, 2001 and
2000 of approximately 41 days. In addition during the years ended December 31,
2001 and 2000, the Company purchased approximately $204 billion and $206
billion of Cardmember receivables, respectively.
The Company also expects to report the following selected balance sheet data
(in millions) at December 31, 2001: total assets, $26,542; total debt,
$22,414; and shareholder's equity, $2,200.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMERICAN EXPRESS CREDIT CORPORATION
(REGISTRANT)
By /s/ Walker C. Tompkins
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Name: Walker C. Tompkins
Title: President
DATE: March 19, 2002