AMERICAN EXPRESS CERTIFICATE COMPANY
Investments of Securities of Unaffiliated Issuers
($ in thousands)
Bal Held at
12/31/01
Principal Amt
of Bonds & Notes Cost Value at
or (Notes 12/31/01
Issuer Name and Issue Title # of Shares a & c) (Note a)
BONDS AND NOTES
United States Government-
Direct Obligations
U S TREASURY 5.625% 2006 200 199 211 (f)
US TREASURY NOTE 5.875% 2004 165 162 174 (f)
------------ ----------------- ---------------
Total U.S. Government - Direct Obligations 365 361 385
------------ ----------------- ---------------
Other Bonds and Notes
United States Government Agencies
GNMA ARM #8157 6.375% 2023 2,215 2,249 2,266 (f)
GNMA ARM #8206 6.375% 2017 577 577 591 (f)
GNMA ARM #8240 6.750% 2017 350 346 358 (f)
GNMA ARM #8251 6.750% 2017 30 30 31 (f)
GNMA ARM #8274 7.625% 2017 996 995 1,037 (f)
GNMA ARM #8283 7.625% 2017 151 151 158 (f)
GNMA ARM #8293 7.625% 2017 265 265 276 (f)
GNMA ARM #8353 6.375% 2018 449 446 459 (f)
GNMA ARM #8341 6.375% 2018 80 80 82 (f)
GNMA ARM #8365 6.375% 2018 716 716 734 (f)
GNMA ARM #8377 6.750% 2018 315 314 322 (f)
GNMA ARM #8428 7.625% 2018 147 147 153 (f)
GNMA ARM #8440 7.625% 2018 413 413 430 (f)
GNMA ARM #8638 6.375% 2025 2,701 2,725 2,763 (f)
FNMA CMO 2000-32 AL 7.000% 2025 4,009 3,992 4,037 (f)
FNMA 96-10 C CMO SEQ 6.500% 2023 3,479 3,385 3,523 (f)
FNMA 97-2C CMO 7.000% 2020 1,372 1,372 1,371 (f)
FNMA SER 97-2E 7.000% 2024 10,000 9,932 10,273 (f)
FNMA 97-17 CMO 7.000% 2022 247 247 247 (f)
FNMA 97-74 G SEQ CMO 6.500% 2024 3,320 3,310 3,398 (f)
FNMA 98-8 A SEQ CMO 6.500% 2024 3,651 3,652 3,741 (f)
FNMA 2001-22 C CMO 6.000% 2011 20,314 20,248 20,311 (f)
FNMA 2001-12 LC CMO 6.000% 2029 22,612 22,340 22,720 (f)
FNMA 2001-14 DA CMO 6.000% 2028 22,541 22,278 22,298 (f)
FN 98 50 CLASS PA 6.000% 2012 1,960 1,960 1,963 (f)
FNMA 1999-8 QD CMO 6.000% 2014 10,000 9,919 10,000 (f)
FNMA 1999-51 LJ CMO 6.500% 2021 10,343 10,227 10,810 (f)
FNMA 15 6.0 #50973 6.000% 2009 15,797 15,552 16,103 (f)
FNMA 30 YR #51617 10.000% 2017 47 48 53 (f)
FNMA 30 YR #27880 9.000% 2016 24 25 26 (f)
FNMA 30 YR #36225 9.000% 2016 88 89 95 (f)
FNMA 30 YR #040877 9.000% 2017 32 33 34 (f)
FNMA 15 YR #66458 10.000% 2004 336 337 345 (f)
FNMA ARM #70117 6.518% 2017 222 222 225 (f)
FNMA ARM #70007 6.614% 2017 616 616 635 (f)
FNMA 15 YR 70694 MEG 9.500% 2005 363 365 383 (f)
FNMA #73227 MULT-FAM 6.700% 2005 1,518 1,526 1,574 (f)
Bal Held at
12/31/01
Principal Amt
of Bonds & Notes Cost Value at
or (Notes 12/31/01
Issuer Name and Issue Title # of Shares a & c) (Note a)
FNMA ARM#105989 3X3 7.186% 2020 741 741 748 (f)
FNMA ARM#88879 3X3 7.109% 2019 775 775 786 (f)
FNMA ARM#89125 SEMI 6.626% 2019 2,279 2,325 2,328 (f)
FNMA ARM#190726 SEMI 6.441% 2033 3,481 3,553 3,499 (f)
FNMA 7/1 HYBRID ARM 5.450% 2032 30,000 29,493 29,822 (f)
FNMA 7/1 HYBRID ARM 5.506% 2032 15,183 15,033 15,022 (f)
FNMA 7/1 HYBRID ARM 5.770% 2032 20,000 19,906 19,906 (f)
FNMA 7/1 HYBRID ARM 5.700% 2032 25,000 24,805 24,914 (f)
FNMA ARM #249907 8.250% 2024 2,877 2,921 2,975 (f)
FNMA 7.0 15YR 250670 7.000% 2011 2,244 2,260 2,334 (f)
FNMA 15YR #250671 7.500% 2011 6,562 6,579 6,895 (f)
FNMA 15 YR #A250857 7.000% 2012 6,798 6,785 7,067 (f)
FNMA 15YR #252259 5.500% 2014 22,653 22,297 22,475 (f)
FNMA 15YR 5.5 252344 5.500% 2014 20,253 19,817 20,213 (f)
FNMA 15YR #252381 5.500% 2014 19,081 18,645 18,904 (f)
FNMA 20YR #253801 6.000% 2021 43,096 42,172 42,867 (f)
FNMA 15YR #253844 5.500% 2016 9,611 9,626 9,458 (f)
FNMA 15YR #253878 5.500% 2016 24,253 24,320 23,866 (f)
FNMA 20YR #253944 6.000% 2021 10,265 10,070 10,152 (f)
FN 7YR BALL #254010 5.500% 2008 14,734 14,710 14,731 (f)
FNMA 10YR #303115 6.500% 2004 2,649 2,600 2,724 (f)
FNMA ARM #303259 6.537% 2025 2,156 2,215 2,190 (f)
FNMA 15YR #303445 5.500% 2009 9,207 8,942 9,260 (f)
FNMA 30YR #303970 6.000% 2024 17,720 17,483 17,583 (f)
FNMA 15YR #313042 7.000% 2011 5,174 5,193 5,379 (f)
FNMA 15YR #313522 7.000% 2012 13,274 13,345 13,816 (f)
FNMA 15 YR #313561 8.000% 2012 6,226 6,344 6,541 (f)
FNMA 15YR 6% #323290 6.000% 2013 18,750 18,629 18,923 (f)
FNMA 15YR #323322 6.000% 2013 36,178 35,951 36,511 (f)
FNMA 15YR #323748 6.500% 2014 17,025 16,667 17,395 (f)
FNMA 15YR #323833 6.000% 2014 8,450 8,369 8,515 (f)
FNMA 15YR #367005 7.000% 2012 4,412 4,390 4,583 (f)
FNMA 15YR #484933 6.000% 2014 14,430 14,397 14,541 (f)
FNMA 15YR #509806 6.500% 2014 7,659 7,595 7,817 (f)
FNMA 15YR #511817 5.500% 2016 23,261 23,365 22,890 (f)
FNMA 15YR #511821 5.500% 2016 46,578 46,785 45,836 (f)
FNMA 15YR #511824 5.500% 2016 21,576 21,616 21,232 (f)
FNMA 15YR #511828 5.500% 2016 14,702 14,699 14,467 (f)
FNMA 15YR #535454 6.000% 2015 26,657 26,649 26,902 (f)
FNMA 7/1 HYBRID ARM 6.002% 2031 33,886 33,777 34,341 (f)
FNMA 15YR #545249 5.500% 2016 43,848 44,027 43,149 (f)
FNMA 15YR #545300 5.500% 2016 98,416 98,906 96,847 (f)
FNMA 15YR #545303 5.000% 2016 19,744 19,443 19,034 (f)
FN HYBRID ARM 564907 5.950% 2031 18,296 18,238 18,645 (f)
FNMA 30YR 566074 ARM 5.932% 2031 11,820 11,816 12,042 (f)
FNMA 15YR #583747 5.500% 2016 17,327 17,359 17,051 (f)
FN 7/1 HYBRID 584059 5.930% 2031 30,588 30,429 30,832 (f)
FN ARM #584507 HYBD 5.962% 2031 9,192 9,154 9,268 (f)
FNMA 15YR #584829 6.000% 2016 20,006 19,863 20,068 (f)
FNMA 15YR #585743 5.500% 2016 38,501 38,699 37,887 (f)
FNMA 15YR #585830 6.000% 2016 37,042 36,469 37,158 (f)
FNMA 30Y #597087 ARM 5.950% 2031 26,054 25,945 26,246 (f)
FNMA 15YR #605933 5.500% 2016 18,204 18,282 17,914 (f)
FNMA 15YR #609060 5.500% 2016 9,256 9,267 9,108 (f)
FNMA 15YR #616220 5.000% 2016 25,000 24,510 24,102 (f)
Bal Held at
12/31/01
Principal Amt
of Bonds & Notes Cost Value at
or (Notes 12/31/01
Issuer Name and Issue Title # of Shares a & c) (Note a)
FNMA 15YR #617270 5.000% 2017 25,000 24,682 24,102 (f)
FNMA 15YR #622462 5.500% 2016 25,000 24,688 24,602 (f)
FHLMC 7YR BAL M80699 5.500% 2008 26,491 26,484 26,461 (f)
FG 7 YR BALL #M80703 5.500% 2008 34,407 34,428 34,368 (f)
FHLMC 15YR G10364 7.000% 2010 5,951 5,926 6,204 (f)
FHLM 15 6.5 #G10369 6.500% 2010 15,129 14,991 15,607 (f)
FH15YR #G10439 GOLD 6.500% 2011 1,828 1,792 1,880 (f)
FHLMC 15YR G10665 GD 7.000% 2012 27,451 27,393 28,577 (f)
FHLMC 15YR #G10949 6.500% 2014 10,828 10,698 11,109 (f)
FHLMC 15YR #G11004 7.000% 2015 5,193 5,166 5,378 (f)
FHLMC 15YR #G11090 6.000% 2015 17,085 17,022 17,329 (f)
FHLMC 15YR G11143 6.000% 2014 17,713 17,559 17,899 (f)
FHLMC 15YR #G11177 5.500% 2011 26,667 26,707 26,702 (f)
FHLMC 15YR #G11193 5.000% 2016 18,021 17,751 17,385 (f)
FHLMC ARM #845154 6.831% 2022 1,049 1,080 1,093 (f)
FHLMC ARM #845523 6.575% 2023 994 1,024 1,028 (f)
FHLMC ARM #845654 7.296% 2024 3,143 3,185 3,201 (f)
FHLMC ARM #845730 6.708% 2024 4,054 4,189 4,190 (f)
FHLMC ARM #845733 7.171% 2024 4,146 4,217 4,209 (f)
FHLMC ARM #846072 7.139% 2022 1,621 1,660 1,640 (f)
FHLMC ARM#846107LIB 7.808% 2025 1,314 1,344 1,357 (f)
FHLMC 15YR #E76761 6.500% 2014 11,679 11,492 11,997 (f)
FHLMC 15YR #E77557 6.500% 2014 1,588 1,554 1,620 (f)
FHLMC 15YR #E80594 6.500% 2014 5,798 5,676 5,964 (f)
FHLMC 15YR #E83132 6.000% 2016 30,237 30,096 30,373 (f)
FHLMC 15YR #E83365 6.000% 2016 7,253 7,220 7,286 (f)
FHLMC 15YR #E83348 6.000% 2016 27,694 27,667 27,818 (f)
FHLMC 15YR #E83349 6.000% 2016 23,670 23,614 23,776 (f)
FHLMC 15YR #E83358 6.000% 2016 23,968 23,917 24,075 (f)
FHLMC 15YR #E83659 6.000% 2016 50,931 50,705 51,160 (f)
FHLMC ARM #350190 6.750% 2022 1,042 1,073 1,056 (f)
FHLMC GOLD E00151 7.500% 2017 1,781 1,830 1,880 (f)
FHLMC 15YR #E00383 7.000% 2010 5,749 5,741 5,986 (f)
FHLMC15YR E00388GOLD 7.000% 2010 3,696 3,650 3,858 (f)
FH GD 15YR #E00426 6.500% 2011 3,657 3,629 3,752 (f)
FHLMC GOLD E00484 6.500% 2012 3,521 3,454 3,608 (f)
FHLMC 15YR #E00975 6.000% 2016 46,604 46,528 46,814 (f)
FHLMC 7/1 HYBRID ARM 5.877% 2031 27,746 27,668 27,668 (f)
FHLMC ARM #788912 5.805% 2031 20,000 19,831 19,831 (f)
FHLMC 20YR #C90441 6.000% 2021 71,762 70,437 71,058 (f)
FHLMC 20YR #C90448 6.000% 2021 22,732 22,153 22,509 (f)
FHLMC 20YR #C90428 6.000% 2021 8,416 8,343 8,334 (f)
FHLMC 20YR #C90437 6.000% 2019 26,298 25,923 26,040 (f)
FHLMC ARM #1B0183 5.615% 2031 14,913 14,721 14,731 (f)
FHLMC 2382 DA CMO 5.500% 2030 47,765 47,123 46,471 (f)
FHLMC 2393 A CMO 5.500% 2012 50,000 49,727 49,813 (f)
FHLMC T-009 A2 HEL 6.430% 2013 36 36 36 (f)
FHLMC 2019 CLASS C 6.500% 2019 11,653 11,487 11,915 (f)
FHLMC 2184 CL TA CMO 6.500% 2026 5,389 5,324 5,549 (f)
FHLMC CMO 213 AB 7.000% 2005 9,614 9,598 9,764 (f)
FHLMC 2274-HC CMO 6.000% 2028 17,339 17,179 17,563 (f)
FHLMC 2311 A CMO 6.000% 2027 45,039 44,782 45,787 (f)
Bal Held at
12/31/01
Principal Amt
of Bonds & Notes Cost Value at
or (Notes 12/31/01
Issuer Name and Issue Title # of Shares a & c) (Note a)
FHLMC 2318 GA CMO 6.000% 2029 22,426 22,258 22,639 (f)
FHLMC 2313 A CMO 6.000% 2030 24,198 23,927 23,889 (f)
FHLMC 15YR #380025 9.500% 2003 76 76 77 (f)
FHLMC 15 YR #200064 8.000% 2002 2 2 2 (f)
FHLMC 15 YR #219679 9.500% 2003 6 6 6 (f)
FHLMC 15 YR #219757 11.000% 2003 3 3 3 (f)
FHLMC 15 YR #502175 10.500% 2004 1 1 1 (f)
FHLMC ARM #605041 6.555% 2019 144 144 146 (f)
FHLMC ARM #605048 6.726% 2018 555 555 562 (f)
FHLMC ARM #605050 6.377% 2018 180 180 183 (f)
FHLMC ARM #630048 7.375% 2018 11 11 11 (f)
FHLMC ARM #630074 6.625% 2018 252 252 253 (f)
FHLMC ARM 840031 6.683% 2019 117 117 119 (f)
FHLMC ARM #840035 6.674% 2019 254 254 255 (f)
FHLMC ARM #840036 6.331% 2019 445 445 453 (f)
FHLMC ARM #840072 6.779% 2019 820 820 834 (f)
FHLMC ARM #405360 7.304% 2019 393 393 401 (f)
FHLMC ARM #405014 6.815% 2019 224 224 227 (f)
FHLMC ARM #405092 7.159% 2019 518 518 527 (f)
FHLMC ARM #405185 7.835% 2018 590 590 604 (f)
FHLMC ARM #405243 6.984% 2019 365 365 371 (f)
FHLMC ARM #405437 6.275% 2019 168 168 171 (f)
FHLMC ARM #405455 7.086% 2019 494 494 502 (f)
FHLMC ARM #405615 6.037% 2019 440 440 447 (f)
FHLMC ARM #405675 6.375% 2020 116 116 118 (f)
FHLMC ARM #605432 6.218% 2017 256 256 260 (f)
FHLMC ARM #605433 6.997% 2017 851 851 865 (f)
FHLMC ARM #605454 6.021% 2017 1,631 1,631 1,654 (f)
FHLMC ARM #606024 6.190% 2019 709 709 719 (f)
FHLMC ARM #606025 5.922% 2019 1,982 1,982 2,008 (f)
FHLMC ARM #635054 7.575% 2020 46 46 47 (f)
FHLMC ARM#785363 3X1 8.236% 2025 1,044 1,058 1,079 (f)
FHLMC ARM#785619 3X1 6.750% 2026 733 736 735 (f)
FHLMC ARM#785634 3X1 6.637% 2026 875 876 880 (f)
FHLMC ARM#865008 3X3 7.924% 2018 2,190 2,190 2,239 (f)
FHLMC LOANS #885005 9.500% 2002 45 45 47 (f)
FHLMC LOANS #885008 10.000% 2003 177 177 187 (f)
FHLMC 15 YR #885009 9.500% 2003 143 143 148 (f)
FHLMC ARM #606903 7.875% 2022 112 112 111 (f)
FHLMC 7/1 HYBRID ARM 5.647% 2032 9,496 9,355 9,355 (f)
------------ ----------------- ---------------
Total United States Government Agencies 2,149,189 2,136,070 2,149,132
------------ ----------------- ---------------
Municipal Bonds
California
CAL HSG FIN 1996-M 7.890% 2016 3,315 3,315 3,403 (b) (f)
Colorado
CO HLTH-POUDRE TAXAB 6.950% 2003 7,500 7,498 7,970 (b) (f)
New York
WY VALLEY PA SWR 5.125% 2007 80 80 83 (b) (f)
------------ ----------------- ---------------
Total Municipal Bonds 10,895 10,893 11,456
------------ ----------------- ---------------
Bal Held at
12/31/01
Principal Amt
of Bonds & Notes Cost Value at
or (Notes 12/31/01
Issuer Name and Issue Title # of Shares a & c) (Note a)
Public Utility
ALABAMA POWER 7.850% 2003 7,000 6,991 7,386 (f)
AMER ELEC PWR AEP 6.125% 2006 7,500 7,480 7,413 (f)
ASHLAND OIL MTN 7.830% 2005 10,000 10,000 10,637 (f)
AVON ENERGY 6.730% 2002 4,750 4,750 4,869 (d) (f)
BAROID CORP 8.000% 2003 5,000 4,997 4,853 (f)
BARRETT RESOURCES 7.550% 2007 3,000 3,002 3,079 (f)
BELLSOUTH CORP 5.000% 2006 15,000 14,967 14,884 (f)
BRITISH TELECOM PLC 7.875% 2005 12,500 13,546 13,390 (f)
CMS ENERGY CORP 7.500% 2009 1,500 1,507 1,426 (f)
SPPC 99-1A ABS 6.400% 2011 5,800 5,798 5,981 (f)
CALPINE CORP 7.750% 2009 3,500 3,498 3,098 (f)
CENTURYTEL INC P/C 7.750% 2012 5,900 5,897 6,093 (f)
CINERGY CORP 6.125% 2004 4,000 3,997 4,029 (f)
CITIZENS COMM 144A 6.375% 2004 10,000 9,980 10,135 (d) (f)
CONOCO INC GLOBAL 5.900% 2004 7,500 7,495 7,751 (f)
CROSS TIMBERS OIL CO 8.750% 2009 1,500 1,500 1,564 (f)
CYTEC INDUSTRIES INC 6.500% 2003 10,500 10,497 10,631 (f)
DTE ENERGY CO 6.000% 2004 10,000 9,982 10,256 (f)
DOMINION RESOURCES 7.600% 2003 11,000 10,999 11,584 (f)
DYNEGY CORP 6.875% 2002 3,000 2,999 2,940 (f)
ENERGY EAST CORP 5.750% 2006 7,500 7,458 7,238 (f)
FIRSTENERGY CORP 5.500% 2006 10,000 9,989 9,836 (f)
FRANCE TELECOM 144A 7.200% 2006 8,850 9,382 9,398 (d) (f)
GEORGIA POWER 5.750% 2003 5,000 4,995 5,133 (f)
KN ENERGY INC 6.450% 2003 8,000 7,996 8,218 (f)
KANSAS CITY P& L 7.125% 2005 10,000 10,404 10,378 (f)
LIMESTONE ELCTN 144A 8.625% 2003 11,000 11,047 11,187 (d) (f)
MCN INV`T CORP MTN 6.890% 2002 9,000 9,000 9,015 (f)
MIDAMERICAN ENERGY 7.375% 2002 5,000 4,997 5,097 (f)
MIRANT AMERICAS 7.625% 2006 3,300 3,300 3,009 (f)
MITCHELL ENERGY 6.750% 2004 6,500 6,595 6,776 (f)
NRG ENERGY P/C 144A 8.700% 2005 8,000 7,992 8,124 (d) (f)
NEWFIELD EXPLORATION 7.625% 2011 1,000 1,002 973 (f)
NIAGARA MHWK PWR 7.375% 2003 3,000 3,037 3,162 (f)
NISOURCE FINANCE 7.500% 2003 5,000 4,994 5,248 (f)
PP&L CAPITAL FDG MTN 7.750% 2005 3,000 2,998 3,157 (f)
PUBLIC SERV E&G CAP 6.800% 2002 10,000 10,004 10,308 (d) (f)
PRAXAIR INC 6.750% 2003 5,000 4,944 5,203 (f)
PROGRESS ENERGY 6.550% 2004 2,500 2,500 2,607 (f)
PROGRESS ENERGY 6.750% 2006 2,100 2,098 2,183 (f)
PROGRESS ENERGY 5.850% 2008 10,000 9,996 9,751 (f)
QWEST COMMUNICATION 7.250% 2008 3,000 3,000 2,994 (f)
REPUBLIC SERVICES 6.625% 2004 5,000 4,986 5,195 (f)
RIO ALTO EXPLORATION 7.690% 2005 9,000 9,000 9,310 (d) (f)
SBC COMMUNICATIONS 5.750% 2006 10,000 10,312 10,236 (f)
SANTA FE SNYDER 8.050% 2004 2,000 1,987 2,104 (f)
S WESTERN PUB SERV 5.125% 2006 7,000 6,982 6,866 (f)
SPRINT CORP 8.125% 2002 5,000 5,022 5,128 (f)
USX CORP 7.200% 2004 10,000 10,114 10,592 (f)
USA WASTE SERVICES 6.500% 2002 10,000 9,999 10,258 (f)
VINTAGE PETROLEUM 7.875% 2011 2,000 2,003 1,960 (f)
Bal Held at
12/31/01
Principal Amt
of Bonds & Notes Cost Value at
or (Notes 12/31/01
Issuer Name and Issue Title # of Shares a & c) (Note a)
VIRGINIA ELECTRIC 5.750% 2006 4,675 4,661 4,722 (f)
VODAFONE AIRTOUCH 7.625% 2005 10,000 10,184 10,753 (f)
WILLIAMS CO INC 6.500% 2002 12,000 11,998 12,245 (f)
WISCONSIN ENERGY 5.875% 2006 10,000 9,957 10,207 (f)
------------ ----------------- ---------------
Total Public Utility 372,375 374,815 380,570
------------ ----------------- ---------------
Finance
AMB REIT 7.200% 2005 5,000 4,994 5,205 (f)
AT&T CAPITAL CORP 6.900% 2002 15,000 15,000 15,050 (f)
AERCO LDT S-1A CL C1 3.246% 2023 13,069 12,955 12,960 (f)
O`N`E` LOAN TRUST 97 2.900% 2007 25,000 25,000 25,412 (d)
ALLIANCE CAPITAL 5.625% 2006 12,500 12,437 12,628 (f)
WASHINGTON MUTUAL 6.300% 2002 8,000 8,032 8,219 (f)
BAMS 1998-2 1A5 6.750% 2028 8,810 8,745 8,942 (f)
BALL 2001-FM A1 6.119% 2010 4,714 4,715 4,650 (d) (f)
BALL 2001-7WTC E CMO 2.750% 2031 8,213 8,213 8,213 (f)
BANK OF AMER 7.125% 2006 5,000 5,238 5,378 (f)
BANK ONE 6.500% 2006 10,000 10,123 10,455 (f)
BANK OF AMERICA GBL 6.625% 2004 5,000 4,995 5,272 (f)
BANPONCE FIN CORP 6.580% 2003 5,000 4,994 5,156 (f)
BISTRO TRST 1997-100 6.350% 2002 7,000 6,996 7,264 (d) (f)
CWHL 2000-7R A1 CMO 6.500% 2030 11,886 11,681 12,074 (f)
CAPITAL ONE BANK 6.375% 2003 5,500 5,496 5,586 (f)
CAPITAL ONE BANK 2.853% 2003 12,000 12,000 12,007 (f)
CAPSTAR HOTEL 8.750% 2007 3,000 2,997 2,513 (f)
CATERPILLER FINANCE 6.875% 2004 5,000 4,989 5,286 (f)
CXHE 2001-A A4 6.470% 2029 10,000 10,030 10,241 (f)
CCMSC 1997-2 CLSS A1 6.450% 2004 1,710 1,710 1,783 (f)
CHASE 1999-AS2A H1 6.500% 2029 7,042 7,059 7,251 (f)
CMSI 2001-6 A2 CMO 6.500% 2029 12,751 12,781 12,956 (f)
CONTI MTG HEL TRTA-6 6.690% 2016 6,424 6,424 6,589 (f)
CONTI 98-1 CLASS A5 6.430% 2016 7,350 7,350 7,447 (f)
COUNTRYWIDE 5.250% 2004 10,000 9,981 10,216 (f)
COUNTRYWIDE HOME 5.500% 2006 5,000 4,977 4,984 (f)
DLJ CMC 99-CG3 A1-A 7.120% 2008 8,769 8,802 9,299 (f)
DIME BANCORP 9.000% 2002 5,000 5,000 5,247 (f)
DUKE REALTY 7.300% 2003 7,500 7,497 7,862 (f)
ECH FUNDING 98-1 A-2 3.442% 2010 19,000 19,000 16,388 (d) (f)
EQUICREDIT 97-3 A6 6.610% 2021 3,812 3,815 3,919 (f)
ELAN PHARMACEUTICAL 8.430% 2002 10,000 10,000 10,223 (d) (f)
ELAN PHARMACEUTICAL 7.620% 2005 7,000 7,000 7,307 (d) (f)
FDIC 96-1C CLASS 1A 6.750% 2026 1,017 1,016 1,040 (f)
FMAC LLC 98-D CL A-1 6.111% 2019 2,055 2,059 2,092 (d) (f)
FBMS 93-2 CL B1 CMO 7.500% 2033 5,161 5,274 5,245 (f)
FBMS 93-M1 CL 1A CMO 6.750% 2006 6,519 6,454 6,696 (f)
FIRST UNION CORP 6.625% 2004 3,000 2,994 3,175 (f)
FULB 97-C1 A-1 MBS 7.150% 2004 3,920 3,945 4,059 (f)
FULB 97-C2 CLASS A1 6.479% 2004 2,358 2,363 2,405 (f)
FIRSTPLUS 98-A-A NIM 14.690% 2023 2,852 2,852 3,166 (d) (f)
GATX CAP CORP MTN 6.360% 2002 5,000 4,987 4,894 (f)
GECMS 99-15 A1 6.750% 2029 11,525 11,296 11,724 (f)
GMAC 96-C1 COMM MBS 6.790% 2003 198 198 198 (f)
GMAC 97-C2 A CMBS 6.451% 2004 3,645 3,651 3,751 (f)
GS-96PROTECT LIFE A1 7.020% 2027 2,782 2,817 2,868 (f)
Bal Held at
12/31/01
Principal Amt
of Bonds & Notes Cost Value at
or (Notes 12/31/01
Issuer Name and Issue Title # of Shares a & c) (Note a)
GOLDMAN SACHS 7.625% 2005 10,000 10,539 10,745 (f)
GREENTREE EQ 96-B 7.700% 2018 7,424 7,506 7,433 (f)
GREENPOINT BANK 6.700% 2002 9,250 9,256 9,418 (f)
HELLER FINANCIAL 6.440% 2002 5,000 4,996 5,152 (f)
HELLER FIN 7.875% 2003 5,000 4,996 5,342 (f)
HELLER FINANCIAL 7.500% 2002 5,000 4,999 5,148 (f)
HOMESIDE LENDING 6.875% 2002 10,000 10,000 10,148 (f)
HOUSEHOLD FINL CORP 6.500% 2006 2,000 1,996 2,056 (f)
HOUSEHOLD FIN MTN 7.100% 2002 10,000 9,999 10,171 (f)
MSC 2000-HG C 7.562% 2005 2,500 2,500 2,664 (d) (f)
JP MORGAN GLOBAL 5.625% 2006 10,000 10,272 10,154 (f)
JPMCC 2001-CIBIC1 A1 5.288% 2033 6,588 6,588 6,728 (f)
KELLOGG UK HDLG CO 4.490% 2006 14,000 14,000 12,520 (d) (f)
LBCMT 98-C1 A-1 CMBS 6.330% 2004 2,417 2,422 2,499 (f)
LBCMT 98-C4 A1A CMBS 5.870% 2006 4,089 4,100 4,212 (f)
LIFT 2001-1 A3 ABS 2.326% 2016 4,781 4,781 4,745 (f)
LEH BROS HLDG 6.250% 2006 10,000 9,983 10,244 (f)
LONG ISL SAV BK 7.000% 2002 5,000 4,998 5,092 (f)
MBNA AMERICA 7.750% 2005 6,000 5,982 6,216 (f)
MGIC INVT CORP 7.500% 2005 7,000 6,978 7,430 (f)
ML CBO14 98-E&P-1 FL 0.000% 2010 11,000 0 0 (d) (f)
MARSHALL & ILSLEY CO 5.750% 2006 10,000 9,994 10,097 (f)
MERCANTLE SAFE BK CD 7.400% 2002 7,500 7,500 7,543 (f)
ML CBO 98 AIG-2 B-1 .646% 2010 6,500 325 325 (f)
JPMS 96-C2 CL A 6.470% 2027 1,636 1,641 1,689 (f)
JPM 98-C6 A1 CMBS 6.373% 2030 1,958 1,961 2,028 (f)
JPMC 99-C7 A1 CMBS 6.180% 2035 8,610 8,641 8,899 (f)
JPMC 2000-C9 A1 7.590% 2032 4,390 4,406 4,711 (f)
MS CAP 1996-WFI MBS 7.233% 2006 7,946 7,989 8,424 (f)
MORGAN STANLEY DEAN 6.100% 2006 5,000 4,996 5,153 (f)
MS CAP 1 1997-XL A-1 6.590% 2030 10,050 10,071 10,550 (f)
MS CAP 98-WF1 CMBS 6.250% 2007 1,815 1,820 1,889 (f)
MCF 96-MC2 CLS A1 6.758% 2004 4,231 4,240 4,401 (f)
NPF12 2000-1 A ABS 2.545% 2003 10,000 10,000 9,981 (d) (f)
NSCOR 1998-7 A2 6.750% 2028 4,415 4,378 4,470 (f)
NSCOR 99-23 A1 7.000% 2029 4,079 4,033 4,137 (f)
NSCOR 1999-14 A8 CMO 6.500% 2029 12,780 12,806 13,083 (f)
ORIX CR ALL 144A MTN 6.640% 2002 16,000 16,000 16,001 (d) (f)
PARACELSUS ESCROW 0.000% 2006 5,000 - 0
BANK POPULAR N.A. 6.625% 2002 12,000 11,999 12,306 (f)
PHMS 1993-39 A8 SUPP 6.500% 2008 3,246 3,212 3,276 (f)
QUEBECOR WLD CAP 7.200% 2006 10,000 10,000 10,174 (d) (f)
RFMSI 1998-S23 CL A1 6.000% 2028 4,602 4,609 4,645 (f)
RFMSI 98-S13 CL A23 6.750% 2028 2,164 2,149 2,190 (f)
RFMS2 2000-HI4 AI3 7.490% 2013 10,000 10,000 10,385 (f)
RASC 99-KS1 AI4 ABS 6.390% 2027 5,000 4,992 5,136 (f)
SL CMBS 97-C1 CLS A 6.875% 2004 6,239 6,263 6,509 (d) (f)
SBM7 2000-C1 A1 7.460% 2008 9,068 9,032 9,708 (f)
SALOMON SB HLDS 5.875% 2006 5,000 4,988 5,125 (f)
SAXON 95-1 BA2 ARM 7.438% 2025 519 527 524 (f)
STRATG HOTEL99-C1 C 3.550% 2004 5,000 5,000 4,955 (f)
SIMON DEBARTOLO REIT 7.125% 2007 15,000 15,376 15,163 (f)
SOVEREIGN BANCORP 10.250% 2004 1,000 1,000 1,060 (f)
SOVEREIGN BANK 144A 10.200% 2005 4,329 4,329 4,697 (d) (f)
GMPT 99-C1 D CMBS 2.946% 2004 3,000 3,000 2,967 (d) (f)
Bal Held at
12/31/01
Principal Amt
of Bonds & Notes Cost Value at
or (Notes 12/31/01
Issuer Name and Issue Title # of Shares a & c) (Note a)
TRANS OCEAN CRP 144A 6.670% 2007 7,104 7,082 7,490 (d) (f)
TRIZEC 2001-TZH C3 6.522% 2013 5,000 5,000 4,995 (d) (f)
UCFC 97-B CL A-4 ABS 6.940% 2023 2,904 2,904 2,952 (f)
US BANCORP MTN J 7.500% 2003 10,000 10,000 10,605 (f)
WACHOVIA CORP 7.450% 2005 5,000 5,000 5,396 (f)
WACHOVIA CORPORATION 4.950% 2006 6,000 5,989 5,893 (f)
WASHINGTON MUTUAL 7.500% 2006 1,400 1,394 1,517 (f)
WAYLAND FUND 7.790% 2004 5,000 5,000 5,000 (d) (f)
ICI INVESTMENTS EMTN 6.750% 2002 10,000 10,012 10,231 (f)
------------ ----------------- ---------------
Total Finance 758,615 737,481 749,692
------------ ----------------- ---------------
Industrial
AOL TIME WARNER 6.125% 2006 8,000 7,985 8,171 (f)
ABITIBI CONSOLIDATED 8.300% 2005 3,250 3,250 3,389 (f)
ALLSTATE CORP 5.375% 2006 5,000 4,984 5,009 (f)
AM AIR ETC 6.400% 2008 2,032 2,032 1,960 (d) (f)
AM AIR ETC 6.400% 2008 1,634 1,634 1,576 (d) (f)
AM AIR ETC 6.400% 2008 1,956 1,956 1,887 (d) (f)
AM AIR ETC 6.400% 2008 395 395 381 (d) (f)
AM AIR ETC 6.400% 2008 394 394 380 (d) (f)
AM AIR ETC 91-C1 8.970% 2008 9,510 9,737 9,575 (f)
AMERICAN HOME PROD 5.875% 2004 5,000 4,995 5,190 (f)
AMERICAN HOME PROD 6.250% 2006 5,000 4,999 5,202 (f)
AMERICAN STANDARD 7.375% 2008 2,000 1,918 2,000 (f)
ANTENNA TV SA 9.000% 2007 1,800 1,777 1,566
AON CORP 6.900% 2004 3,000 2,998 3,144 (f)
BECKMAN INSTRUMENTS 7.100% 2003 3,000 3,000 3,079 (f)
A.H. BELO 6.875% 2002 17,885 17,937 18,071 (f)
BLACK & DECKER 7.500% 2003 10,000 10,097 10,411 (f)
BRITISH SKY BROAD 6.875% 2009 1,500 1,449 1,437 (f)
BURLINGTON NORTHERN 6.375% 2005 5,000 4,999 5,160 (f)
CSC HOLDINGS INC 7.875% 2007 3,500 3,359 3,624 (f)
CSX CORP 7.050% 2002 10,000 9,999 10,137 (f)
CSX CORP MTN 2.503% 2002 5,000 5,000 5,000 (f)
REYNOLDS METALS CAN 6.625% 2002 3,900 3,904 3,956 (f)
CANANDAIGUA WINE 8.625% 2006 1,000 990 1,030 (f)
CINGULAR WIRELESS 5.625% 2006 5,000 4,982 5,042 (d) (f)
CLARENT HOSPITAL 11.500% 2005 1,834 1,834 1,834 (d)
CLEAR CHANNEL COMM 2.420% 2002 5,000 5,000 5,006 (f)
CLEAR CHANNEL 7.250% 2003 5,000 4,999 5,171 (f)
COLTEC INDUSTRIES 7.500% 2008 2,000 1,998 1,966 (f)
COMCAST CABLE COMM 6.375% 2006 3,800 3,792 3,867 (f)
COMPAQ COMPUTER 7.450% 2002 5,000 4,999 5,121 (f)
CONAGRA 7.500% 2005 4,000 3,993 4,274 (f)
CONTL AIR EETC 96-1A 6.940% 2013 8,142 8,399 7,607 (f)
COTT BEVERAGES 144A 8.000% 2011 1,500 1,466 1,463 (d) (f)
COX ENTERPRISES 144A 6.625% 2002 25,000 24,990 25,429 (d) (f)
DR HORTON 8.000% 2009 2,000 1,991 1,960 (f)
DAIMLERCHRYSLER HLDG 7.125% 2003 10,000 9,995 10,340 (f)
TARGET CORP 6.400% 2003 10,000 9,994 10,380 (f)
DELHAIZE AMERICA INC 7.375% 2006 7,500 7,541 7,951 (f)
DELPHI AUTO SYSTEMS 6.550% 2006 5,000 4,994 4,966 (f)
DIAGEO CAPITAL PLC 6.625% 2004 6,000 5,997 6,364 (f)
ENTERPRISE RENT CAR 6.950% 2004 9,000 9,052 9,127 (d) (f)
Bal Held at
12/31/01
Principal Amt
of Bonds & Notes Cost Value at
or (Notes 12/31/01
Issuer Name and Issue Title # of Shares a & c) (Note a)
EARTHGRAINS CO 8.375% 2003 5,000 4,993 5,344 (f)
EARTHGRAINS CO 8.500% 2005 4,000 3,992 4,437 (f)
ENERGIZER HOLDINGS 7.860% 2005 7,000 7,000 7,356 (d) (f)
FORD MTR CRED-GLOBAL 6.700% 2004 5,000 4,995 5,082 (f)
FORD MOTOR CREDIT CO 6.875% 2006 5,000 5,088 5,007 (f)
GE CAP CORP GLOBAL 6.700% 2002 7,500 7,498 7,745 (f)
GMAC MTN 6.380% 2004 14,000 14,000 14,420 (f)
GIANT INDUSTRIES 9.000% 2007 3,000 3,000 2,790 (f)
HARRAHS ENTERTAIN 7.875% 2005 2,000 2,068 2,075 (f)
HERTZ CORP FLT 2.546% 2004 10,000 10,000 9,629 (f)
ISPMEX 144A LIQUID 10.125% 2003 1,096 1,097 658 (d)
INGERSOLL RAND 5.800% 2004 10,000 9,993 10,188 (f)
INTL FLAVOR FRAGRAN 6.450% 2006 10,000 9,983 10,113 (f)
INTL PAPER CO 8.000% 2003 10,000 9,987 10,583 (f)
INT`L SHIPHOLDING 7.750% 2007 2,000 1,993 1,800 (f)
JONES APPAREL 7.500% 2004 3,000 2,996 3,119 (f)
JONES APPAREL 7.875% 2006 2,000 1,995 2,064 (f)
KAUFMAN & BROAD HOME 7.750% 2004 3,000 2,989 3,045 (f)
KELLOGG CO 5.500% 2003 5,000 4,998 5,131 (f)
KRAFT FOODS 4.625% 2006 15,000 14,978 14,660 (f)
KROGER CO 8.150% 2006 4,000 4,003 4,416 (f)
LAMAR MEDIA CORP 8.625% 2007 2,000 2,002 2,070 (f)
LEAR CORP B 7.960% 2005 1,500 1,504 1,516 (f)
LGETT&PLATT MTN SERD 7.185% 2002 10,000 9,992 10,134 (d) (f)
LOUISIANA PACIFIC 8.500% 2005 1,000 990 978 (f)
MEDIA GENERAL INC 6.950% 2006 5,000 4,997 5,036 (f)
MEDIAONE GROUP INC 6.850% 2002 15,500 15,500 15,517 (f)
FRED MEYERS INC 7.150% 2003 5,000 4,997 5,182 (f)
NCI BUILDING SYSTEMS 9.250% 2009 2,000 2,022 1,940 (f)
NORFOLK SOUTHERN 6.950% 2002 15,000 15,018 15,196 (f)
NORSKE SKOG 144A 8.625% 2011 1,500 1,512 1,556 (d) (f)
NWA EETC 01-1A-2 6.841% 2011 10,000 10,000 8,930 (f)
OFFSHORE LOGISTICS 7.875% 2008 2,000 2,003 1,900 (f)
PHILIP MORRIS 7.500% 2004 5,000 5,144 5,318 (f)
PINNACLE ONE PARTNRS 8.830% 2004 6,000 6,000 6,130 (d) (f)
PRINTPACK INC 9.875% 2004 2,500 2,500 2,575 (f)
PULTE CORP 9.500% 2003 13,000 13,000 13,672 (f)
QUAKER OATS 6.940% 2003 1,500 1,501 1,572 (f)
QWEST CAP FUND 7.750% 2006 3,000 3,194 3,065 (f)
S C INTERNATIONAL 9.250% 2007 2,000 2,006 1,280 (f)
SAFECO CORPORATION 7.875% 2003 7,000 6,991 7,233 (f)
SCHULER HOMES 144A 9.375% 2009 1,000 1,000 1,035 (d) (f)
SCOTTS COMPANY 8.625% 2009 2,000 1,940 2,050 (f)
STATION CASINO 8.375% 2008 1,500 1,514 1,530 (f)
SUN MICROSYSTEMS INC 7.000% 2002 4,000 4,000 4,084 (f)
TTX CO 144A 7.350% 2004 4,000 4,000 4,284 (d) (f)
TEEKAY SHIPPING CORP 8.320% 2008 1,500 1,509 1,545 (f)
TELEFONICA EUROPE 7.350% 2005 8,000 7,998 8,425 (f)
TEXTRON INC 6.375% 2004 3,000 2,992 3,073 (f)
TYCO INT`L P/C 6.250% 2003 10,000 9,985 10,256 (f)
UNILEVER NV 6.750% 2003 9,500 9,479 10,085 (f)
UNION PACIFIC CORP 3.150% 2002 12,000 12,000 12,008 (f)
UNION PACIFIC 5.840% 2004 5,000 5,000 5,135 (f)
UNION TANK CAR 6.500% 2008 3,856 3,852 4,011 (f)
UAL ETC 91-A1 9.200% 2008 3,611 3,518 3,195 (f)
Bal Held at
12/31/01
Principal Amt
of Bonds & Notes Cost Value at
or (Notes 12/31/01
Issuer Name and Issue Title # of Shares a & c) (Note a)
UAL EETC 00-2A-1 7.032% 2010 4,500 4,500 4,279 (f)
UNITED STATIONERS 8.375% 2008 1,000 1,000 1,010 (f)
UNITED HEALTH GROUP 7.500% 2005 6,000 5,983 6,433 (f)
VIACOM INC 6.750% 2003 5,000 4,999 5,200 (f)
WALMART STORES 5.450% 2006 10,000 10,297 10,256 (f)
WESTINGHOUSE AIR 9.375% 2005 2,250 2,274 2,273 (f)
AM AIR ETC 6.400% 2008 1,053 1,053 1,016 (d) (f)
AM AIR ETC 6.400% 2008 1,053 1,053 1,016 (d) (f)
AM AIR ETC 6.400% 2008 1,053 1,053 1,016 (d) (f)
AM AIR ETC 6.400% 2008 408 408 394 (d) (f)
AM AIR ETC 6.400% 2008 410 410 395 (d) (f)
AM AIR ETC 6.400% 2008 663 663 640 (d) (f)
AM AIR ETC 6.400% 2008 663 663 640 (d) (f)
AM AIR ETC 6.400% 2008 664 664 640 (d) (f)
WORLD COLOR PRESS 8.375% 2008 3,000 3,000 3,015 (f)
------------ ----------------- ---------------
Total Industrial 570,312 571,130 578,604
------------ ----------------- ---------------
Total Other Bonds and Notes 3,861,387 3,830,389 3,869,454
------------ ----------------- ---------------
TOTAL BONDS AND NOTES 3,861,752 3,830,750 3,869,839
------------ ----------------- ---------------
PREFERRED STOCK
Public Utility
APPALACHIAN PWR $100 5.900% 2008 10 998 1,009 (f)
APPALACHIAN PWR $100 5.920% 2008 11 1,093 1,118 (f)
ATLANTIC CITY EL 100 7.800% 2006 47 4,675 4,758 (f)
BELL ATLANTIC NZ144A 7.080% 2004 25 2,543 2,718 (d) (f)
BELL ATL NZ$100 144A 5.800% 2004 100 10,000 10,584 (d) (f)
CENTRAL ILL LT $100 5.850% 2008 65 6,502 6,435 (f)
CON EDISON $100 SR J 6.125% 2002 150 15,005 15,525 (f)
DUKE ENERGY $100 V 6.400% 2002 30 3,000 3,114 (f)
INDIANA MICH POWER 6.300% 2009 52 5,223 5,287 (f)
IND MICH POWER $100 6.250% 2009 20 2,002 2,018 (f)
INDIANA MICHIGAN PWR 5.900% 2009 33 3,155 3,209 (f)
LOUISVILLE G&E PFD 5.875% 2008 12 1,198 1,264 (f)
MIDAMERICAN ENERGY 7.800% 2006 49 5,007 5,108 (f)
NIAGARA MOHAWK $50 6.905% 2004 100 5,000 5,188 (f)
NO IND PUB SERV $100 6.500% 2002 114 11,561 11,557 (f)
NORTHWEST NAT GA 100 6.950% 2002 170 17,024 17,361 (f)
OHIO POWER CO $100 5.900% 2009 36 3,551 3,594 (f)
OHI PWR CO $100 6.020% 2008 10 993 1,005 (f)
OHIO PWR CO $100 6.350% 2008 5 502 525 (f)
PECO ENERGY 6.120% 2003 32 3,208 3,244 (f)
POTOMAC ELEC PWR $50 6.800% 2007 161 7,979 8,125 (f)
ROCHESTER G&E $100 6.600% 2009 100 10,037 10,800 (f)
SAN DIEGO G&E $25 1.762% 2008 60 1,555 1,478 (f)
TXU ELECTRIC CO 6.375% 2008 54 5,411 5,532 (f)
TXU ELECTRIC CO 6.980% 2008 50 5,000 5,117 (f)
UBS PRIVATE SER H 5.040% 2002 15 15,000 15,000 (d) (f)
------------ ----------------- ---------------
Total Public Utility 1,511 147,222 150,673
------------ ----------------- ---------------
Bal Held at
12/31/01
Principal Amt
of Bonds & Notes Cost Value at
or (Notes 12/31/01
Issuer Name and Issue Title # of Shares a & c) (Note a)
Finance
CITIGROUP FRAP 5.86% 5.86% 150 7,782 7,751 (f)
CITIBANK NA 5.84% 100 10,000 10,188 (f)
JP MORGAN CHASE FRAP 4.96% 150 7,500 7,289 (f)
------------ ----------------- ---------------
Total Finance 400 25,282 25,228
------------ ----------------- ---------------
Industrial
BHP OPERATIONS 144 6.76% 2006 50 5,000 5,245 (d) (f)
WHIRLPOOL FIN $100 B 6.550% 2008 180 18,041 18,816 (d) (f)
WHIRLPOOL FINL PFD 6.090% 2002 37 3,700 3,756 (d) (f)
------------ ----------------- ---------------
Total Industrial 267 26,741 27,816
------------ ----------------- ---------------
TOTAL PREFERRED STOCK 2,177 199,245 203,717
------------ ----------------- ---------------
COMMON STOCK
Industrial
CLARENT HOSPITAL 86 172 344 (d)
TOTAL COMMON STOCK 86 172 344
------------ ----------------- ---------------
TOTAL Investments in Securities of Unaffiliated Issuers 4,030,167 4,073,901
TOTAL Reserve for Possible Losses on Corporate Issues 0 0
----------------- ----------------
4,030,167 4,073,901
================= ================
NOTES:
a) See Notes 1 and 3 to the financial statements regarding determination of
cost and fair values
b) In the absence of market quotations, securities are valued by American
Express Certificate Company at fair value
c) Aggregate cost of investment in securities of unaffiliated issuers for
federal income tax purposes was $3,053,100
d) Securities acquired in private negotiation which may require registration
under federal securities law if they were to be publicly sold. Also see
Note 3b to financial statements
e) Non-income producing securities
f) Securities classified as available for sale and carried at fair value on the
balance sheet. Also see Notes 1 and 3 to financial statements
AMERICAN EXPRESS CERTIFICATE COMPANY
Investments in and Advances to Affiliates and Income Thereon
December 31, 2001, 2000 and 1999
($ in thousands)
Balance December 31, 2001
Interest
Dividends
Principal Carrying Credited
Amount or Cost Value to Income
Name of Issuer and Title of Issue No. of Shares (a) (b) (c)
Wholly Owned Subsidiary (b):
Real Estate Investment Company:
Investors Syndicate Development Corporation:
Capital Stock.............................. 100 $422 $422 $0
=======================
Other Controlled Companies: $0 0 0 0
=======================
Other Affiliates (as defined in Sec. 2(a)(3) of the
Investment Company Act of 1940).................. $0 0 0 0
======================= ------------- --------------- --------------------
Total affiliates............................. $422 $422 $0
============= =============== ====================
Balance December 31, 2000
Interest
Dividends
Principal Carrying Credited
Amount or Cost Value to Income
Name of Issuer and Title of Issue No. of Shares (a) (b) (c)
Wholly Owned Subsidiary (b):
Real Estate Investment Company:
Investors Syndicate Development Corporation:
Capital Stock.............................. 100 $422 $422 $0
=======================
Other Controlled Companies: $0 0 0 0
=======================
Other Affiliates (as defined in Sec. 2(a)(3) of the
Investment Company Act of 1940).................. $0 0 0 0
======================= ------------- --------------- --------------------
Total affiliates............................. $422 $422 $0
============= =============== ====================
Balance December 31, 1999
Interest
Dividends
Principal Carrying Credited
Amount or Cost Value to Income
Name of Issuer and Title of Issue No. of Shares (a) (b) (c)
Wholly Owned Subsidiary (b):
Real Estate Investment Company:
Investors Syndicate Development Corporation:
Capital Stock.............................. 100 $418 $422 $0
=======================
Other Controlled Companies: $0 0 0 0
=======================
Other Affiliates (as defined in Sec. 2(a)(3) of the
Investment Company Act of 1940).................. $0 0 0 0
======================= ------------- --------------- --------------------
Total affiliates............................. $418 $422 $0
============= =============== ====================
AMERICAN EXPRESS CERTIFICATE COMPANY
Investments in and Advances to Affiliates and Income Thereon
December 31, 2001, 2000 and 1999
($ in thousands)
NOTES:
(a) The aggregate cost for federal income tax purposes was $422 at December 31,
2001, 2000, and 1999, subject to possible adjustment in certain
circumstances under consolidated income tax return regulations.
(b) Investments in stocks of wholly owned subsidiaries are carried at cost
adjusted for equity in undistributed net income since organization or
acquisition of the subsidiaries.
(c) There were no dividends or interest earned which were not credited to
income.
AMERICAN EXPRESS CERTIFICATE COMPANY
Mortgage Loans on Real Estate and Interest
Earned on Mortgages
Year Ended December 31, 2001
($ in thousands)
Part 1 - Mortgage loans on real estate Part 2 - Interest earned
at end of period on mortgages
-------- ---------------------------------------- ------------------------
Amount of principal
unpaid at end of period
-----------------------
Average
Carrying Interest gross rate
amount Subject Amount due and of interest
of (c), to of accrued on mortgages
Number Prior mortgages delinquent mortgages at end of held at end
of liens (g),(h) interest being period of period
Description (a) loans (b) and (i) Total (d) forclosed (e) (f)
- ----------------------------- ------ ----- --------- ----- ---------- --------- --------- ------------
First mortgages:
Insured by Federal
Housing Administration -
liens on:
Residential - under $100 0 $0 $0 $0 $0 0.000%
Apartment and business - under $100 0 0 0 0 0 0.000%
---- -------- ----- ------- -------- ---------
Total 0 0 0 0 0 0.000%
---- -------- ----- ------- -------- ---------
Partially guaranteed under Serviceman's
Readjustment Act of 1944, as amended -
liens on:
Residential - under $100 0 0 0 0 0 0.000%
Apartment and business - under $100 0 0 0 0 0 0.000%
---- -------- ----- ------- -------- ---------
Total 0 0 0 0 0 0.000%
---- -------- ----- ------- -------- ---------
Other - liens on:
Residential 0 0 0 0 0 0.000%
---- -------- ----- ------- -------- ---------
Apartment and business:
Under $100 1 70 70 0 0 9.500%
$100 to $150 0 0 0 0 0 0.000%
$150 to $200 0 0 0 0 0 0.000%
$200 to $250 0 0 0 0 0 0.000%
$250 to $300 1 279 279 0 0 8.500%
$300 to $350 0 0 0 0 0 0.000%
$350 to $400 0 0 0 0 0 0.000%
$400 to $450 0 0 0 0 0 0.000%
$450 to $500 0 0 0 0 0 0.000%
Over $500:
Loan No. Mortgagor Property Location
21-47110 Village North Brooklyn Park, MN 1 1,240 1,240 0 0 8.7200%
21-47139 Treasure's Island Inc. Eagan, MN 1 1,297 1,297 0 0 8.2500%
21-47140 Harbour Run LTD Mentor-On-The-
Lake, OH 1 3,508 3,508 0 0 6.9100%
21-47142 34th Street Properties
Partnership Gainsville, FL 1 9,301 9,301 0 0 7.0500%
21-47147 T & R Hilliard, OH 1 6,740 6,740 0 0 7.9900%
21-47157 John A. Belanich Tampa, FL 1 3,064 3,064 0 0 7.6500%
21-47164 Regency Hamilton, OH 1 5,340 5,340 0 0 8.1250%
AMERICAN EXPRESS CERTIFICATE COMPANY
Mortgage Loans on Real Estate and Interest
Earned on Mortgages
Year Ended December 31, 2001
($ in thousands)
Part 1 - Mortgage loans on real estate Part 2 - Interest earned
at end of period on mortgages
-------- ---------------------------------------- ------------------------
Amount of principal
unpaid at end of period
-----------------------
Average
Carrying Interest gross rate
amount Subject Amount due and of interest
of (c), to of accrued on mortgages
Number Prior mortgages delinquent mortgages at end of held at end
of liens (g),(h) interest being period of period
Description (a) loans (b) and (i) Total (d) forclosed (e) (f)
- ----------------------------- ------ ----- --------- ----- ---------- --------- --------- ------------
21-47165 Bowling Green
Partnership Sussex, WI 1 2,438 2,438 0 0 7.2000%
21-47167 Wilder Corp of Delaware Ruskin, FL 1 6,154 6,154 0 0 7.4400%
21-47168 Wilder Corp of Delaware Riverview, FL 1 3,299 3,299 0 0 7.4400%
21-47173 Cinram Associates Fairfield, NJ 1 3,726 3,726 0 0 7.2600%
21-47184 Mcnab Commerce Center
Association Pompano Beach, FL 1 1,930 1,930 0 0 8.2500%
21-47186 Mack Edison Company Edison, NJ 1 5,776 5,776 0 0 6.8500%
21-47187 Industrial Development
Association Mebane, NC 1 2,760 2,760 0 0 7.2200%
21-47190 Bradley Oper Davenport, IA 1 3,634 3,634 0 0 7.8750%
21-47191 SSC Associates St. Clair
Ltd Ptnshp Shores, MI 1 5,441 5,441 0 0 7.0000%
21-47195 Tipotex Inc. Pharr, TX 1 1,525 1,525 0 0 7.4000%
21-47196 Tropic Star Pharr, TX 1 3,308 3,308 0 0 7.4000%
21-47197 Winter Ranch Alamo, TX 1 782 782 0 0 7.4000%
21-47204 Fort Walton Mary Esther, FL 1 2,818 2,818 0 0 7.0400%
21-47205 Kavanagh Tucson, AZ 1 3,695 3,695 0 0 7.0500%
21-47206 Artrisco Albuquerque, NM 1 5,040 5,040 0 0 8.2500%
21-47208 Newport VI Albuquerque, NM 1 897 897 0 0 8.1250%
21-47209 Fountain Lake Brandeton, FL 1 5,332 5,332 0 0 8.3200%
21-47210 Orion West Haven, CT 1 3,979 3,979 0 0 7.8750%
21-47211 Plaza 7000 Greenwood
Village, CO 1 2,309 2,309 0 0 7.6250%
21-47212 Howard Lake-Maple
Plain Howard Lake, MN 1 1,242 1,242 0 0 7.7500%
21-47214 West Health Inc. Plymouth, MN 1 10,278 10,278 0 0 7.4500%
21-47215 Invespro Urbandale, IA 1 3,220 3,220 0 0 8.3750%
21-47216 Invespro Urbandale, IA 1 2,535 2,535 0 0 8.3750%
21-47217 Airport Tempe, AZ 1 6,508 6,508 0 0 8.3750%
21-47218 D&R Northpoin Sterling, VA 1 1,796 1,796 0 0 8.5000%
21-47219 Favorite Bay Albuquerque, NM 1 2,479 2,479 0 0 7.8500%
21-47223 Westwood Plaza Houston, TX 1 4,362 4,362 0 0 8.2300%
21-47224 Custer Office Plano, TX 1 1,805 1,805 0 0 7.3200%
21-47225 Valley Mining Eagan, MN 1 1,585 1,585 0 0 7.2100%
21-47226 Jake's LP Austin, TX 1 2,630 2,630 0 0 6.9500%
21-47227 PW Holdings Falls Township, PA 1 4,408 4,408 0 0 7.8800%
21-47228 Lafayette Square Bridgeport, CT 1 4,173 4,173 0 0 7.1400%
21-47230 Wilcrest Gree Houston, TX 1 2,007 2,007 0 0 7.0800%
21-47231 Midtown Mall Hastings, MN 1 1,986 1,986 0 0 7.1400%
21-47232 DHIR Group LLC Milwaukee, WI 1 4,350 4,350 0 0 7.4000%
21-47233 Capital Plaza Jefferson City, MO 1 2,019 2,019 0 0 7.1500%
21-47234 Southwest Medical Littleton, CO 1 3,122 3,122 0 0 7.1800%
AMERICAN EXPRESS CERTIFICATE COMPANY
Mortgage Loans on Real Estate and Interest
Earned on Mortgages
Year Ended December 31, 2001
($ in thousands)
Part 1 - Mortgage loans on real estate Part 2 - Interest earned
at end of period on mortgages
-------- ---------------------------------------- ------------------------
Amount of principal
unpaid at end of period
-----------------------
Average
Carrying Interest gross rate
amount Subject Amount due and of interest
of (c), to of accrued on mortgages
Number Prior mortgages delinquent mortgages at end of held at end
of liens (g),(h) interest being period of period
Description (a) loans (b) and (i) Total (d) forclosed (e) (f)
- ----------------------------- ------ ----- --------- ----- ---------- --------- --------- ------------
21-47235 2507 & 2473 Assc Southport, CT 1 2,608 2,608 0 0 7.0200%
21-47237 Abmar Valley Roanoke, VA 1 1,633 1,633 0 0 7.1000%
21-47238 Cicero Place Cicero, IN 1 3,288 3,288 0 0 7.0000%
21-47240 Crystal Plaza Baltimore, MD 1 3,797 3,797 0 0 7.0200%
21-47241 Pal, Inc Sioux Falls, SD 1 1,122 1,122 0 0 7.0500%
21-47242 Northpoint AT San Antonio, TX 1 4,838 4,838 0 0 7.3300%
21-47243 Pam-Joy Realty Chesapeake. VA 1 2,904 2,904 0 0 6.9600%
21-47245 Tide Mill Southport, CT 1 2,369 2,369 0 0 6.9800%
21-47246 JLC, IX PF LTD Dallas, TX 1 955 955 0 0 7.0100%
21-47247 Airport Land Tempe, AZ 1 4,564 4,564 0 0 6.8900%
21-47248 HMJ Moorehead, MN 1 5,616 5,616 0 0 6.9600%
21-47249 MIDEB Ventura, CA 1 4,962 4,962 0 0 6.7500%
21-47250 Thomas Ribis Alexandria, VA 1 2,647 2,647 0 0 6.9000%
21-47251 Arcadia Villa Phoenix, AZ 1 2,705 2,705 0 0 6.8000%
21-47252 Broken Arrow Broken Arrow, OK 1 3,228 3,228 0 0 6.8000%
21-47253 Palo Verde Plaxa Phoenix, AZ 1 1,614 1,614 0 0 6.8000%
21-47254 Village S. Tulsa, OK 1 3,370 3,370 0 0 6.8000%
21-47255 Gaughan Forest Lake/
Stillwater, MN 1 5,422 5,422 0 0 6.8300%
21-47256 Fremont Apts Rapid City, SD 1 1,080 1,080 0 0 6.7500%
21-47257 American Bank Plaza Corpus Christi, TX 1 6,887 6,887 0 0 6.9000%
21-47259 Anza Plaza Santa Clarita, CA 1 1,861 1,861 0 0 6.9500%
21-47260 Eisenhower 3 Ann Arbor, MI 1 2,855 2,855 0 0 6.9800%
21-47261 KKMP Properties Bloomington, MN 1 1,103 1,103 0 0 7.0600%
21-47262 312 Third Street Fargo, ND 1 5,587 5,587 0 0 6.9000%
21-47263 G.O.L.D Columbus, OH 1 2,114 2,114 0 0 6.9500%
21-47264 Esnet Properties Orem, UT 1 1,891 1,891 0 0 6.8100%
21-47265 Eaglecreek A Lakewood, CO 1 2,179 2,179 0 0 6.7700%
21-47266 Independence Clarkston, MI 1 4,117 4,117 0 0 6.8900%
21-47267 Blairhill LLC Charlotte, NC 1 1,380 1,380 0 0 6.9100%
21-47268 Lemans Limited Seebring, FL 1 5,422 5,422 0 0 6.8500%
21-47269 Hampton Inn Spokane, WA 1 4,220 4,220 0 0 7.1500%
21-47270 Brookhollow-2 Houston, TX 1 2,705 2,705 0 0 6.8000%
21-47271 Wilsonville Wilsonville, OR 1 1,743 1,743 0 0 6.8500%
21-47272 Southeast Com Aurora, CO 1 1,906 1,906 0 0 6.4400%
21-47273 Sears Bldg Rapid City, SD 1 877 877 0 0 6.8500%
21-47274 Edison Towson, MD 1 1,140 1,140 0 0 6.8500%
21-47275 Colorado & SA Colorado
Springs, CO 1 1,913 1,913 0 0 6.5500%
AMERICAN EXPRESS CERTIFICATE COMPANY
Mortgage Loans on Real Estate and Interest
Earned on Mortgages
Year Ended December 31, 2001
($ in thousands)
Part 1 - Mortgage loans on real estate Part 2 - Interest earned
at end of period on mortgages
-------- ---------------------------------------- ------------------------
Amount of principal
unpaid at end of period
-----------------------
Average
Carrying Interest gross rate
amount Subject Amount due and of interest
of (c), to of accrued on mortgages
Number Prior mortgages delinquent mortgages at end of held at end
of liens (g),(h) interest being period of period
Description (a) loans (b) and (i) Total (d) forclosed (e) (f)
- ----------------------------- ------ ----- --------- ----- ---------- --------- --------- ------------
21-47277 Alvernon Place Tucson, AZ 1 2,177 2,177 0 0 7.0000%
21-47278 VL Grand Rdge Kennewick, WA 1 6,453 6,453 0 0 6.7500%
21-47279 Daniel G Chetek, WI 1 2,000 2,000 0 0 7.2500%
21-47281 Cleveland Shaker Heights, OH 1 2,361 2,361 0 0 7.0000%
21-47282 Cary Bldg LP Springfield, VA 1 2,140 2,140 0 0 6.8500%
21-47283 Paragon DTC P Englewood, CO 1 7,090 7,090 0 0 6.8000%
21-47284 Tarran Batavia, IL 1 3,380 3,380 0 0 7.0000%
21-47285 Equity One In Fort Meyers, FL 1 4,397 4,397 0 0 6.7500%
21-47286 Sandhill SQ Las Vegas, NV 1 2,498 2,498 0 0 7.0000%
21-47287 ML LTD Moen Rogers, MN 1 5,869 5,869 0 0 7.3000%
21-47288 Hilde Plymouth, MN 1 1,905 1,905 0 0 6.8500%
21-47289 Camp Morrison Newport News, VA 1 2,654 2,654 0 0 6.9000%
21-47290 Oakcliff Doraville, GA 1 2,603 2,603 0 0 7.0000%
21-47291 Truway Liverpool, NY 1 3,031 3,031 0 0 7.0000%
21-47292 Desert Inn Las Vegas, NV 1 6,477 6,477 0 0 7.0950%
21-47293 Julantru Corvallis, OR 1 4,284 4,284 0 0 6.7500%
21-47294 Carolace Emb. Hope Mills, NC 1 1,594 1,594 0 0 7.0000%
21-47295 Mastercraft Concord, OH 1 1,245 1,245 0 0 7.0000%
21-47296 Viviani Painesville, OH 1 1,052 1,052 0 0 7.0000%
21-47297 Viviani Concord, OH 1 1,770 1,770 0 0 7.0000%
21-47298 Shiland Hills Rock Hill, SC 1 891 891 0 0 7.2500%
21-47299 Crest Escondido, CA 1 2,200 2,200 0 0 7.0000%
21-47303 KWI 1304 Santa Monica, CA 1 5,300 5,300 0 0 3.9300%
21-47304 Memorial Six Houston, TX 1 7,190 7,190 0 0 6.4000%
107 345,369 345,369 0 0 6.978%
---- -------- ------- --------- --------- -------
Total Other
Unallocated Reserve for Losses 107 345,369 345,369 0 0 6.978%
---- -------- ------- --------- --------- -------
1,935
--------
Total First Mortgage Loans on Real Estate 107 $343,434 $345,369 $ 0 $ 0 6.978%
==== ======== ======== ========= ========= =======
Part 3 - Location of mortgaged properties
($ in thousands)
Amount of principal
unpaid at end of period
------------------------------------
Carrying Subject
amount of to Amount of
State in Number Prior mortgages delinquent mortgages
which mortgaged of liens (c), (g), interest being
property is located loans (b) (h) and (i) Total (d) foreclosed
- ---------------------------------- ----------- -------- -------------- ---------------- -------------- --------------
Arizona 6 21,264 21,264 0 0
California 4 14,324 14,324 0 0
Colorado 6 18,519 18,519 0 0
Connecticut 4 13,129 13,129 0 0
Florida 9 41,718 41,718 0 0
Georgia 1 2,604 2,604 0 0
Illinois 1 3,380 3,380 0 0
Indiana 1 3,288 3,288 0 0
Iowa 3 9,390 9,390 0 0
Maryland 2 4,938 4,938 0 0
Michigan 3 12,413 12,413 0 0
Minnesota 11 37,544 37,544 0 0
Missouri 1 2,019 2,019 0 0
Nevada 2 8,976 8,976 0 0
New Jersey 2 9,502 9,502 0 0
New Mexico 3 8,416 8,416 0 0
New York 1 3,031 3,031 0 0
North Carolina 4 6,979 6,979 0 0
North Dakota 1 5,587 5,587 0 0
Ohio 7 22,884 22,884 0 0
Oklahoma 2 6,597 6,597 0 0
Oregon 2 6,027 6,027 0 0
Pennsylvania 1 4,408 4,408 0 0
South Carolina 1 891 891 0 0
South Dakota 4 3,357 3,357 0 0
Texas 13 39,060 39,060 0 0
Utah 1 1,891 1,891 0 0
Virginia 6 13,772 13,772 0 0
Washington 2 10,673 10,673 0 0
Wisconsin 3 8,788 8,788 0 0
----------- -------------- ---------------- -------------- --------------
107 345,369 345,369 0 0
----------- -------------- ---------------- -------------- --------------
Unallocated Reserve
for Losses 1,935
--------------
Total 107 $343,434 $345,369 $0 $0
=========== ============== ================ ============== ==============
NOTES:
(a) The classification "residential" includes single dwellings only.
Residential multiple dwellings are included in "apartment and business".
(b) Real estate taxes and easements, which in the opinion of the Company are
not undue burden on the properties, have been excluded from the
determination of "prior liens".
(c) In this schedule III, carrying amount of mortgage loans represents unpaid
principal balances plus unamortized premiums less unamortized discounts and
reserve for loss.
(d) Interest in arrears for less than three months has been disregarded in
computing the total amount of principal subject to delinquent interest. The
amounts of mortgage loans being foreclosed are also included in amounts
subject to delinquent interest.
(e) Information as to interest due and accrued for the various classes within
the types of mortgage loans is not readily available and the obtaining
thereof would involve unreasonable effort and expense.
The Company does not accrue interest on loans which are over three months
delinquent.
(f) Information as to interest income by type and class of loan has been
omitted because it is not readily available and the obtaining thereof would
involve unreasonable effort and expense. In lieu thereof, the average gross
interest rates (exclusive of amortization of discounts and premiums) on
mortgage loans held at December 31, 2001 are shown by type and class of
loan.
The average gross interest rates on mortgage loans held at December 31,
2001, 2000, and 1999 are summarized as follows:
2001 2000 1999
-------- -------- --------
First mortgages:
Insured by Federal Housing Administration 0.000% 0.000% 0.000%
Partially guaranteed under Servicemen's
Readjustment Act of 1944, as amended 0.000 0.000 0.000
------- -------- --------
Other 6.978 7.276 7.274
------- -------- --------
Combined average 6.978% 7.276% 7.274%
======== ======== ========
(g) Following is a reconciliation of the carrying amount of mortgage loans for
the years ended December 31, 2001, 2000 and 1999.
2001 2000 1999
---------- ---------- ----------
Balance at beginning of period $358,575 $378,047 $334,280
New loans acquired:
Nonaffiliated companies 16,356 763 66,068
Reserve for loss reversal 0 0 100
---------- ---------- ----------
Total additions 16,356 763 66,168
---------- ---------- ----------
374,931 378,810 400,448
---------- ---------- ----------
Deductions during period:
Collections of principal 30,306 20,002 22,401
Reserve for loss 1,191 233 0
---------- ---------- ----------
Total deductions 31,497 20,235 22,401
---------- ---------- ----------
Balance at end of period $343,434 $358,575 $378,047
========== ========== ==========
(h) The aggregate cost of mortgage loans for federal income tax purposes at
December 31, 2001 was $345,369.
(i) At December 31, 2001, an unallocated reserve for loss on first mortgage
loans of $1,935 is recorded.
AMERICAN EXPRESS CERTIFICATE COMPANY
Qualified Assets on Deposit
December 31, 2001
($ thousands)
Investment Securities
-------------------------
Bonds and Mortgage
Notes Stocks Loans Other
Name of Depositary (a) (b) (c) (d) Total
- ---------------------------------------------- ----------- --------- --------- --------- -----------
Deposits with states or their depositories to
meet requirements of statutes and
agreements:
Illinois - Secretary of
State of Illinois $49 $0 $0 $0 $49
New Jersey - Commissioner
of Banking and Insurance
of New Jersey 50 0 0 0 50
Pennsylvania - Treasurer
of the State of
Pennsylvania 149 0 0 0 149
Texas - Treasurer of the
State of Texas 113 0 0 0 113
----------- --------- --------- --------- -----------
Total deposits with states or their
depositories to meet requirements of
statues and agreements 361 0 0 0 361
Central depository - American
Express Trust Company 3,755,970 199,417 343,434 248,462 4,547,283
----------- --------- --------- --------- -----------
Total $3,756,331 $199,417 $343,434 $248,462 $4,547,644
=========== ========= ========= ========= ===========
Notes:
(a) Represents amortized cost of bonds and notes.
(b) Represents average cost of individual issues of stocks.
(c) Represents unpaid principal balance of mortgage loans less unamortized
discounts and reserve for losses.
(d) Represents cost of purchased call options and accounts payable purchased.
AMERICAN EXPRESS CERTIFICATE COMPANY
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2001
($ in thousands)
Balance at beginning of period Additions
-------------------------------- ---------------------------------
Number
of Charged
Yield accounts Amount Charged Reserv to other
to maturity with of Amount to profit payments by accounts
on an annual security maturity of and loss certificate (per
Description payment basis holders value reserves or income holders part 2)
----------- -------------------- --------- --------- -------- --------- ------------ --------
Installment certificates:
Reserves to mature:
Series 15, includes extended maturities 2.40 Inst/2.50 Ext. 0 0 0 0 0 0
" 20, " " " 2.52 Inst/2.50 Ext. 1 14 9 0 0 0
" 15A, " " " 2.66 Inst/3.04 Ext. 1 7 7 0 0 0
" 22A, " " " 3.09 575 13,437 10,738 296 120 211
" I-76, " " " 3.35 393 8,879 5,465 181 151 11
" Reserve Plus Flexible Payment (note a) 149 1,361 678 0 113 18
" IC-Q-Installment (note a) 48 572 168 0 21 4
" IC-Q-Ins (note a) 1,273 14,541 6,640 0 535 114
" IC-Q-Ins Emp (note a) 9 83 57 0 4 1
" IC-I (note a) 24,693 410,501 169,125 0 31,582 6,109
" IC-I-Emp (note a) 150 2,106 1,123 0 233 47
" Inst (note a) 7,685 0 18,816 0 10,432 547
" Inst-Emp (note a) 42 0 77 0 53 3
" RP-Q-Installment (note a) 103 1,351 906 0 11 25
" RP-Q-Flexible Payment (note a) 9 109 60 0 0 2
" RP-Q-Ins (note a) 18 508 124 0 5 3
" RP-Q-Ins Emp (note a) 1 6 8 0 0 0
" RP-I (note a) 142 4,244 1,453 0 237 54
" RP-I-Emp (note a) 0 0 0 0 0 0
" Inst-R (note a) 58 9,608 183 0 79 5
" Inst-R-Emp (note a) 2 12 4 0 1 0
--------- --------- -------- -------- --------- --------
Total 35,352 467,339 215,641 477 43,577 7,154
--------- --------- -------- -------- --------- --------
Payments made in advance of certificate
year requirements and accrued interest
thereon:
Series 15, includes extended maturities 2 Not Not 0 0 0 0
" 20, " " " 2 Readily Applicable 1 0 0 0
" 15A, " " " 3 Available 1 0 0 0
" 22A, " " " 3 380 18 48 4
" I-76, " " " 3.5 315 16 23 0
-------- -------- --------- --------
Total 697 34 71 4
-------- -------- --------- --------
Additional credits and accrued interest
thereon:
Series 15, includes extended maturities 2.5 Not Not 0 0 0 0
" 20, " " " 2.5 Readily Applicable 2 0 0 0
" 15A, " " " 3 Available 0 0 0 0
" 22A, " " " 3 2,529 67 0 122
" I-76, " " " 3.5 1,265 42 0 41
Deductions Balance at close of period
---------------------------------- --------------------------------
Number
Credited of
Cash to other accounts Amount
surrenders accounts with of Amount
prior to (per security maturity of
Description Maturities maturity part 2) holders value reserves
----------- ---------- ------- ------- --------- --------- --------
Installment certificates:
Reserves to mature:
Series 15, includes extended maturities 0 0 0 0 0 0
" 20, " " " 0 0 9 0 0 0
" 15A, " " " 7 0 0 0 0 0
" 22A, " " " 145 778 1,351 461 10,874 9,091
" I-76, " " " 0 384 146 359 8,027 5,278
" Reserve Plus Flexible Payment 6 197 0 135 1,256 606
" IC-Q-Installment 4 50 0 37 460 139
" IC-Q-Ins 3,021 1,656 0 485 5,501 2,612
" IC-Q-Ins Emp 33 11 0 3 29 18
" IC-I 0 59,853 0 19,577 320,290 146,963
" IC-I-Emp 0 299 0 118 1,724 1,104
" Inst 0 5,161 0 8,097 0 24,634
" Inst-Emp 0 42 0 40 0 91
" RP-Q-Installment 1 112 0 88 1,206 829
" RP-Q-Flexible Payment 4 1 0 7 83 57
" RP-Q-Ins 49 11 0 9 310 72
" RP-Q-Ins Emp 7 0 0 0 0 1
" RP-I 0 500 0 111 2,949 1,244
" RP-I-Emp 0 0 0 1 6 0
" Inst-R 0 27 0 84 10,587 240
" Inst-R-Emp 0 0 0 2 12 5
---------- ------- ------- -------- -------- --------
Total 3,277 69,082 1,506 29,614 363,314 192,984
---------- ------- ------- -------- -------- --------
Payments made in advance of certificate
year requirements and accrued interest
thereon: 0 0 0 Not Not 0
Series 15, includes extended maturities 0 0 2 Readily Applicable (1)
" 20, " " " 0 0 0 Available 1
" 15A, " " " 2 24 116 308
" 22A, " " " 0 6 11 337
" I-76, " " " ---------- ------- ------- --------
Total 2 30 129 645
---------- ------- ------- --------
Additional credits and accrued interest
thereon:
Series 15, includes extended maturities 0 0 0 Not Not 0
" 20, " " " 0 0 2 Readily Applicable (0)
" 15A, " " " 1 0 0 Available (1)
" 22A, " " " 38 173 334 2,173
" I-76, " " " 0 89 30 1,229
AMERICAN EXPRESS CERTIFICATE COMPANY
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2001
($ in thousands)
Balance at beginning of period Additions
-------------------------------- ---------------------------------
Number
of Charged
Yield accounts Amount Charged Reserv to other
to maturity with of Amount to profit payments by accounts
on an annual security maturity of and loss certificate (per
Description payment basis holders value reserves or income holders part 2)
----------- ------------- --------- --------- -------- --------- ----------- --------
" Reserve Plus Flexible Payment (note a) 0 18 0 0
" IC-Q-Installment (note a) 0 4 0 0
" IC-Q-Ins (note a) 0 114 0 0
" IC-Q-Ins Emp (note a) 0 1 0 0
" IC-I (note a) 302 5,987 0 0
" IC-I-Emp (note a) 2 47 0 0
" Inst (note a) 24 540 0 0
" Inst-Emp (note a) 0 3 0 0
" RP-Q-Installment (note a) 0 25 0 0
" RP-Q-Flexible Payment (note a) 0 2 0 0
" RP-Q-Ins (note a) 0 3 0 0
" RP-Q-Ins Emp (note a) 0 0 0 0
" RP-I (note a) 2 52 0 0
" RP-I-Emp (note a) 0 0 0 0
" Inst-RP (note a) 0 5 0 0
" Inst-RP-Emp (note a) 0 0 0 0
-------- --------- ----------- --------
Total 4,126 6,910 0 163
-------- --------- ----------- --------
Reserve for accrued extra contribution 3rd year 3,218 587 (2,231) 0
Reserve for accrued extra contribution 6th year 0 0 0 0
Accrued interest on reserves in default I-76 3.5 1 2 0 0
Reserve for additional credits to be allowed 0 0 0 0
Installment Certificates-Special Additional Not Not 0 0 0 0
Credits I-76 Readily Applicable 0 0 0 0
Accrued for additional credits to be allowed at Available 0 0 0 0
next anniversary 74 172 0 0
Reserve for death and disability refund options 0 0 0 0
Reserve for reconversion of paid-up certificates 54 (21) 0 0
-------- --------- ----------- --------
Total installment certificates 223,811 8,161 41,417 7,321
-------- --------- ----------- --------
Fully paid certificates:
Single-Payment certificates:
SP 74 3.5 0 0 0 0 0 0
SP 75 3.5 0 0 0 0 0 0
SP 76 3.5 0 0 0 0 0 0
SP 77 3.5 0 0 0 0 0 0
SP 78 3.5 0 0 0 0 0 0
SP 79 3.5 2 15 15 0 0 0
SP 80 3.5 55 346 346 2 0 0
SP 81A 3.5 219 1,337 1,301 30 0 0
SP 82A 3.5 181 1,586 1,496 50 0 0
SP 82B 3.5 312 2,792 2,602 86 0 0
Deductions Balance at close of period
---------------------------------- --------------------------------
Number
Credited of
Cash to other accounts Amount
surrenders accounts with of Amount
prior to (per security maturity of
Description Maturities maturity part 2) holders value reserves
----------- ---------- ------- ------- --------- --------- ---------
" Reserve Plus Flexible Payment 0 0 18 (0)
" IC-Q-Installment 0 0 4 0
" IC-Q-Ins 0 0 114 0
" IC-Q-Ins Emp 0 0 1 0
" IC-I 0 0 6,116 173
" IC-I-Emp 0 0 47 2
" Inst 0 0 547 17
" Inst-Emp 0 0 3 0
" RP-Q-Installment 0 0 25 0
" RP-Q-Flexible Payment 0 0 2 0
" RP-Q-Ins 0 0 3 0
" RP-Q-Ins Emp 0 0 0 0
" RP-I 0 0 54 0
" RP-I-Emp 0 0 0 0
" Inst-RP 0 0 5 0
" Inst-RP-Emp 0 0 0 0
---------- ------- ------- ---------
Total 39 262 7,305 3,593
---------- ------- ------- ---------
Reserve for accrued extra contribution 3rd year 0 0 0 1,574
Reserve for accrued extra contribution 6th year 0 0 0 0
Accrued interest on reserves in default I-76 0 0 3 (0)
Reserve for additional credits to be allowed 0 0 0
Installment Certificates-Special Additional 0 0 0 Not Not 0
Credits I-76 0 0 0 Readily Applicable 0
Accrued for additional credits to be allowed at 0 0 0 Available 0
next anniversary 0 0 140 106
Reserve for death and disability refund options 0 0 0 0
Reserve for reconversion of paid-up certificates 0 0 0 33
---------- ------- ------- -------- -------- ---------
Total installment certificates 3,318 69,374 9,083 29,614 363,314 198,935
---------- ------- ------- -------- -------- ---------
Fully paid certificates:
Single-Payment certificates:
SP 74 0 0 0 0 0 0
SP 75 0 0 0 0 0 0
SP 76 0 0 0 0 0 0
SP 77 0 0 0 0 0 0
SP 78 0 0 0 0 0 0
SP 79 0 0 0 2 15 15
SP 80 268 24 50 1 4 6
SP 81A 676 120 179 57 359 356
SP 82A 0 181 0 161 1,398 1,365
SP 82B 0 256 0 282 2,521 2,432
AMERICAN EXPRESS CERTIFICATE COMPANY
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2001
($ in thousands)
Balance at beginning of period Additions
-------------------------------- ---------------------------------
Number
of Charged
Yield accounts Amount Charged Reserve to other
to maturity with of Amount to profit payments by accounts
on an annual security maturity of and loss certificate (per
Description payment basis holders value reserves or income holders part 2)
----------- ------------- --------- --------- -------- --------- ----------- --------
SP 83A 3.5 59 467 430 14 0 0
SP 83B 3.5 135 1,279 1,155 39 0 0
IC-2-84 3.5 460 4,454 3,891 130 0 0
IC-2-85 3.5 202 3,135 2,898 0 0 140
IC-2-86 3.5 128 1,998 1,576 0 0 72
IC-2-87 3.5 177 2,856 2,395 0 0 113
IC-2-88 3.5 315 5,034 4,030 0 0 191
Reserve Plus Single Payment (note a) 550 217,168 4,714 0 0 152
Cash Reserve Single Payment (note b) 23 145 161 0 0 5
IC-Flexible Savings (Variable Term) (note d) 61,304 453,804 518,511 0 678,057 36,147
IC-Flexible Savings Emp (VT) (note d) 863 10,666 13,509 0 673 645
IC-Preferred Investors 145 168,452 174,571 0 24,720 4,521
IC-Investors (note d) 692 1,018,167 1,089,659 1 500,939 48,871
IC-Special Deposits U.K. (note d) 58 77,515 109,695 0 11,585 4,571
IC-Special Deposits HONG KONG (note d) 7 19,585 0 0 0 0
IC-1-84 (note c) 36 290 261 0 0 13
Cash Reserve Variable Payment (note b) 302 1,498 2,034 0 285 60
Cash Reserve Variable PMT-3mo. (note e) 37,615 125,632 135,211 0 124,226 4,300
IC-Future Value (note f) 2,729 g 29,020 0 0 0
IC-Future Value Emp (note f) 57 459 458 0 0 0
IC-Stock Market (note g) 106,220 451,654 530,003 0 133,264 2,266
IC-MSC (note g) 19,903 291,598 303,638 0 82,573 2,729
Equity Indexed Savings 4 108 108 0 1,135 0
IC-AEBI Stock Market (note g) 99 26,134 26,996 0 50,272 125
-------- --------- --------- -------- --------- --------
Total 232,852 2,888,174 2,960,684 352 1,607,729 104,921
-------- --------- --------- --------- --------- --------
Additional credits and accrued interest thereon:
SP 74 3.5 0 0 0 0
SP 75 3.5 0 0 0 0
SP 76 3.5 0 0 0 0
SP 77 3.5 0 0 0 0
SP 78 3.5 0 0 0 0
SP 79 3.5 15 0 0 0
SP 80 3.5 328 2 0 8
SP 81A 3.5 962 22 0 30
SP 82A 3.5 1,116 37 0 42
SP 82B 3.5 1,816 61 0 60
SP 83A 3.5 244 8 0 10
SP 83B 3.5 614 21 0 23
IC-2-84 3.5 2,067 70 0 84
IC-2-85 3.5 46 99 0 0
IC-2-86 3.5 25 54 0 0
IC-2-87 3.5 45 81 0 0
IC-2-88 3.5 73 142 0 0
Deductions Balance at close of period
---------------------------------- --------------------------------
Number
Credited of
Cash to other accounts Amount
surrenders accounts with of Amount
prior to (per security maturity of
Description Maturities maturity part 2) holders value reserves
----------- ---------- ------- ------- --------- --------- --------
SP 83A 0 65 0 51 398 379
SP 83B 0 69 0 123 1,203 1,125
IC-2-84 0 353 0 410 4,056 3,668
IC-2-85 0 296 0 204 3,684 2,742
IC-2-86 0 148 0 116 1,864 1,500
IC-2-87 0 302 0 156 2,557 2,206
IC-2-88 0 178 0 298 4,792 4,043
Reserve Plus Single Payment 0 725 0 474 2,327 4,141
Cash Reserve Single Payment 0 5 0 21 143 161
IC-Flexible Savings (Variable Term) 0 284,062 0 72,171 871,426 948,653
IC-Flexible Savings Emp (VT) 0 2,333 0 732 9,777 12,494
IC-Preferred Investors 0 185,212 0 30 17,179 18,600
IC-Investors 0 543,050 0 637 1,020,204 1,096,420
IC-Special Deposits U.K. 0 26,576 0 53 73,684 99,275
IC-Special Deposits HONG KONG 0 0 0 4 14,585 0
IC-1-84 0 14 0 33 285 260
Cash Reserve Variable Payment 0 739 0 250 1,156 1,640
Cash Reserve Variable PMT-3mo. 0 130,751 0 35,346 124,332 132,986
IC-Future Value 7,586 2,999 0 1,680 18,435 18,435
IC-Future Value Emp 144 32 0 34 282 282
IC-Stock Market 0 175,222 0 97,475 430,142 490,311
IC-MSC 0 73,881 0 21,588 304,732 315,059
Equity Indexed Savings 0 23 0 15 1,220 1,220
IC-AEBI Stock Market 0 10,641 0 177 66,083 66,752
-------- --------- ------- --------- --------- ---------
Total 8,674 1,438,257 229 232,581 2,978,843 3,226,525
-------- --------- ------- --------- --------- ---------
Additional credits and accrued interest the
SP 74 0 0 0 0
SP 75 0 0 0 0
SP 76 0 0 0 0
SP 77 0 0 0 0
SP 78 0 0 0 0
SP 79 0 0 0 15
SP 80 262 21 50 5
SP 81A 532 98 141 243
SP 82A 0 144 0 1,051
SP 82B 0 172 0 1,765
SP 83A 0 40 0 222
SP 83B 0 40 0 618
IC-2-84 0 200 0 2,021
IC-2-85 0 4 97 44
IC-2-86 0 3 51 25
IC-2-87 0 4 81 41
IC-2-88 0 2 138 75
AMERICAN EXPRESS CERTIFICATE COMPANY
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2001
($ in thousands)
Balance at beginning of period Additions
-------------------------------- ---------------------------------
Number
of Charged
Yield accounts Amount Charged Reserve to other
to maturity with of Amount to profit payments by accounts
on an annual security maturity of and loss certificate (per
Description payment basis holders value reserves or income holders part 2)
----------- ------------- --------- --------- -------- --------- ----------- --------
Reserve Plus SP 2004-4061 (note a) 0 152 0 0
Cash Reserve SP (note b) 0 6 0 0
IC-Flexible Savings (note d) 1,195 40,698 0 0
IC-Preferred Investors (note d) 465 4,237 0 0
IC-FS-EMP (note d) 33 748 0 0
IC-Investors (note d) 2,698 52,397 0 0
IC-Special Deposits U.K. (note d) 260 4,469 0 0
IC-Special Deposits HONG KONG (note d) 0 0 0 0
IC-1-84 - 2013-4061 (note c) 5 13 0 0
Cash Reserve VP 2004-4061 (note b) 0 62 0 0
Cash Reserve Variable Payment-3mo. (note e) 233 4,438 0 0
IC-Future Value (note f) 17,479 2,770 0 0
IC-Future Value Emp (note f) 338 55 0 0
IC-Stk Mkt, 2004/16/31-4000/16 (note g) 1,624 2,158 0 0
IC-MSC (note g) 312 2,680 0 0
IC - EISC 0 1 0 0
IC-AEBI Stk Mkt 2004/31/19-4000/16 (note g) 58 316 0 0
-------- --------- --------- --------
Total 32,051 115,797 0 257
-------- --------- --------- --------
Accrued for additional credits to be allowed
at next anniversaries:
SP 78 (0) 0 0 0
SP 79 0 0 0 0
SP 80 7 1 0 0
SP 81A 15 18 0 0
SP 82A 13 29 0 0
SP 82B 30 57 0 0
SP 83A 6 5 0 0
SP 83B 10 20 0 0
IC-2-84 - 2019-4061 37 74 0 0
IC-2-85 19 30 0 0
IC-2-86 11 15 0 0
IC-2-87 17 25 0 0
IC-2-88 26 41 0 0
IC-Stock Mkt - 2019/31-4061 SEC 5 from C2785-81 120 6,194 0 0
IC-Market Strategy Certificate (SEC 5 from c2785-81) 80 3,244 0 0
IC-EISC 0 13 0 0
IC-AEBI Stock Market 9 937 0 0
-------- --------- --------- --------
Total 400 10,703 0 0
-------- --------- --------- --------
Deductions Balance at close of period
---------------------------------- --------------------------------
Number
Credited of
Cash to other accounts Amount
surrenders accounts with of Amount
prior to (per security maturity of
Description Maturities maturity part 2) holders value reserves
----------- ---------- ------- ------- --------- --------- --------
Reserve Plus SP 2004-4061 0 0 152
Cash Reserve SP 0 0 6 0
IC-Flexible Savings 0 3,962 36,173 1,758
IC-Preferred Investors 0 150 4,529 23
IC-FS-EMP 0 110 645 26
IC-Investors 0 5,143 48,871 1,081
IC-Special Deposits U.K. 0 82 4,571 76
IC-Special Deposits HONG KONG 0 0 0 0
IC-1-84 - 2013-4061 0 0 13 5
Cash Reserve VP 2004-4061 0 2 60 0
Cash Reserve Variable Payment-3mo. 0 58 4,303 310
IC-Future Value 5,324 1,867 0 13,058
IC-Future Value Emp 153 15 0 225
IC-Stk Mkt, 2004/16/31-4000/16 0 193 2,266 1,323
IC-MSC 0 21 2,728 243
IC - EISC 0 0 0 1
IC-AEBI Stk Mkt 2004/31/19-4000/16 0 7 125 242
---------- ------- ------- --------
Total 6,271 12,338 105,000 24,496
---------- ------- ------- --------
Accrued for additional credits to be allowed
at next anniversaries:
SP 78 0 0 0 (0)
SP 79 0 0 0 0
SP 80 0 0 8 (0)
SP 81A 0 0 30 3
SP 82A 0 0 42 0
SP 82B 0 0 60 27
SP 83A 0 0 10 1
SP 83B 0 0 23 7
IC-2-84 - 2019-4061 0 0 84 27
IC-2-85 0 0 43 6
IC-2-86 0 0 21 5
IC-2-87 0 0 32 10
IC-2-88 0 0 53 14
IC-Stock Mkt - 2019/31-4061 SEC 5 from C2785-81 0 0 1 6,313
IC-Market Strategy Certificate (SEC 5 from c2785-81) 0 0 2 3,322
IC-EISC 0 0 0 13
IC-AEBI Stock Market 0 0 0 946
---------- ------- ------- --------
Total 0 0 409 10,694
---------- ------- ------- --------
AMERICAN EXPRESS CERTIFICATE COMPANY
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2001
($ in thousands)
Balance at beginning of period Additions
-------------------------------- ---------------------------------
Number
of Charged
Yield accounts Amount Charged Reserve to other
to maturity with of Amount to profit payments by accounts
on an annual security maturity of and loss certificate (per
Description payment basis holders value reserves or income holders part 2)
----------- ------------- --------- --------- -------- --------- ----------- --------
R Series Single-Payment certificates:
R-76 3.5 5 24 23 0 0 1
R-77 3.5 21 371 207 0 0 10
R-78 3.5 46 404 346 0 0 16
R-79 3.5 59 766 617 0 0 29
R-80 3.5 54 497 354 0 0 17
R-81 3.5 24 315 223 0 0 11
R-82A 3.5 131 1,078 557 0 0 26
RP-Q (note a) 311 533 1,247 0 0 40
R-II 3.5 85 734 351 0 0 16
RP-2-84 3.5 248 3,201 1,278 0 0 61
RP-2-85 3.5 87 331 377 0 0 18
RP-2-86 3.5 20 77 79 0 0 4
RP-2-87 3.5 52 1,074 282 0 0 14
RP-2-88 3.5 69 513 352 0 0 17
Cash Reserve RP (note b) 5 15 31 0 0 1
IC-Flexible Savings RP (note d) 11,850 162,775 179,614 0 168,253 12,741
RP-Preferred Investors (note d) 21 12,607 13,257 0 1,013 453
Cash Reserve RP-3 mo. (note e) 1,708 16,872 17,991 0 24,564 588
IC-Flexible Savings RP Emp (note d) 284 4,242 5,243 0 151 259
RP-Future Value (note f) 2,365 40,326 40,325 0 0 0
RP-Future Value Emp (note f) 74 1,269 1,270 0 0 0
RP-Stock Market (note g) 12,306 99,687 113,985 0 43,971 447
RP-Market Strategy 2,962 85,505 88,651 0 25,163 829
D-1 (note a) 162 17,935 23,283 0 223 1,012
--------- --------- -------- --------- ---------- --------
Total 32,949 451,151 489,943 0 263,338 16,610
--------- --------- -------- --------- ---------- --------
Additional Interest on R-Series Single
Payment Reserves:
R-76 3.5 Not Not (0) 1 0 0
R-77 3.5 Applicable Applicable 3 10 0 0
R-78 3.5 10 15 0 0
R-79 3.5 13 28 0 0
R-80 3.5 12 16 0 0
R-81 3.5 6 10 0 0
R-82A 3.5 23 25 0 0
RP-Q (note a) 0 40 0 0
R-II 3.5 10 16 0 0
RP-2-84 3.5 36 58 0 0
RP-2-85 3.5 13 17 0 0
RP-2-86 3.5 2 4 0 0
RP-2-87 3.5 9 13 0 0
RP-2-88 3.5 8 15 0 0
Cash Reserve RP (note b) (0) 1 0 0
Deductions Balance at close of period
---------------------------------- --------------------------------
Number
Credited of
Cash to other accounts Amount
surrenders accounts with of Amount
prior to (per security maturity of
Description Maturities maturity part 2) holders value reserves
----------- ---------- ------- ------- --------- -------- --------
R Series Single-Payment certificates:
R-76 0 10 0 4 15 14
R-77 0 9 0 18 348 208
R-78 0 88 0 39 310 274
R-79 0 114 0 50 637 532
R-80 0 73 0 44 410 298
R-81 0 20 0 20 290 214
R-82A 0 85 0 115 800 498
RP-Q 0 200 0 270 459 1,087
R-II 0 44 0 76 644 323
RP-2-84 0 181 0 212 2,819 1,158
RP-2-85 0 61 0 72 279 334
RP-2-86 0 8 0 19 69 75
RP-2-87 0 34 0 43 673 262
RP-2-88 0 54 0 61 454 315
Cash Reserve RP 0 0 0 5 15 32
IC-Flexible Savings RP 0 64,002 0 15,438 273,256 296,606
RP-Preferred Investors 0 11,679 0 6 2,847 3,044
Cash Reserve RP-3 mo. 0 27,952 0 1,687 14,165 15,191
IC-Flexible Savings RP Emp 0 1,075 0 252 3,522 4,578
RP-Future Value 11,779 3,019 0 1,451 25,529 25,527
RP-Future Value Emp 229 221 0 53 818 820
RP-Stock Market 0 31,857 0 12,652 113,582 126,546
RP-Market Strategy 0 19,003 0 3,455 93,107 95,640
D-1 13 4,446 0 154 16,174 20,059
---------- ------- ------- --------- -------- --------
Total 12,021 164,235 0 36,196 551,222 593,635
---------- ------- ------- --------- -------- --------
Additional Interest on R-Series Single
Payment Reserves:
R-76 0 0 1 Not Not (0)
R-77 0 0 10 Applicable Applicable 3
R-78 0 2 16 7
R-79 0 2 29 10
R-80 0 1 17 10
R-81 0 0 11 5
R-82A 0 2 26 20
RP-Q 0 40 0
R-II 0 1 16 9
RP-2-84 0 3 61 30
RP-2-85 0 1 18 11
RP-2-86 0 0 4 2
RP-2-87 0 0 14 8
RP-2-88 0 0 17 6
Cash Reserve RP 0 0 1 (0)
AMERICAN EXPRESS CERTIFICATE COMPANY
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2001
($ in thousands)
Balance at beginning of period Additions
-------------------------------- ---------------------------------
Number
of Charged
Yield accounts Amount Charged Reserve to other
to maturity with of Amount to profit payments by accounts
on an annual security maturity of and loss certificate (per
Description payment basis holders value reserves or income holders part 2)
----------- ------------- --------- --------- -------- --------- ----------- --------
IC-Flexible Savings RP (note d) 423 14,030 0 0
RP-Preferred Investors (note d) 36 449 0 0
Cash Reserve RP-3 mo. (note e) 32 594 0 0
IC-Flexible Savings RP Emp (note d) 13 279 0 0
IC-Future Value (note f) 24,580 3,822 0 0
IC-Future Value Emp (note f) 911 137 0 0
RP-Stock Market (note g) 313 456 0 0
RP-Market Strategy 74 821 0 0
D-1 (note a) 3 1,093 0 0
-------- --------- ---------- --------
Total 26,530 21,950 0 0
-------- --------- ---------- --------
at next anniversaries:
RP-Stock Market 33 1,729 0 0
RP-Market Strategy 24 981 0 0
-------- --------- ---------- --------
Total single payment 3,509,665 151,511 1,871,067 121,788
-------- --------- ---------- --------
Paid-up certificates:
Series 15 and 20 3.25 7 83 76 2 0 0
" 15A and 22A 3.5 241 5,363 4,733 153 0 861
" I-76 3.5 529 2,800 2,046 68 0 179
--------- --------- -------- --------- ---------- --------
Total 777 8,246 6,855 223 0 1,040
--------- --------- -------- --------- ---------- --------
Additional credits and accrued interest thereon:
Series 15 and 20 2.5 Not Not 3 0 0 1
" 15A and 22A 3 Applicable Applicable 121 3 0 23
" I-76 3.5 178 6 0 15
-------- --------- ---------- --------
Total 302 9 0 39
-------- --------- ---------- --------
Accrued for additional credits to be allowed
at next anniversaries 24 50 0 0
--------- --------- -------- --------- ---------- --------
Total paid-up 777 8,246 7,181 282 0 1,079
--------- --------- -------- --------- ---------- --------
Optional settlement certificates:
Series 1, IST&G 3 12 3 0 0 0
Other series and conversions from Single 0 0 0
Payment certificates 2.5-3-3-3.5 5,717 78,636 2,291 0 2,119
Series R-76 thru R-82A 3 15 54 1 0 1
Series R-II & RP-2-84 thru 88 3.5 11 263 8 0 4
Reserve Plus Single-Payment (note a) 81 829 27 0 0
Reserve Plus Flex-Pay & IC-Q-Inst (note a) 14 66 2 0 0
Series R-Installment (note a) 32 187 5 0 0
Deductions Balance at close of period
---------------------------------- --------------------------------
Number
Credited of
Cash to other accounts Amount
surrenders accounts with of Amount
prior to (per security maturity of
Description Maturities maturity part 2) holders value reserves
----------- ---------- ------- ------- --------- -------- --------
IC-Flexible Savings RP 0 1,144 12,741 568
RP-Preferred Investors 0 26 453 6
Cash Reserve RP-3 mo. 0 1 588 37
IC-Flexible Savings RP Emp 0 22 260 10
IC-Future Value 8,477 1,992 0 17,933
IC-Future Value Emp 240 259 0 549
RP-Stock Market 0 35 447 287
RP-Market Strategy 0 2 830 63
D-1 0 83 1,013 (0)
Total 8,717 3,576 16,613 19,574
---------- ------- ------- --------
at next anniversaries:
RP-Stock Market 0 0 1 1,761
RP-Market Strategy 0 0 0 1,005
---------- ------- ------- --------
Total single payment 35,683 1,618,406 122,252 3,877,690
---------- ------- ------- --------
Paid-up certificates:
Series 15 and 20 15 16 0 5 50 47
" 15A and 22A 416 528 664 207 4,648 4,139
" I-76 0 411 0 502 2,489 1,882
---------- ------- ------- -------- -------- --------
Total 431 955 664 714 7,187 6,068
---------- ------- ------- -------- -------- --------
Additional credits and accrued interest thereon:
Series 15 and 20 0 1 0 Not Not 3
" 15A and 22A 17 9 14 Applicable Applicable 107
" I-76 0 27 0 172
---------- ------- ------- --------
Total 17 37 14 282
---------- ------- ------- --------
Accrued for additional credits to be allowed
at next anniversaries 0 0 38 36
---------- ------- ------- -------- -------- --------
Total paid-up 448 992 716 714 7,187 6,386
---------- ------- ------- -------- -------- --------
Optional settlement certificates:
Series 1, IST&G 1 0 0 12 2
Other series and conversions from Single 0 0 0 0 0
Payment certificates 4,310 5,623 0 5,133 73,113
Series R-76 thru R-82A 20 0 0 0 36
Series R-II & RP-2-84 thru 88 40 0 0 0 235
Reserve Plus Single-Payment 35 103 0 68 718
Reserve Plus Flex-Pay & IC-Q-Inst 4 4 0 13 60
Series R-Installment 26 24 0 26 142
AMERICAN EXPRESS CERTIFICATE COMPANY
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2001
($ in thousands)
Balance at beginning of period Additions
-------------------------------- ---------------------------------
Number
of Charged
Yield accounts Amount Charged Reserve to other
to maturity with of Amount to profit payments by accounts
on an annual security maturity of and loss certificate (per
Description payment basis holders value reserves or income holders part 2)
----------- ------------- --------- --------- -------- --------- ----------- --------
Series R-Single-Payment (note a) 17 13 (0) 0 0
Add'l credits and accrued int. thereon 2.5-3 Not Not 9,541 257 0 1,085
Add'l credits and accrued int. thereon-IST&G 2.5-3 Applicable Applicable 0 0 0 0
Accrued for additional credits to be allowed
at next anniversaries 547 1,246 0 1
Accrued for additional credits to be allowed
at next anniversaries-R-76 thru R-82A & R-II 2 3 0 0
Accrued for additional credits to be allowed
at next anniversaries-IST&G 0 0 0 0
--------- --------- ------- --------- -------
Total optional settlement 5,899 90,141 3,840 0 3,210
--------- --------- ------- --------- -------
Not Not
Due to unlocated certificate holders Applicable 261 1 Applicable 73
--------- ------- --------- -------
Total certificate reserves 3,831,060 163,795 1,912,484 133,470
========= ======= ========= =======
Income (loss) from purchased and written call options included
in provision for certificate reserves in Statement of Operations
Total adjusted certificate reserves
Provision for certificate reserves and additional
credits, per Statement of Operations 156,531
Provision for reconversion applied against reserve recoveries from
terminations prior to maturity in Statement of Operations (20)
Income (loss) from purchased and written call options included
in provision for certificate reserves in Statement of Operations 7,284
-------
163,795
=======
Deductions Balance at close of period
---------------------------------- --------------------------------
Number
Credited of
Cash to other accounts Amount
surrenders accounts with of Amount
prior to (per security maturity of
Description Maturities maturity part 2) holders value reserves
----------- ---------- ------- ------- --------- -------- --------
Series R-Single-Payment 6 0 0 13 7
Add'l credits and accrued int. thereon 833 769 306 0 8,975
Add'l credits and accrued int. thereon-IST&G 0 0 0 0 0
Accrued for additional credits to be allowed
at next anniversaries 10 0 1,090 0 694
Accrued for additional credits to be allowed
at next anniversaries-R-76 thru R-82A & R-II 1 0 5 0 (1)
Accrued for additional credits to be allowed
at next anniversaries-IST&G 0 0 0 0 (0)
---------- ------- ------- --------- --------
Total optional settlement 5,286 6,523 1,401 5,265 83,981
---------- ------- ------- --------- --------
Not Not
Due to unlocated certificate holders Applicable 32 84 Applicable 219
---------- ------- ------- --------- --------
44,735 1,695,327 133,536 4,167,210
Total certificate reserves ====== ========= ======= =========
Income (loss) from purchased and written call options included
in provision for certificate reserves in Statement of Operations 7,284
Total adjusted certificate reserves 4,159,926
=========
Provision for certificate reserves and additional
credits, per Statement of Operations
Provision for reconversion applied against reserve recoveries from
terminations prior to maturity in Statement of Operations
Income (loss) from purchased and written call options included
in provision for certificate reserves in Statement of Operations
Notes:
(a) On these series of certificates, there is no minimum rate of accrual of
interest. Interest is declared for a quarter or quarters by American
Express Certificate Company (AECC) and credited to the reserves
maintained at the end of each calendar quarter.
(b) On these series of certificates, there is no minimum rate of accrual of
interest. Interest is declared for a quarter or quarters by AECC and
credited to the reserves maintained or paid in cash at the end of each
calendar month.
(c) On these series of certificates, there is no minimum rate of accrual of
interest. Interest is declared by AECC for the first four certificate
quarters, then annually thereafter, and credited to the reserves
maintained at the end of each certificate year.
(d) On this series of certificates, there is no minimum rate of accrual of
interest. Interest is declared by AECC for the term selected and credited
to the reserves maintained or paid in cash at the end of each certificate
month.
(e) On this series of certificates, there is no minimum rate of accrual of
interest. Interest is declared by AECC for a three-month term and
credited to the reserves maintained or paid in cash at the end of each
certificate month.
(f) On this series of certificates, there is no minimum rate of accrual of
interest. Interest was declared by AECC for a four, five, six, seven,
eight, nine or ten year maturity and credited to the reserves maintained
at maturity.
(g) On this series of certificates, the certificate holder may elect to
receive minimum interest only or minimum interest plus participation
interest. Minimum interest is declared by AECC for a twelve-month term
and is credited to the the reserves maintained at the end of each
certificate term. Participation interest is determined at the end of each
certificate term by multiplying the market participation rate in effect
at the beginning of the certificate term for each certificate times any
total percentage appreciation in a broad stock market indicator subject
to specified maximums. Participation interest is credited to the reserves
maintained at the end of each certificate term.
Part 2 - Description of Additions to Reserves Charged to Other
Accounts and Deductions from Reserves Credited to Other Accounts
Year ended December 31, 2001
($ in thousands)
Additions to reserves charged to other accounts Deductions from reserves credited to other accounts
----------------------------------------------- ---------------------------------------------------
Transfers of
maturities
to extended Conversions
maturities- to optional Maturities
Reconversions charged to settlement transferred
of paid-up reserves Conversions certificates- to extended
certificate to mature, to paid-up credited maturities-
charged Charged additional certificates- to optional credited to
to paid-up to credits/ credited settlement reserves to
reserves and advance interest Transferred to paid-up reserves and mature-
reserve for payments and advance to Federal surrender surrender extended
reconversions reserve payments Withholding Total income income maturities Total
------------- -------- ----------- ----------- ----- ------------ ------------- ---------- -----
Reserves to mature installment
certificates:
Series 15, including extended
maturities 0 0 0 0 0 0 0 0 0
Series 20, including extended
maturities 0 0 0 0 0 0 9 0 9
Series 15A, including extended
maturities 0 0 0 0 0 0 0 0 0
Series 22A, including extended
maturities 91 99 21 0 211 707 623 21 1,351
Series I-76 0 11 0 0 11 146 0 0 146
Series Reserve Plus
Flexible Payment 0 0 18 0 18 0 0 0 0
Series IC-Q-Installment 0 0 4 0 4 0 0 0 0
Series IC-Q-Ins 0 0 114 0 114 0 0 0 0
Series IC-Q-Ins Emp 0 0 1 0 1 0 0 0 0
Series IC-I 0 0 6,109 0 6,109 0 0 0 0
Series IC-I-Emp 0 0 47 0 47 0 0 0 0
Series Inst 0 0 547 0 547 0 0 0 0
Series Inst-Emp 0 0 3 0 3 0 0 0 0
Series RP-Q-Installment 0 0 25 0 25 0 0 0 0
Series RP-Q-Flexible Payment 0 0 2 0 2 0 0 0 0
Series RP-Q-Ins 0 0 3 0 3 0 0 0 0
Series RP-Q-Ins Emp 0 0 0 0 0 0 0 0 0
Series RP-I 0 0 54 0 54 0 0 0 0
Series RP-I Emp 0 0 5 0 5 0 0 0 0
------ ------- --------- -------- ----- ------ -------- -------- -----
Total 91 110 6,953 0 7,154 853 632 21 1,506
======= ======= ========= ======== ===== ====== ======== ======== =====
Additions to reserves charged to other accounts Deductions from reserves credited to other accounts
----------------------------------------------- ---------------------------------------------------
Additions Maturities
Additions to reserves Applied to Conversions transferred
to advance to mature- certificates- to optional to extended
Reconversions payments- extended credited to settlement maturities- Conversions
of paid-up charged to maturities reserves to certificates- credited to to paid-up
Payments made in advance certificates- default charged to mature, credited reserves certificates-
of current certificate charged to interest reserves to loading to optional to mature- credited to
year requirements and paid-up on late mature from and settlement extended paid-up
accrued interest thereon: reserves payments maturity Total insurance reserves maturities reserves Total
-------------- ---------- ------------ ----- ------------ ------------- ------------ ------------- -----
Series 15, including extended
maturities 0 0 0 0 0 0 0 0 0
Series 20, including extended
maturities 0 0 0 0 0 2 0 0 2
Series 15A, including extended
maturities 0 0 0 0 0 0 0 0 0
Series 22A, including extended
maturities 1 0 3 4 99 13 3 1 116
Series I-76 0 0 0 0 11 0 0 0 11
Series Reserve Plus
Flexible Payment 0 0 0 0 0 0 0 0 0
Series IC-Q Installment 0 0 0 0 0 0 0 0 0
Series IC-Q Ins 0 0 0 0 0 0 0 0 0
Series IC-Q Ins Emp 0 0 0 0 0 0 0 0 0
Series IC-I 0 0 0 0 0 0 0 0 0
Series IC-I Emp 0 0 0 0 0 0 0 0 0
Series RP-Q Installment 0 0 0 0 0 0 0 0 0
Series RP-Q Flexible Payment 0 0 0 0 0 0 0 0 0
Series RP-Q Ins 0 0 0 0 0 0 0 0 0
Series RP-Q Ins Emp 0 0 0 0 0 0 0 0 0
Series RP-I 0 0 0 0 0 0 0 0 0
Series RP-I Emp 0 0 0 0 0 0 0 0 0
----- ----- ------- ------ ----- ------ ----- ------- ------
Total 1 0 3 4 110 15 3 1 129
===== ===== ======= ====== ===== ====== ===== ======= ======
Certificate Reserves
($ in thousands)
Year ended December 31, 2001
Part 2 - Descriptions of Additions to Reserves Charged to Other
Accounts and Deductions from Reserves Credited to Other Accounts
Additional credits on installment certificates and accrued interest thereon:
Other additions represent:
Transfers from accruals for additional credits to be allowed at next anniversaries $ 140
Reconversions of paid-up certificates-charged to paid-up reserves 19
Transfers from maturities to extended maturities 4
-------------
$ 163
=============
Other deductions represent:
Transfers to reserves on a quarterly basis for Reserve Plus Flexible-
Payment, IC-Q-Installment and R-Flexible-Payment $ 6,939
Conversions to optional settlement certificates-credited to optional
settlement reserves 178
Conversions to paid-up certificates-credited to paid-up reserves 184
Transfers to extended maturities at maturity 4
-------------
$ 7,305
=============
Accrual for additional credits to be allowed on installment certificates at next
anniversaries:
Other deductions represent:
Transfers to reserves for additional credits on installment certificates $ 140
=============
Reserve for death and disability refund options: Other deductions represent:
Payments, in excess of installment reserves, made to certificate holders
who exercised the death and disability refund options. $ 0
============
Reserve for reconversions of paid-up certificates:
The amount shown as charged to profit and loss has been deducted from
reserve recoveries in the accompanying Statement of Operations $ 0
=============
Other deductions represent:
Amounts credited to installment certificate reserves to mature, on
reconversions of paid-up certificates. $ 0
=============
Paid-up certificates:
Other additions represent:
Conversions from installment certificates (charged to installment reserves
less surrender charges) $ 1,040
Transfers from accrual for additional credits to be allowed at next
anniversaries 39
-------------
$ 1,079
============
Other deductions represent:
Transfers credited to installment reserves on reconversions to installment
certificates $ 110
Transfers for accrual for additional credits and accrued interest thereon 52
Transfers to settlement options 554
-------------
$ 716
=============
Certificate Reserves
($ in thousands)
Year ended December 31, 2001
Part 2 - Descriptions of Additions to Reserves Charged to Other
Accounts and Deductions from Reserves Credited to Other Accounts
Default interest on installment certificates:
Other additions represent:
Reconversions of paid-up certificates charged to paid-up reserves $ 0
=============
Other deductions represent:
Conversions to paid-up certificates - credited to paid-up reserves $ 0
Transfers to advance payments as late payments are credited to certificates 3
-------------
$ 3
=============
Optional settlement certificates:
Other additions represent:
Transfers from installment certificate reserves (less surrender charges),
single-payment and Series D certificate reserves upon election of
optional settlement privileges $ 1,557
Transfers from paid-up certificate reserves 568
Transfers from accruals for additional credits to be allowed at next anniversaries 1,085
-------------
$ 3,210
=============
Other deductions represent:
Transfers to reserve for additional credits and accrued interest thereon $ 1,091
Transfers to optional settlement reserves 310
-------------
$ 1,401
=============
Single-Payment certificates:
Other additions represent:
Transfers from accruals for additional credits to be allowed at next anniversaries $ 257
Transfers from accruals on a quarterly basis on: 0
Reserve Plus Single-Payment 152
Cash Reserve Single-Payment 5
Flexible Savings 36,147
Flexible Savings-Emp 645
Preferred Investors 4,521
Investors 48,871
Special Deposits 4,571
Cash Reserve 60
Cash Reserve-3mo 4,300
Future Value 0
Stock Market 2,266
Market Strategy 2,729
AEBI Stock Market 125
R82-B 40
Cash Reserve-RP 1
Cash Reserve-RP-3mo 588
Flexible Saving-RP 12,741
Flexible Savings-RP-Emp 259
Preferred Investors-RP 453
Stock Market-RP 447
Market Strategy-RP 829
Transfers from accruals at anniversaries maintained in a separate 1,780
-------------
reserve account. $ 121,787
=============
Certificate Reserves
($ in thousands)
Year ended December 31, 2001
Part 2 - Descriptions of Additions to Reserves Charged to Other
Accounts and Deductions from Reserves Credited to Other Accounts
Single-Payment certificates continued:
Other deductions represent:
Transfers to optional settlement reserves:
Single-Payment $ 3,975
R Single-Payment 0
Transfers to reserves for additional credits and accrued interest thereon 1,780
Transfers to a separate reserve account from the accrual account 257
Transfers to reserves on a quarterly basis:
Reserve Plus Single-Payment 151
Cash Reserve Single-Payment 6
Flexible Savings 36,147
Flexible Savings-Emp 645
Preferred Investors 4,529
Investors 48,871
Special Deposits 4,571
Cash Reserve 60
Cash Reserve-3mo 4,299
Stock Market 2,266
AEBI Stock Market 125
R82-B 40
Cash Reserve-RP 1
Cash Reserve-RP-3mo 588
Flexible Saving-RP 12,741
Flexible Savings-RP-Emp 260
Preferred Investors-RP 453
Stock Market-RP 448
Transfers to Federal tax withholding 39
-------------
$ 122,252
=============
Due to unlocated certificate holders:
Other additions represent:
Amounts equivalent to payments due certificate holders who could
not be located $ 73
=============
Other deductions represent:
Payments to certificate holders credited to cash $ 84
=============
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
($ in thousands)
Year ended December 31, 2001
Deductions from Reserves
------------------------
Cash
Accounts with Amount of Amount of Surrenders
Months Certificate Holders Maturity Value Reserves Prior to
Certificate Series Paid December 31, December 31, December 31, Maturity Other
- ------------------ ------- ------------------- -------------- ------------- ---------- --------
2000 2001 2000 2001 2000 2001 2001 2001
------ ------ ------ ------ ------ ------ ------ --------
20, including extended maturities 253-264 1 0 14 0 9 0 0 0
265-276 0 0 0 0 0 0 0 9
277-288 0 0 0 0 0 0 0 0
289-300 0 0 0 0 0 0 0 0
301-312 0 0 0 0 0 0 0 0
313-324 0 0 0 0 0 0 0 0
325-336 0 0 0 0 0 0 0 0
337-348 0 0 0 0 0 0 0 0
349-360 (a) 0 0 0 0 0 0 0 0
------- ------ ------ ------ ------ ------ ------ --------
Total 1 0 14 0 9 0 0 9
------- ------ ------ ------ ------ ------ ------ --------
15A, including extended maturities 229-240 (a) 0 0 0 0 0 0 0 0
241-252 1 0 7 0 7 0 0 0
------- ------ ------ ------ ------ ------ ------ --------
Total 1 0 7 0 7 0 0 0
------- ------ ------ ------ ------ ------ ------ --------
22A, including extended maturities 73-84 1 0 19 0 4 0 0 0
85-96 0 0 0 0 0 0 0 0
97-108 0 0 0 0 0 0 0 0
109-120 0 0 0 0 0 0 0 0
121-132 1 0 13 0 5 0 0 0
133-144 2 1 38 13 16 6 0 8
145-156 1 1 15 19 7 8 0 0
157-168 2 1 56 15 30 8 0 0
169-180 0 2 0 56 0 33 0 0
181-192 2 0 56 0 36 0 0 0
193-204 1 2 19 38 12 26 26 0
205-216 1 0 19 0 14 0 0 0
217-228 1 1 38 18 30 14 0 65
229-240 4 0 109 0 94 0 0 34
241-252 6 3 148 34 136 30 0 34
253-264 (a) 7 6 114 148 112 145 0 39
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
($ in thousands)
Year ended December 31, 2001
Deductions from Reserves
------------------------
Cash
Accounts with Amount of Amount of Surrenders
Months Certificate Holders Maturity Value Reserves Prior to
Certificate Series Paid December 31, December 31, December 31, Maturity Other
- ------------------ ------- ------------------- -------------- ------------- ---------- --------
2000 2001 2000 2001 2000 2001 2001 2001
------ ------ ------ ------ ------ ------ ------ --------
265-276 7 2 439 36 265 22 0 20
277-288 4 5 461 276 296 177 83 0
289-300 15 3 412 331 283 224 89 27
301-312 78 14 2,075 380 1,475 276 47 135
313-324 80 67 1,991 1,702 1,500 1,277 117 94
325-336 92 71 2,244 1,718 1,797 1,366 177 92
337-348 76 85 1,669 2,027 1,402 1,711 57 46
349-360 76 69 1,500 1,569 1,325 1,389 55 128
361-372 64 65 1,250 1,270 1,163 1,180 53 12
373-384 54 63 753 1,224 736 1,198 61 556
------- ------ -------- ------- ------- ------- ------ ------
Total 575 461 13,438 10,874 10,738 9,090 765 1,290
------- ------ -------- ------- ------- ------- ------ ------
I-76 145-156 0 0 0 0 0 0 0 0
157-168 1 1 37 37 12 12 0 0
169-180 0 0 0 0 0 0 0 0
181-192 2 0 40 0 15 0 0 0
193-204 1 2 25 40 10 17 0 0
205-216 0 1 0 26 0 11 0 0
217-228 15 0 363 0 181 0 0 15
229-240 43 11 1,086 240 571 127 69 17
241-252 67 39 1,716 984 970 555 78 34
253-264 67 60 1,405 1,522 850 920 47 7
265-276 82 63 1,584 1,328 1,018 858 42 20
277-288 72 78 1,670 1,488 1,149 1,019 36 29
289-300 43 65 953 1,510 689 1,105 55 11
301-312 0 39 0 852 0 654 58 0
------- ------ -------- ------- ------- ------- ------ ------
Total 393 359 8,879 8,027 5,465 5,278 385 133
------- ------ -------- ------- ------- ------- ------ ------
Reserve Plus Flexible Payment 193-204 26 0 149 0 120 0 0 0
205-216 65 24 583 240 276 113 30 0
217-228 58 60 520 552 282 228 96 0
229-240 0 51 0 464 0 263 71 0
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
($ in thousands)
Year ended December 31, 2001
Deductions from Reserves
------------------------
Cash
Accounts with Amount of Amount of Surrenders
Months Certificate Holders Maturity Value Reserves Prior to
Certificate Series Paid December 31, December 31, December 31, Maturity Other
- ------------------ ------- ------------------- -------------- ------------- ---------- -------
2000 2001 2000 2001 2000 2001 2001 2001
------ ------ ------ ------ ------ ------ ------ -------
Total 149 135 1,252 1,256 678 604 197 0
------- ------- -------- -------- -------- -------- ------- -------
IC-Q-Installment 169-180 4 0 57 0 9 0 0 0
181-192 24 3 352 51 81 5 5 0
193-204 20 17 163 277 78 59 28 0
205-216 0 17 0 132 0 74 17 0
------- ------- -------- -------- -------- -------- ------- -------
Total 48 37 572 460 168 138 50 0
------- ------- -------- -------- -------- -------- ------- -------
IC-Q-Ins 85-96 1 0 12 0 11 0 0 0
97-108 350 0 4,191 0 1,865 0 10 0
109-120 735 259 8,219 2,917 3,755 1,351 577 0
121-132 50 64 523 679 304 352 846 0
133-144 40 39 534 436 208 265 69 0
145-156 63 36 747 491 379 170 42 0
157-168 24 58 228 693 94 363 72 0
169-180 10 20 87 204 23 94 17 0
181-192 0 9 0 81 0 15 11 0
------- ------- -------- -------- -------- -------- ------- -------
Total 1,273 485 14,541 5,501 6,639 2,610 1,644 0
------- ------- -------- -------- -------- -------- ------- -------
IC-Q-Ins Emp 97-108 3 0 18 0 9 0 0 0
109-120 4 1 42 6 34 1 8 0
121-132 1 0 6 0 1 0 3 0
133-144 0 1 0 6 0 2 0 0
145-156 1 0 17 0 13 0 0 0
157-168 0 1 0 17 0 15 0 0
------- ------- -------- -------- -------- -------- ------- -------
Total 9 3 83 29 57 18 11 0
------- ------- -------- -------- -------- -------- ------- -------
IC-I 1-12 4 1 36 6 2 0 3 0
13-24 8 2 82 12 25 2 1 0
25-36 3 8 80 82 26 34 0 0
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
($ in thousands)
Year ended December 31, 2001
Deductions from Reserves
------------------------
Cash
Accounts with Amount of Amount of Surrenders
Months Certificate Holders Maturity Value Reserves Prior to
Certificate Series Paid December 31, December 31, December 31, Maturity Other
- ------------------ ------- ------------------- -------------- ------------- ---------- -------
37-48 2,592 2 44,349 32 13,794 12 18 0
49-60 6,023 2,210 101,537 37,827 37,229 14,458 1,626 0
61-72 7,219 5,036 122,773 84,715 53,560 35,813 5,309 0
73-84 4,581 4,980 77,194 81,965 33,770 38,676 18,030 0
85-96 2,889 3,646 44,279 60,087 20,332 29,086 7,071 0
97-108 1,374 2,479 20,171 37,983 10,387 18,706 2,802 0
109-120 0 1,213 0 17,580 0 10,176 1,200 0
------- ------- -------- -------- -------- -------- ------- -------
Total 24,693 19,577 410,501 320,289 169,125 146,963 36,060 0
------- ------- -------- -------- -------- -------- ------- -------
IC-I-Emp 37-48 13 0 138 0 72 0 0 0
49-60 41 11 771 120 309 72 3 0
61-72 42 35 420 609 236 282 70 0
73-84 31 28 384 308 226 193 57 0
85-96 15 22 210 300 111 227 38 0
97-108 8 15 183 210 169 117 0 0
109-120 0 7 0 177 0 216 1 0
------- ------- -------- -------- -------- -------- ------- -------
Total 150 118 2,106 1,724 1,123 1,107 169 0
------- ------- -------- -------- -------- -------- ------- -------
Inst 1-12 1,859 1,733 0 0 1,672 1,742 68 0
13-24 2,003 1,439 0 0 4,065 3,127 327 0
25-36 2,328 1,690 0 0 7,243 5,420 586 0
37-48 1,495 1,971 0 0 5,836 8,139 1,040
49-60 0 1,264 0 0 6,206 6,206 795 0
------- ------- -------- -------- -------- -------- ------- -------
Total 7,685 8,097 0 0 25,022 24,634 2,816 0
------- ------- -------- -------- -------- -------- ------- -------
Inst-Emp 1-12 16 10 0 0 13 5 4 0
13-24 10 9 0 0 11 15 5 0
25-36 11 9 0 0 36 13 3 0
37-48 5 7 17 34 12 0
49-60 0 5 0 0 0 24 0 0
------- ------- -------- -------- -------- -------- ------- -------
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
($ in thousands)
Year ended December 31, 2001
Deductions from Reserves
------------------------
Cash
Accounts with Amount of Amount of Surrenders
Months Certificate Holders Maturity Value Reserves Prior to
Certificate Series Paid December 31, December 31, December 31, Maturity Other
- ------------------ ------- ------------------- -------------- ------------- ---------- -------
Total 42 40 0 0 77 91 24 0
------- ------- -------- -------- -------- -------- ------- -------
R Flexible Payment 181-192 27 0 382 0 0 0 0 0
193-204 8 25 135 369 216 210 13 0
205-216 35 7 481 115 34 32 0 0
217-228 33 30 353 421 264 230 35 0
229-240 0 26 0 301 392 356 39 0
------- ------- -------- -------- -------- -------- ------- -------
Total 103 88 1,351 1,206 906 828 87 0
------- ------- -------- -------- -------- -------- ------- -------
RP-Q-Installments 169-180 7 0 91 0 48 0 0 0
181-192 2 5 0 65 12 45 1 0
193-204 0 2 18 18 0 12 0 0
------- ------- -------- -------- -------- -------- ------- -------
Total 9 7 109 83 60 57 1 0
------- ------- -------- -------- -------- -------- ------- -------
RP-Q-Ins 85-96 0 0 0 0 0 0 0 0
97-108 3 0 31 0 7 0 0 0
109-120 8 3 187 32 39 8 0 0
121-132 4 0 260 0 66 0 0 0
133-144 2 4 18 260 5 59 0 0
145-156 0 2 0 18 0 5 0 0
157-168 1 0 12 0 7 0 0 0
------- ------- -------- -------- -------- -------- ------- -------
Total 18 9 508 310 124 72 0 0
------- ------- -------- -------- -------- -------- ------- -------
RP-Q-Ins Emp 97-108 0 0 0 0 0 0 0 0
109-120 1 0 6 0 8 0 0 0
------- ------- -------- -------- -------- -------- ------- -------
Total 1 0 6 0 8 0 0 0
------- ------- -------- -------- -------- -------- ------- -------
RP-I 25-36 0 0 0 0 0 0 0 0
37-48 23 0 1,386 0 262 0 0 0
49-60 26 21 765 666 301 214 45 0
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
($ in thousands)
Year ended December 31, 2001
Deductions from Reserves
------------------------
Cash
Accounts with Amount of Amount of Surrenders
Months Certificate Holders Maturity Value Reserves Prior to
Certificate Series Paid December 31, December 31, December 31, Maturity Other
- ------------------ ------- ------------------- -------------- ------------- ---------- -------
61-72 28 21 744 528 283 237 81 0
73-84 26 16 567 594 216 219 101 0
85-96 21 17 458 418 271 210 64 0
97-108 18 19 324 431 120 259 25
109-120 0 17 0 312 0 106 2 0
------- ------- -------- -------- -------- -------- ------- -------
Total 142 111 4,244 2,949 1,453 1,245 318 0
------- ------- -------- -------- -------- -------- ------- -------
Inst-R 1-12 14 36 4,823 3,820 50 50 1 0
13-24 21 9 3,819 2,106 67 33 5 0
25-36 19 19 274 3,776 56 91 2 0
37-48 4 16 689 210 10 58 14
49-60 0 4 0 675 0 10 0 0
------- ------- -------- -------- -------- -------- ------- -------
Total 58 84 9,605 10,587 183 242 22 0
------- ------- -------- -------- -------- -------- ------- -------
Inst-R-E 1-12 2 0 12 0 4 0 0 0
13-24 0 0 0 6 0 3 0 0
25-36 0 1 0 6 0 3 0 0
37-48 0 1 0 0 0 0 0 0
------- ------- -------- -------- -------- -------- ------- -------
Total 2 2 12 12 4 6 0 0
------- ------- -------- -------- -------- -------- ------- -------
Total All Series 35,352 29,613 467,228 363,307 221,846 192,983 42,549 1,432
======= ======= ======== ======== ======== ======== ======= =======
(a) Includes accounts on which all payments necessary to mature have been
made, but additional time must elapse before the certificate maturity year
is completed. Also includes accounts for which maturity election has been
made, but no further payments have been received.
Year ended December 31, 2001
Part 4 - Amounts Periodically Credited to Certificate Holders' Accounts to
Accumulate the Maturity Amount of Installment Certificates.
Information as to (1) amounts periodically credited to each class of
security holders' accounts from installment payments and (2) such other
amounts periodically credited to accumulate the maturity amount of the
certificate (on a $1,000 face-amount certificate basis for the term of
the certificate), is filed in Part 4 of Schedule IX as part of Post-
effective Amendment No. 9 to Registration Statement No. 2-17681, Post
effective Amendment No. 1 to Registration Statement No. 2-23772 and
Post-effective Amendment No. 1 to Registration Statement No. 2-258081
and is incorporated herein by reference.
AMERICAN EXPRESS CERTIFICATE COMPANY
Valuation and Qualifying Accounts
Years ended December 31, 2001, 2000, and 1999
($ thousands)
Year ended December 31, 2001
- ------------------------------------------------------------------------------------------------------------------------------
Additions
-------------------------------
Reserves Balance Charged Balance
deducted from at to costs Deductions at
assets to beginning and from end
which they apply of period expenses Other reserves of period
- ----------------------------- -------------- ------------- ------------ ------------- ------------
Writedown for losses:
Securities $13,554 $68,542 $0 $81,292 (a) $804
Allowance for losses:
Conventional first
mortgage loans 744 1,191 0 0 1,935
Year ended December 31, 2000
- ------------------------------------------------------------------------------------------------------------------------------
Additions
-------------------------------
Reserves Balance Charged Balance
deducted from at to costs Deductions at
assets to beginning and from end
which they apply of period expenses Other reserves of period
- ----------------------------- -------------- ------------- ------------ ------------- ------------
Writedown for losses:
Securities $2,141 $11,413 $0 $0 $13,554
Allowance for losses:
Conventional first
mortgage loans 511 233 0 0 744
Year ended December 31, 1999
- ------------------------------------------------------------------------------------------------------------------------------
Additions
-------------------------------
Reserves Balance Charged Balance
deducted from at to costs Deductions at
assets to beginning and from end
which they apply of period expenses Other reserves of period
- ----------------------------- -------------- ------------- ------------ ------------- ------------
Writedown for losses:
Securities $0 $2,141 $0 $0 $2,141
Allowance for losses:
Conventional first
mortgage loans 611 0 0 100 (b) 511
a) Applicable to reversal on securities sold.
b) Applicable to adjustment of the adequacy of the reserve for mortgage loan
losses.