Notes to Financial Statements
AMERICAN EXPRESS CERTIFICATE COMPANY
A summary of fair values of financial instruments as of December 31, is as
follows:
2003 2002
----------------------------------------------------------------
Carrying Fair Carrying Fair
(Thousands) Value Value Value Value
- ----------------------------------------------------------------------------------------------------------------------
Financial assets:
Assets for which carrying values
approximate fair values $ 101,105 $ 101,105 $ 298,870 $ 298,870
Investment securities (Note 3) $ 4,509,726 $ 4,509,726 $ 4,389,396 $ 4,389,396
First mortgage loans on real estate and
Other loans (Note 4) $ 469,309 $ 493,798 $ 452,243 $ 479,517
Derivative financial instruments (Note 9) $ 153,162 $ 153,162 $ 34,403 $ 34,403
Financial liabilities:
Liabilities for which carrying values
approximate fair values $ 24,444 $ 24,444 $ 315,961 $ 315,961
Net certificate reserves (Note 5) $ 4,775,518 $ 4,779,310 $ 4,475,349 $ 4,485,288
Derivative financial instruments (Note 9) $ 116,680 $ 116,680 $ 29,579 $ 29,579
- ----------------------------------------------------------------------------------------------------------------------
F-31
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE I
Investments of Securities in Unaffiliated Issuers
At December 31, 2003
(Thousands)
Bal Held at 12/31/03 Principal Value at
Amt of Bonds & Notes or # of Cost 12/31/03
Issuer Name and Issuer Title Shares (Notes a & c) (Note a)
- ------------------------------------------ ------------------------------- --------------------- --------------
BONDS AND NOTES
U.S. Government
U.S. Government-Direct Obligations
FANNIE MAE 2008 4.000% 15,000 14,992 15,317
US TREASURY 2004 5.875% 165 164 172
US TREASURY 2006 5.625% 200 199 216
---------------------------------------------------------------
Total - U.S. Government-Direct
Obligations 15,365 15,355 15,705
---------------------------------------------------------------
Total - U.S. Government 15,365 15,355 15,705
---------------------------------------------------------------
Mortgage Backed Securities
AERCO LIMITED - ABS 2023 2.513% 12,585 1,888 1,951 (b)
ARG FUNDING CORP 2007 1.599% 3,500 3,500 3,499 (d)
BANC AMERICA LARGE LOAN 2016 6.119% 3,978 3,978 4,295 (d)
BANC AMERICA LARGE LOAN 2011 1.960% 8,213 8,213 7,096
BANK ONE CORPORATION 2011 3.860% 13,400 13,397 13,540
BEAR STEARNS SECURED INVSTRS 2040 4.000% 8,652 8,698 8,639
CAPITAL ONE AUTO FINANCE TRUST 2009 3.320% 10,000 10,195 10,184
CDC COMMERCIAL MORTGAGE TRUST 2019 5.252% 9,401 9,444 9,885
CENTEX HOME EQUITY 2029 6.470% 10,000 10,026 10,432
CENTEX HOME EQUITY 2031 3.750% 14,000 13,675 13,573
CHASE COMMERCIAL MORT SEC 2029 6.450% 197 196 199
CHASE MORTGAGE FINANCE CORP 2029 6.500% 1,606 1,602 1,640
CMC SECURITIES CORP - ABS 2031 6.490% 10,000 11,367 11,125
DLJ COMMERCIAL MORTGAGE CORP 2032 7.120% 7,341 7,356 7,960
FANNIE MAE 2011 6.000% 17,125 17,059 17,704
FANNIE MAE 2014 6.000% 9,534 9,473 10,023
FANNIE MAE 2028 5.625% 11,505 11,482 11,762
FANNIE MAE 2030 6.000% 1,706 1,704 1,731
FANNIE MAE 2042 5.000% 12,500 12,562 13,006
FANNIE MAE 2042 5.000% 15,000 15,021 15,601
FANNIE MAE 2022 5.000% 14,868 15,111 15,416
FANNIE MAE 2013 4.055% 8,315 8,315 8,351
FANNIE MAE 2033 4.550% 14,947 14,733 14,878
FANNIE MAE 105989 2020 6.353% 442 464 457
FANNIE MAE 190726 2033 4.825% 1,816 1,857 1,869
FANNIE MAE 249907 2024 4.250% 1,565 1,587 1,588
FANNIE MAE 250670 2011 7.000% 642 645 689
FANNIE MAE 250671 2011 7.500% 2,146 2,148 2,307
FANNIE MAE 250857 2012 7.000% 1,915 1,910 2,056
FANNIE MAE 252259 2014 5.500% 125 123 130
FANNIE MAE 252344 2014 5.500% 8,931 8,721 9,351
FANNIE MAE 252381 2014 5.500% 8,656 8,440 9,003
FANNIE MAE 254010 2008 5.500% 3,309 3,303 3,393
FANNIE MAE 254195 2017 5.500% 12,764 12,731 13,243
FANNIE MAE 254508 2012 5.000% 23,475 24,004 24,268
FANNIE MAE 254584 2012 5.000% 35,864 36,491 37,074
FANNIE MAE 254586 2013 5.000% 54,800 56,194 56,650
FANNIE MAE 254590 2018 5.000% 38,904 39,232 39,725
F-32
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE I
Investments of Securities in Unaffiliated Issuers
At December 31, 2003
(Thousands)
Bal Held at 12/31/03 Principal Value at
Amt of Bonds & Notes or # of Cost 12/31/03
Issuer Name and Issuer Title Shares (Notes a & c) (Note a)
- ------------------------------------------ ------------------------------- --------------------- --------------
FANNIE MAE 254591 2018 5.500% 23,605 24,450 24,487
FANNIE MAE 254663 2013 5.000% 7,669 7,797 7,928
FANNIE MAE 254719 2018 4.500% 132,046 133,276 132,294
FANNIE MAE 254720 2018 4.500% 101,016 101,551 101,206
FANNIE MAE 303115 2004 6.500% 149 148 151
FANNIE MAE 303259 2025 3.498% 1,289 1,325 1,303
FANNIE MAE 303445 2009 5.500% 4,063 3,947 4,230
FANNIE MAE 303970 2024 6.000% 6,199 6,116 6,448
FANNIE MAE 313042 2011 7.000% 1,592 1,596 1,709
FANNIE MAE 313522 2012 7.000% 3,740 3,756 3,996
FANNIE MAE 313561 2012 8.000% 2,249 2,284 2,411
FANNIE MAE 323290 2013 6.000% 344 342 362
FANNIE MAE 323748 2014 6.500% 5,518 5,403 5,853
FANNIE MAE 323833 2014 6.000% 2,886 2,859 3,033
FANNIE MAE 36225 2016 9.000% 13 13 15
FANNIE MAE 367005 2012 7.000% 1,349 1,341 1,441
FANNIE MAE 40877 2017 9.000% 24 24 26
FANNIE MAE 50973 2009 6.000% 6,255 6,157 6,586
FANNIE MAE 509806 2014 6.500% 2,229 2,207 2,364
FANNIE MAE 51617 2017 10.000% 13 13 14
FANNIE MAE 545249 2016 5.500% 17,025 17,094 17,664
FANNIE MAE 545303 2016 5.000% 14,715 14,500 15,028
FANNIE MAE 545400 2017 5.500% 21,639 21,531 22,451
FANNIE MAE 545492 2022 5.500% 5,656 5,598 5,788
FANNIE MAE 545679 2022 5.500% 12,594 12,258 12,889
FANNIE MAE 545786 2032 5.697% 4,363 4,383 4,476
FANNIE MAE 555366 2018 4.500% 158,653 160,128 159,009
FANNIE MAE 555724 2018 4.500% 14,609 14,537 14,653
FANNIE MAE 566074 2031 5.723% 3,398 3,396 3,487
FANNIE MAE 584507 2031 5.900% 3,366 3,351 3,493
FANNIE MAE 584829 2016 6.000% 5,998 5,953 6,298
FANNIE MAE 585743 2016 5.500% 15,452 15,530 16,032
FANNIE MAE 616220 2016 5.000% 13,140 12,887 13,419
FANNIE MAE 617270 2017 5.000% 14,225 14,048 14,526
FANNIE MAE 620293 2032 5.484% 7,661 7,589 7,921
FANNIE MAE 622462 2016 5.500% 11,364 11,223 11,790
FANNIE MAE 623866 2017 5.000% 14,185 14,146 14,486
FANNIE MAE 625943 2017 5.000% 20,107 20,053 20,532
FANNIE MAE 626925 2018 4.500% 5,966 6,021 5,979
FANNIE MAE 651629 2032 5.338% 8,491 8,507 8,666
FANNIE MAE 653342 2032 5.365% 4,061 4,078 4,171
FANNIE MAE 654158 2032 5.014% 6,799 6,814 7,000
FANNIE MAE 654195 2032 4.937% 5,708 5,713 5,820
FANNIE MAE 655646 2032 5.747% 5,024 5,032 5,149
FANNIE MAE 655798 2032 5.262% 10,290 10,270 10,476
FANNIE MAE 661349 2032 5.445% 6,013 6,029 6,112
FANNIE MAE 661501 2032 5.206% 4,973 4,997 5,071
FANNIE MAE 661744 2032 5.379% 8,618 8,658 8,756
FANNIE MAE 664521 2032 5.124% 7,439 7,475 7,593
FANNIE MAE 664750 2032 4.989% 6,428 6,445 6,584
FANNIE MAE 670731 2032 5.307% 8,048 8,081 8,292
FANNIE MAE 670779 2032 5.191% 8,468 8,527 8,600
F-33
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE I
Investments of Securities in Unaffiliated Issuers
At December 31, 2003
(Thousands)
Bal Held at 12/31/03 Principal Value at
Amt of Bonds & Notes or # of Cost 12/31/03
Issuer Name and Issuer Title Shares (Notes a & c) (Note a)
- ------------------------------------------ ------------------------------- --------------------- --------------
FANNIE MAE 670890 2032 4.744% 11,192 11,241 11,433
FANNIE MAE 670912 2032 5.072% 8,371 8,401 8,620
FANNIE MAE 670947 2032 4.706% 12,070 12,136 12,329
FANNIE MAE 677680 2018 4.500% 43,219 43,624 43,316
FANNIE MAE 685479 2018 4.500% 33,206 33,446 33,282
FANNIE MAE 694852 2033 5.041% 10,896 11,092 11,075
FANNIE MAE 70007 2017 3.417% 297 301 302
FANNIE MAE 701161 2018 4.500% 26,609 26,801 26,670
FANNIE MAE 70117 2017 3.168% 116 117 118
FANNIE MAE 701269 2018 4.500% 26,765 26,959 26,826
FANNIE MAE 703991 2018 4.500% 26,980 27,172 27,042
FANNIE MAE 704592 2018 5.000% 17,020 17,611 17,381
FANNIE MAE 70694 2005 9.500% 90 90 95
FANNIE MAE 708635 2018 5.000% 12,133 12,551 12,390
FANNIE MAE 708646 2018 4.500% 15,992 16,042 16,029
FANNIE MAE 722779 2033 4.412% 14,877 14,911 15,042
FANNIE MAE 730652 2018 4.500% 24,087 24,474 24,143
FANNIE MAE 73227 2005 6.700% 782 782 835
FANNIE MAE 733525 2033 3.936% 18,403 17,634 17,887
FANNIE MAE 739194 2033 5.110% 9,644 9,673 9,773
FANNIE MAE 743856 2033 4.751% 4,988 4,995 4,969
FANNIE MAE 758873 2033 4.500% 10,000 9,884 9,930
FANNIE MAE 88879 2019 6.563% 435 440 437
FANNIE MAE 89125 2019 2.626% 1,423 1,454 1,446
FREDDIE MAC 2030 5.500% 13,233 13,140 13,685
FREDDIE MAC 2030 5.500% 12,770 12,731 13,069
FREDDIE MAC 2030 5.500% 8,730 8,704 8,892
FREDDIE MAC 2021 5.250% 19,435 19,418 19,857
FREDDIE MAC 2022 5.500% 22,498 23,046 22,501
FREDDIE MAC 2022 5.500% 20,588 20,928 21,421
FREDDIE MAC 2022 5.500% 58,667 59,691 60,295
FREDDIE MAC 2022 5.500% 16,141 16,437 16,797
FREDDIE MAC 2022 5.500% 72,912 74,431 75,117
FREDDIE MAC 2022 5.000% 15,278 15,547 15,694
FREDDIE MAC 2023 5.500% 21,345 21,895 22,206
FREDDIE MAC 2022 5.500% 60,000 61,529 61,313
FREDDIE MAC 2022 5.500% 144,438 147,977 149,187
FREDDIE MAC 2022 5.500% 54,912 56,380 56,985
FREDDIE MAC 2022 5.000% 25,000 25,602 25,353
FREDDIE MAC 1B0183 2031 5.497% 5,471 5,402 5,574
FREDDIE MAC 350190 2022 3.375% 631 656 637
FREDDIE MAC 405014 2019 3.512% 147 148 148
FREDDIE MAC 405092 2019 3.675% 361 358 364
FREDDIE MAC 405185 2018 3.915% 469 467 474
FREDDIE MAC 405243 2019 3.510% 164 165 166
FREDDIE MAC 405360 2019 3.410% 218 221 220
FREDDIE MAC 405437 2019 3.275% 156 155 157
FREDDIE MAC 405455 2019 3.700% 226 229 228
FREDDIE MAC 405615 2019 2.966% 287 291 289
FREDDIE MAC 502175 2004 10.500% 0 0 0
FREDDIE MAC 605041 2019 3.267% 28 28 28
FREDDIE MAC 605048 2018 3.255% 161 161 162
F-34
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE I
Investments of Securities in Unaffiliated Issuers
At December 31, 2003
(Thousands)
Bal Held at 12/31/03 Principal Value at
Amt of Bonds & Notes or # of Cost 12/31/03
Issuer Name and Issuer Title Shares (Notes a & c) (Note a)
- ------------------------------------------ ------------------------------- --------------------- --------------
FREDDIE MAC 605432 2017 3.213% 161 161 162
FREDDIE MAC 605433 2017 3.294% 320 321 323
FREDDIE MAC 605454 2017 3.061% 897 893 904
FREDDIE MAC 606024 2019 2.914% 471 466 474
FREDDIE MAC 606025 2019 2.770% 1,349 1,353 1,359
FREDDIE MAC 630074 2018 4.625% 110 109 112
FREDDIE MAC 780514 2033 5.042% 22,869 23,486 23,068
FREDDIE MAC 780845 2033 4.557% 9,801 9,519 9,779
FREDDIE MAC 780903 2033 4.581% 10,018 9,923 9,975
FREDDIE MAC 785363 2025 4.290% 650 658 669
FREDDIE MAC 785619 2026 3.625% 319 321 332
FREDDIE MAC 785634 2026 3.419% 396 396 408
FREDDIE MAC 788941 2031 5.624% 2,736 2,694 2,808
FREDDIE MAC 840031 2019 3.536% 37 37 38
FREDDIE MAC 840035 2019 3.453% 147 146 150
FREDDIE MAC 840036 2019 3.286% 328 330 337
FREDDIE MAC 840072 2019 3.444% 464 463 471
FREDDIE MAC 845154 2022 3.452% 537 557 555
FREDDIE MAC 845523 2023 3.405% 496 511 509
FREDDIE MAC 845654 2024 3.952% 1,183 1,201 1,207
FREDDIE MAC 845730 2023 3.513% 1,980 2,051 2,030
FREDDIE MAC 845733 2024 3.651% 2,047 2,084 2,103
FREDDIE MAC 846072 2029 3.594% 758 777 779
FREDDIE MAC 846107 2025 3.875% 787 801 831
FREDDIE MAC 865008 2018 5.938% 1,050 1,071 1,087
FREDDIE MAC C90581 2022 5.500% 7,182 7,127 7,344
FREDDIE MAC C90582 2022 5.500% 4,673 4,639 4,779
FREDDIE MAC E00151 2007 7.500% 561 568 595
FREDDIE MAC E00383 2010 7.000% 1,884 1,880 2,010
FREDDIE MAC E00388 2010 7.000% 1,132 1,120 1,208
FREDDIE MAC E00426 2011 6.500% 1,174 1,164 1,244
FREDDIE MAC E00484 2012 6.500% 949 929 1,005
FREDDIE MAC E01140 2017 6.000% 21,518 22,272 22,581
FREDDIE MAC E76761 2014 6.500% 4,257 4,192 4,531
FREDDIE MAC E77557 2014 6.500% 390 382 413
FREDDIE MAC E80594 2014 6.500% 360 352 383
FREDDIE MAC E90153 2017 6.000% 5,790 6,026 6,076
FREDDIE MAC E90154 2017 6.000% 14,608 15,205 15,329
FREDDIE MAC E91041 2017 5.000% 14,363 14,388 14,642
FREDDIE MAC E91491 2012 5.000% 8,511 8,709 8,769
FREDDIE MAC E93341 2012 5.000% 25,916 26,800 26,565
FREDDIE MAC E95403 2018 5.000% 10,792 11,190 11,001
FREDDIE MAC E95556 2013 4.500% 8,712 9,011 8,752
FREDDIE MAC E95562 2013 4.500% 14,550 15,043 14,616
FREDDIE MAC E95671 2018 5.000% 15,969 16,509 16,288
FREDDIE MAC E96172 2013 4.500% 45,584 47,233 46,315
FREDDIE MAC G10364 2010 7.000% 2,182 2,172 2,329
FREDDIE MAC G10369 2010 6.500% 5,643 5,587 5,988
FREDDIE MAC G10439 2011 6.500% 593 582 629
FREDDIE MAC G10665 2012 7.000% 7,532 7,514 8,032
FREDDIE MAC G10949 2014 6.500% 2,922 2,883 3,110
FREDDIE MAC G11004 2015 7.000% 1,027 1,022 1,100
F-35
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE I
Investments of Securities in Unaffiliated Issuers
At December 31, 2003
(Thousands)
Bal Held at 12/31/03 Principal Value at
Amt of Bonds & Notes or # of Cost 12/31/03
Issuer Name and Issuer Title Shares (Notes a & c) (Note a)
- ------------------------------------------ ------------------------------- --------------------- --------------
FREDDIE MAC G11193 2016 5.000% 11,016 10,855 11,234
FREDDIE MAC G11298 2017 5.000% 14,973 15,003 15,263
FREDDIE MAC G30227 2023 5.500% 14,651 15,249 14,982
GMAC MORTGAGE SECURITIES INC 2029 6.451% 1,570 1,568 1,601
GOVERNMENT NATIONAL MORTGAGE A 2018 2.578% 9,690 9,625 9,602
GOVERNMENT NATIONAL MORTGAGE A 2025 3.815% 15,152 15,052 15,177
GOVERNMENT NATIONAL MORTGAGE A 2030 5.750% 5,859 5,845 5,982
GOVERNMENT NATIONAL MORTGAGE A 8157 2023 4.375% 1,030 1,049 1,050
GOVERNMENT NATIONAL MORTGAGE A 8206 2017 4.375% 376 371 384
GOVERNMENT NATIONAL MORTGAGE A 8240 2017 4.750% 184 176 187
GOVERNMENT NATIONAL MORTGAGE A 8251 2017 4.750% 15 14 15
GOVERNMENT NATIONAL MORTGAGE A 8274 2017 5.625% 544 534 553
GOVERNMENT NATIONAL MORTGAGE A 8283 2017 5.625% 75 73 76
GOVERNMENT NATIONAL MORTGAGE A 8293 2017 5.625% 144 141 147
GOVERNMENT NATIONAL MORTGAGE A 8341 2018 4.375% 46 45 47
GOVERNMENT NATIONAL MORTGAGE A 8353 2018 4.375% 269 263 275
GOVERNMENT NATIONAL MORTGAGE A 8365 2018 4.375% 389 375 397
GOVERNMENT NATIONAL MORTGAGE A 8377 2018 4.750% 144 139 146
GOVERNMENT NATIONAL MORTGAGE A 8428 2018 5.625% 65 64 66
GOVERNMENT NATIONAL MORTGAGE A 8440 2018 5.625% 220 217 224
GOVERNMENT NATIONAL MORTGAGE A 8638 2025 4.375% 1,144 1,154 1,166
GREEN TREE ACCEPTANCE - ABS 2018 7.700% 3,709 3,505 3,071
GREENWICH CAPITAL DERIVATIVES 2013 3.357% 4,520 4,519 4,568
JP MORGAN CHASE COMM MORT SEC 2033 5.288% 3,725 3,721 3,854
KSL RECREATION GROUP INC 2013 2.220% 7,000 7,000 7,000
LEHMAN BROTHERS - ABS 2035 5.870% 2,909 2,910 3,036
LEHMAN BROTHERS - ABS 2026 5.969% 7,500 7,525 8,182
LEHMAN BROTHERS - ABS 2026 4.904% 7,500 7,528 7,899
LEHMAN BROTHERS - ABS 2026 4.023% 5,500 5,522 5,599
LEHMAN BROTHERS - ABS 2027 3.636% 14,892 14,965 15,099
LIFT - LEASE INVESTMENT FLIGHT 2016 1.593% 3,942 3,942 3,642
MERRILL LYNCH MORTGAGE INVSTRS 2033 4.086% 10,000 9,981 10,233
MORGAN - J.P. COMM MTGE FIN CO 2030 6.373% 78 78 78
MORGAN - J.P. COMM MTGE FIN CO 2035 6.180% 5,528 5,536 5,941
MORGAN STANLEY 2039 5.380% 5,762 5,818 6,125
MORGAN STANLEY 2035 4.090% 3,928 3,927 4,038
MORGAN STANLEY 2035 5.160% 2,500 2,509 2,651
MORGAN STANLEY MORTGAGE TRUST 2030 6.590% 4,757 4,759 4,830
MORGAN STANLEY MORTGAGE TRUST 2030 6.250% 475 474 487
MORGAN STANLEY MORTGAGE TRUST 2040 3.270% 9,736 9,782 9,403
MORGAN STANLEY MTG TRUST - CMO 2005 7.562% 2,500 2,499 2,738 (d)
NPF XII INC - ABS 2003 1.539% 10,000 1,700 1,700 (b)(d)(e)
RESIDENTIAL ASSET SECURITIES 2027 6.390% 735 732 736
SHEARSON LEHMAN PASS-THROUGH 2004 6.875% 249 248 251 (d)
TRIZEC PROPERTIES INC 2013 6.522% 5,000 4,998 5,331 (d)
WASHINGTON MUTUAL INC 2033 3.930% 10,000 10,000 10,078
WASHINGTON MUTUAL INC 2033 3.990% 7,500 7,499 7,414
WASHINGTON MUTUAL INC 2034 3.961% 12,500 12,499 12,441
WESTERN FINANCIAL SV 2008 2.250% 5,000 5,000 5,013
---------------------------------------------------------------
Total - Mortgage Backed Securities 2,597,992 2,605,686 2,630,666
---------------------------------------------------------------
F-36
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE I
Investments of Securities in Unaffiliated Issuers
At December 31, 2003
(Thousands)
Bal Held at 12/31/03 Principal Value at
Amt of Bonds & Notes or # of Cost 12/31/03
Issuer Name and Issuer Title Shares (Notes a & c) (Note a)
- ------------------------------------------ ------------------------------- --------------------- --------------
Municipal Bonds
California
CALIFORNIA HSG FIN AGY SGL FAM 2016 7.890% 475 475 477
---------------------------------------------------------------
Total - California 475 475 477
---------------------------------------------------------------
New Jersey
NEW JERSEY STATE TRNPK AUTH 2009 3.140% 4,000 4,000 3,931
---------------------------------------------------------------
Total - New Jersey 4,000 4,000 3,931
---------------------------------------------------------------
New York
NEW YORK CITY GO - LT 2008 3.000% 5,000 5,004 4,859
---------------------------------------------------------------
Total - New York 5,000 5,004 4,859
---------------------------------------------------------------
Pennsylvania
WYOMING VALLEY PA SANI AUTH WT 2007 5.125% 60 60 63
---------------------------------------------------------------
Total - Pennsylvania 60 60 63
---------------------------------------------------------------
Total - Municipal Bonds 9,535 9,539 9,330
---------------------------------------------------------------
Corporate Debt Securities
Corporate - Finance
ALLIANCE CAPITAL MGMT -LP 2006 5.625% 12,500 12,462 13,313
ALLSTATE CORP 2006 5.375% 5,000 4,990 5,361
ALLSTATE CORP 2008 4.250% 5,000 4,991 5,108 (d)
AMB PROPERTY CORP 2005 7.200% 5,000 4,997 5,466
AMERICAN GENERAL FINANCE CORP 2007 4.500% 7,500 7,483 7,790
AMERICAN GENERAL FINANCE CORP 2008 2.750% 7,500 7,410 7,210
AON CORP 2004 6.900% 3,000 3,000 3,070
ASSOCIATED BANC CORP 2007 3.700% 6,000 5,950 6,086
BANK OF AMERICA CORP 2010 7.800% 5,000 5,905 5,946
BANK OF NEW YORK CO INC 2007 5.200% 7,000 7,079 7,499
BANK OF NEW YORK CO INC 2009 3.625% 10,000 9,973 9,967
BANK ONE NA 2008 3.700% 19,000 19,199 19,232
BANKAMERICA CORP 2009 5.875% 5,000 5,416 5,478
BANKAMERICA CORP 2004 6.625% 5,000 4,999 5,119
BANKNORTH GROUP INC 2008 3.750% 6,150 6,210 6,108
BEAR STEARNS 2008 4.000% 10,000 10,490 10,185
BERKSHIRE HATHAWAY 2008 3.375% 17,500 17,441 17,417 (d)
CAPITAL ONE BANK 2006 6.875% 8,800 9,270 9,520
CITIGROUP INC 2010 7.250% 6,500 7,567 7,576
COUNTRYWIDE FUNDING CORP 2004 5.250% 10,000 9,996 10,170
COUNTRYWIDE HOME LOANS 2006 5.500% 5,000 4,986 5,345
CREDIT SUISSE FIRST BOSTON INC 2008 4.625% 15,000 15,375 15,615
CREDIT SUISSE FIRST BOSTON INC 2009 3.875% 2,000 2,000 1,998
ERAC USA FINANCE COMPANY 2004 6.950% 9,000 9,004 9,073 (d)
FIFTH THIRD BANCORP 2008 3.375% 12,000 11,897 11,970
FIRST UNION CORP 2004 6.625% 3,000 2,999 3,070
FLEET BOSTON FINANCIAL CORP 2007 4.200% 11,000 11,157 11,359
FLEET FINANCIAL GROUP INC. 2005 7.250% 2,900 3,148 3,153
FORD MOTOR CREDIT CO 2006 6.875% 5,000 5,048 5,337
GOLDMAN SACHS GROUP INC 2005 7.625% 10,000 10,256 10,930
GOLDMAN SACHS GROUP INC 2012 6.600% 10,000 10,160 11,175
HERTZ CORP 2004 1.710% 10,000 10,000 9,976
HOUSEHOLD FINANCE CORP 2006 6.500% 2,000 1,998 2,163
HOUSEHOLD FINANCE CORP 2008 4.625% 12,000 12,329 12,474
HOUSEHOLD INTERNATIONAL 2007 5.750% 5,000 4,929 5,406
JP MORGAN CHASE & COMPANY 2008 4.000% 10,000 10,046 10,174
F-37
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE I
Investments of Securities in Unaffiliated Issuers
At December 31, 2003
(Thousands)
Bal Held at 12/31/03 Principal Value at
Amt of Bonds & Notes or # of Cost 12/31/03
Issuer Name and Issuer Title Shares (Notes a & c) (Note a)
- ------------------------------------------ ------------------------------- --------------------- --------------
KELLOGG UK HOLDING CO LIMITED 2006 4.490% 8,400 8,400 8,692 (d)
KEY BANK OF NY 2008 7.500% 9,000 10,740 10,440
LEHMAN BROTHERS HLDGS 2006 6.250% 10,000 9,990 10,853
LEHMAN BROTHERS HLDGS 2008 4.000% 5,000 5,192 5,089
LEHMAN BROTHERS HLDGS 2010 4.375% 8,500 8,430 8,351
MARSH & MCLENNAN COMPANIES IN 2008 3.625% 5,000 4,990 5,012
MARSHALL & ILSLEY CORP 2006 5.750% 10,000 9,996 10,885
MBNA AMERICA BANK NA 2005 7.750% 6,000 5,991 6,543
MBNA CORP 2008 4.625% 5,000 4,993 5,134
MERRILL LYNCH & CO INC 2009 4.750% 10,000 9,982 10,343
MERRILL LYNCH & CO INC 2008 3.700% 7,500 7,717 7,549
MERRILL LYNCH & CO INC 2010 4.500% 2,000 2,010 2,019
MERRILL LYNCH AIG CBO 2010 2.490% 6,500 0 0 (b)(e)
MERRILL LYNCH ELLIOTT & PAIGE 2010 2.601% 11,000 0 0 (b)(d)(e)
METLIFE INC 2005 3.911% 10,000 10,139 10,284
MGIC INVESTMENT CORP/WI 2005 7.500% 7,000 6,989 7,638
MORGAN STANLEY 2006 6.100% 5,000 4,998 5,411
MORGAN STANLEY 2007 5.800% 5,000 4,990 5,423
MORGAN STANLEY 2008 3.625% 5,000 5,017 5,007
NATIONWIDE BLDG SOCIETY 2009 4.000% 5,000 4,989 5,041
NATWEST - NATIONAL WESTMINSTER 2009 7.375% 12,650 14,927 14,943
O'N'E' LOAN TRUST 2007 2.170% 25,000 27,092 27,790 (b)(d)
OLD NATIONAL BANCORP 2008 3.500% 7,000 6,980 6,880
POPULAR NA INC 2008 4.250% 12,500 12,461 12,711
POPULAR NA INC 2008 3.875% 2,500 2,504 2,495
SAFECO CORP 2010 4.875% 6,000 5,972 6,165
SIMON DEBARTOLO GROUP INC. 2007 7.125% 10,000 10,176 11,340
SLM CORP 2008 3.625% 15,000 15,038 14,936
SOUTHERN COMPANY FUNDING 2007 5.300% 6,500 6,493 7,013
SOVEREIGN BANCORP INC 2005 10.200% 3,189 3,189 3,421 (d)
ST PAUL COMPANIES 2007 5.750% 7,000 6,984 7,535
SUNTRUST BANKS INC 2007 5.050% 7,500 7,498 8,085
TIAA GLOBAL MARKETS 2008 3.875% 7,500 7,494 7,630 (d)
TRAVELERS PROPERTY CASUALTY 2008 3.750% 5,000 4,989 5,011
UNION PLANTERS CORP 2007 5.125% 5,000 4,999 5,311
US BANCORP 2008 3.125% 5,000 4,887 4,931
US BANK NA 2011 6.375% 10,000 11,030 11,139
WACHOVIA BANK 2005 7.450% 5,000 5,000 5,420
WACHOVIA BANK 2006 4.950% 6,000 5,993 6,370
WASHINGTON MUTUAL INC 2006 7.500% 1,400 1,395 1,569
WASHINGTON MUTUAL INC 2008 4.375% 12,980 13,277 13,344
WASHINGTON MUTUAL SAVINGS BANK 2011 6.875% 1,500 1,695 1,701
WAYLAND INVESTMENT FUND LLC 2004 7.790% 5,000 5,000 5,179 (d)
WELLS FARGO & CO 2007 5.125% 5,000 5,000 5,334
WELLS FARGO & CO 2008 3.500% 5,000 4,995 5,016
WELLS FARGO & CO 2011 6.450% 4,000 4,470 4,491
---------------------------------------------------------------
Total - Corporate - Finance 619,469 615,251 632,310
---------------------------------------------------------------
F-38
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE I
Investments of Securities in Unaffiliated Issuers
At December 31, 2003
(Thousands)
Bal Held at 12/31/03 Principal Value at
Amt of Bonds & Notes or # of Cost 12/31/03
Issuer Name and Issuer Title Shares (Notes a & c) (Note a)
- ------------------------------------------ ------------------------------- --------------------- --------------
Corporate - Industrial
ABITIBI CONSOLIDATED INC 2005 8.300% 3,250 3,250 3,445
ALCOA INC 2007 4.250% 10,000 9,975 10,387
AMERICAN AIRLINES 2008 6.400% 1,505 226 1,444 (b)(d)
AMERICAN AIRLINES 2008 6.400% 1,040 156 999 (b)(d)
AMERICAN AIRLINES 2008 6.400% 1,535 230 1,473 (b)(d)
AMERICAN AIRLINES 2008 6.400% 855 128 821 (b)(d)
AMERICAN AIRLINES 2008 6.400% 855 128 821 (b)(d)
AMERICAN AIRLINES 2008 6.400% 855 128 821 (b)(d)
AMERICAN STANDARD COMPANIES 2008 7.375% 2,000 1,941 2,210
ANADARKO PETRO CORP 2008 3.250% 10,000 10,122 9,820
AOL TIME WARNER 2007 6.150% 8,000 8,664 8,704
APOGENT TECHNOLOGIES INC 2013 6.500% 1,500 1,554 1,564
ARCH COAL INC 2013 6.750% 1,000 1,022 1,028 (d)
ASHLAND INC 2005 7.830% 1,100 1,100 1,176
BALL CORP 2012 6.875% 2,000 2,065 2,090
BRITISH SKY BROADCASTING 2009 6.875% 1,500 1,461 1,684
BURLINGTON NORTHERN SANTA FE C 2005 6.375% 5,000 4,999 5,397
BURLINGTON NORTHERN SANTA FE C 2010 7.125% 5,000 5,796 5,788
CABLEVISION SYSTEMS - NY GRP - 2007 7.875% 2,500 2,416 2,638
CADBURY SCHWEPPES US 2008 3.875% 12,500 12,465 12,443 (d)
CAMPBELL SOUP CO. 2008 5.875% 6,000 6,757 6,578
CARNIVAL CORP 2007 3.750% 10,000 9,966 10,018 (d)
CASCADES INC 2013 7.250% 435 448 459
CASE CORP 2005 7.250% 1,500 1,550 1,564
CATERPILLAR FINANCE SERVICES L 2004 6.875% 5,000 4,997 5,157
CBD MEDIA/FINANCE INC 2011 8.625% 550 593 602 (d)
CHESAPEAKE ENERGY CORP 2013 7.500% 1,500 1,589 1,624
CINTAS CORP 2007 5.125% 2,000 2,000 2,138
COCA-COLA ENTERPRISES INC 2007 5.250% 10,000 9,963 10,735
COMCAST CABLEVISION 2006 6.375% 1,300 1,298 1,398
COMCAST CORP 2008 6.200% 15,000 16,392 16,460
CONAGRA FOODS INC 2005 7.500% 4,000 3,997 4,348
CONOCO FINANCIAL 2006 5.450% 3,000 3,096 3,219
CONOCO INC 2004 5.900% 7,500 7,499 7,594
COTT BEVERAGES INC 2011 8.000% 1,750 1,739 1,890
CSX CORP 2009 4.875% 8,000 8,112 8,245
CSX TRANSPORTATION INC 2007 7.450% 3,600 4,036 4,083
DAIMLER CHRYSLER NA - US 2006 6.400% 6,000 6,146 6,445
DAIMLER CHRYSLER NA - US 2008 4.750% 9,000 9,444 9,207
DEVON ENERGY CORPORATION 2004 6.750% 6,500 6,506 6,529
DEVON ENERGY CORPORATION 2004 8.050% 2,000 1,997 2,053
DEX MEDIA EAST 2010 8.500% 890 945 990 (d)
DIAGEO PLC 2007 3.500% 4,000 3,993 4,034
DIAGEO PLC 2004 6.625% 6,000 5,999 6,151
DIAGEO PLC 2008 3.375% 10,000 9,936 9,955
DISNEY COMPANY - THE WALT 2006 5.500% 10,000 10,043 10,723
DISNEY COMPANY - THE WALT 2007 5.375% 5,000 4,992 5,312
DOMINOS INC 2011 8.250% 500 527 540 (d)
DRS TECHNOLOGIES INC 2013 6.875% 1,800 1,823 1,850 (d)
ECHOSTAR DBS CORP 2008 5.750% 1,500 1,500 1,517 (d)
ECHOSTAR DBS CORP 2011 6.375% 1,000 1,000 1,028 (d)
F-39
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE I
Investments of Securities in Unaffiliated Issuers
At December 31, 2003
(Thousands)
Bal Held at 12/31/03 Principal Value at
Amt of Bonds & Notes or # of Cost 12/31/03
Issuer Name and Issuer Title Shares (Notes a & c) (Note a)
- ------------------------------------------ ------------------------------- --------------------- --------------
ENCORE ACQUISITION CO 2012 8.375% 1,000 1,062 1,083
EQUIFAX INC 2007 4.950% 4,000 3,994 4,184
EURAMAX INTERNATIONAL INC 2011 8.500% 1,000 1,048 1,065 (d)
FIRSTPLUS FINL GROUP - ABS 2023 42.594% 503 500 1,411 (b)(d)
FISHER SCIENTIFIC INTL INC 2013 8.000% 500 527 536
FISHER SCIENTIFIC INTL INC 2013 8.000% 1,000 1,074 1,073 (d)
FLEXTRONICS INTERNATIONAL 2013 6.500% 800 808 828
FORT JAMES CORP 2007 6.875% 1,000 1,028 1,055
GANNETT CO INC 2007 5.500% 10,000 9,952 10,770
GENERAL ELECTRIC CAP CORP 2008 3.500% 7,500 7,493 7,493
GENERAL ELECTRIC CAP CORP 2010 4.250% 2,000 1,990 1,986
GENERAL ELECTRIC CAP CORP 2007 5.375% 5,000 4,987 5,365
GENERAL ELECTRIC CAP CORP 2008 4.250% 4,000 3,980 4,120
GENERAL MILLS 2007 5.125% 7,300 7,575 7,754
GENERAL MOTORS ACCEPTANCE CORP 2008 5.125% 12,500 12,461 12,922
GEORGIA GULF CORP 2013 7.125% 1,200 1,228 1,248 (d)
GULFTERRA ENERGY PARTNERS LP 2010 6.250% 500 507 520
HALLMARK CARDS INC 2008 4.220% 10,000 10,000 9,957 (d)
HARRAH'S ENTERTAINMENT INC 2005 7.875% 2,000 2,036 2,175
HCA INC 2012 6.300% 1,800 1,827 1,856
HILTON HOTELS CORP 2009 7.200% 1,500 1,554 1,643
HMH PROPERTIES INC 2008 7.875% 1,200 1,242 1,248
HOLLINGER INTERNATIONAL PUBLIS 2010 9.000% 750 785 797
HORTON D R INC 2009 8.000% 2,000 1,993 2,260
HOST MARRIOTT CORP 2013 7.125% 1,000 1,000 1,033 (d)
INGERSOLL RAND 2004 5.800% 10,000 9,999 10,168
INTERNATIONAL PAPER COMPANY 2008 3.800% 15,000 15,098 14,953
INTERNATIONAL PAPER COMPANY 2009 4.250% 2,000 1,997 2,007
JC PENNEY INC 2015 6.875% 500 524 526
JOHN DEERE CAPITAL CORPORATION 2008 3.900% 15,000 15,152 15,255
JONES APPAREL GROUP INC 2004 7.500% 3,000 2,999 3,080
JONES APPAREL GROUP INC 2006 7.875% 2,000 1,997 2,224
KAUFMAN & BROAD HOME 2004 7.750% 3,000 2,997 3,075
KELLOGG CO. 2006 6.000% 5,150 5,461 5,518
KELLOGG CO. 2008 2.875% 5,000 4,999 4,843
KENDALL-JACKSON WINE ESTATES L 2009 2.411% 12,000 12,000 12,375 (d)
KEY ENERGY GROUP INC 2013 6.375% 1,000 944 1,015
KIRBY CORPORATION 2013 2.370% 15,000 15,000 15,036 (d)
KOPPERS CO 2013 9.875% 925 974 1,020 (d)
KRAFT FOODS INC 2006 4.625% 15,000 14,987 15,661
KRAFT FOODS INC 2008 4.000% 4,000 3,978 4,027
KROGER COMPANY 2006 8.150% 4,000 4,002 4,484
L-3 COMMUNICATIONS CORP 2013 6.125% 2,500 2,491 2,519
LAMAR ADVERTISING 2013 7.250% 745 771 801
LEAR CORP 2005 7.960% 1,500 1,502 1,605
LIBERTY MEDIA CORP 2006 3.500% 6,000 5,977 6,030
LIN TELEVISION CORP 2013 6.500% 1,000 978 1,001 (d)
LOCKHEED MARTIN CORPORATION. 2009 8.200% 16,000 19,481 19,430
LOUISIANA PACIFIC 2005 8.500% 1,000 995 1,080
MANITOWOC CO 2013 7.125% 1,575 1,611 1,628
MASCO CORP 2007 4.625% 5,000 4,991 5,219
MEDIA GENERAL 2006 6.950% 5,000 4,998 5,283
F-40
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE I
Investments of Securities in Unaffiliated Issuers
At December 31, 2003
(Thousands)
Bal Held at 12/31/03 Principal Value at
Amt of Bonds & Notes or # of Cost 12/31/03
Issuer Name and Issuer Title Shares (Notes a & c) (Note a)
- ------------------------------------------ ------------------------------- --------------------- --------------
MEDIANEWS GROUP INC 2013 6.875% 1,500 1,493 1,526 (d)
MGM MIRAGE INC 2009 6.000% 2,000 2,000 2,055
MOHEGAN TRIBAL GAMING AUTHORIT 2009 6.375% 1,500 1,518 1,549
MORRIS PUBLISHING 2013 7.000% 1,000 1,000 1,015 (d)
NALCO CHEMICAL 2011 7.750% 1,500 1,553 1,605 (d)
NEIGHBORCARE INC 2013 6.875% 500 505 509 (d)
NEWFIELD EXPLORATION CO 2011 7.625% 2,500 2,589 2,788
NEWS AMERICA HOLDINGS INC 2008 6.625% 13,750 15,487 15,293
NORAMPAC INC 2013 6.750% 2,000 1,958 2,085
NORTHROP GRUMMAN 2011 7.125% 5,000 5,663 5,783
NORTHWEST AIRLINES CORP 2011 6.841% 10,000 10,000 9,950
OCCIDENTAL PETROLEUM CORP 2008 7.375% 7,500 8,337 8,652
OFFSHORE LOGISTICS INC. 2013 6.125% 500 477 490
OMNICARE INC 2013 6.125% 1,750 1,783 1,759
OWENS-BROCKWAY GLASS 2011 7.750% 1,500 1,564 1,611
PACKAGING CORP OF AMERICA 2008 4.375% 3,250 3,236 3,251
PEABODY ENERGY CORP 2013 6.875% 2,500 2,597 2,638
PRAXAIR INC. 2008 2.750% 15,000 14,943 14,473
QUEBECOR WORLD INC 2006 7.200% 10,000 10,000 10,714 (d)
RAYTHEON COMPANY 2010 6.550% 1,655 1,897 1,826
RAYTHEON COMPANY 2010 6.000% 2,500 2,791 2,672
REPUBLIC SERVICES INC 2004 6.625% 5,000 4,998 5,088
RHODIA 2010 7.625% 500 516 480 (d)
RIO ALTO EXPLORATION LTD 2005 7.690% 9,000 9,000 9,759 (d)
RIO TINTO LTD 2008 2.625% 12,500 12,497 11,979
ROGERS CABLE SYSTEMS 2013 6.250% 1,500 1,524 1,511
SAFEWAY INC 2007 4.800% 5,000 4,993 5,193
SARA LEE CORP 2008 2.750% 15,000 14,954 14,500
SCHULER HOMES INC 2009 9.375% 1,000 1,000 1,125
SCOTTS COMPANY 2013 6.625% 1,500 1,532 1,538 (d)
SEAGATE TECHNOLOGY HOLDINGS 2009 8.000% 250 272 269
SHAW COMMUNICATIONS INC 2011 7.250% 750 784 811
SILGAN HOLDING 2013 6.750% 1,000 1,001 1,003 (d)
SINCLAIR BROADCAST GROUP INC. 2012 8.000% 500 529 540
SPX CORP 2011 6.250% 500 505 514
STANDARD PACIFIC CP 2008 6.500% 1,000 1,000 1,025
STANLEY WORKS 2007 3.500% 2,500 2,492 2,525
STARWOOD HOTELS AND RESORTS WO 2012 7.875% 500 556 563
STATION CASINOS INC. 2008 8.375% 1,500 1,509 1,609
SUSQUEHANNA MEDIA CO 2013 7.375% 1,000 1,039 1,043
TARGET CORP 2009 5.375% 6,150 6,386 6,592
TEKKAY SHIPPING CORP 2006 8.320% 1,500 1,505 1,575
TENET HEALTHCARE CORP. 2007 5.000% 2,500 2,484 2,419
TEREX CORPORATION 2014 7.375% 500 495 511 (d)
TEXTRON INC 2004 6.375% 3,000 2,998 3,078
THOMSON CORP 2009 4.250% 7,500 7,438 7,572
TIME WARNER ENTERTAINMENT CO 2006 6.125% 8,000 7,992 8,612
TOM BROWN 2013 7.250% 2 1,550 1,586
TOYOTA MOTOR CREDIT CORP 2008 2.875% 20,000 19,906 19,573
TRANS OCEAN CONTAINER CORP 2007 6.670% 4,124 4,117 4,454 (d)
TRANSDIGM INC 2011 8.375% 750 800 798
TRIAD HOSPITALS 2009 8.750% 500 542 542
F-41
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE I
Investments of Securities in Unaffiliated Issuers
At December 31, 2003
(Thousands)
Bal Held at 12/31/03 Principal Value at
Amt of Bonds & Notes or # of Cost 12/31/03
Issuer Name and Issuer Title Shares (Notes a & c) (Note a)
- ------------------------------------------ ------------------------------- --------------------- --------------
TTX COMPANY 2004 7.350% 4,000 4,000 4,170 (d)
UNION PACIFIC CORP 2004 5.840% 5,000 5,000 5,074
UNION PACIFIC CORP 2009 3.875% 6,000 5,985 5,974
UNION PACIFIC CORP 2010 3.625% 3,000 2,981 2,862
UNION TANK 2008 6.500% 2,754 2,752 2,931
UNITED AIR LINES INC 2010 7.032% 3,920 3,920 3,394
UNITED HEALTHCARE 2005 7.500% 6,000 5,991 6,587
UNITED RENTALS INC 2013 7.750% 1,250 1,243 1,288 (d)
UNITED STATES STEEL 2010 9.750% 1,500 1,590 1,703
USX CORP 2004 7.200% 10,000 10,007 10,057
VALERO ENERGY CORP 2007 6.125% 3,500 3,495 3,778
VALSPAR CORP 2007 6.000% 10,000 9,965 10,677
VIACOM INC 2007 5.625% 10,000 10,118 10,812
VIDEOTRON - LE GRPE LTD 2014 6.875% 1,000 1,022 1,030 (d)
VIN & SPIRIT AB - V&S 2008 3.570% 15,000 15,000 14,734 (d)
VIVENDI UNIVERSAL 2008 6.250% 1,070 1,102 1,132 (d)
WABTEC 2013 6.875% 1,000 1,017 1,036 (d)
WALMART STORES 2006 5.450% 10,000 10,175 10,766
WCI COMMUNITIES 2013 7.875% 1,810 1,860 1,910 (d)
WEYERHAEUSER CO 2008 5.950% 10,000 10,337 10,749
WYETH 2004 6.125% 5,000 5,000 5,045
WYETH 2006 6.500% 5,000 5,000 5,393
XTO ENERGY INC 2013 6.250% 1,500 1,542 1,583
---------------------------------------------------------------
Total - Corporate - Industrial 771,004 781,670 804,752
---------------------------------------------------------------
Corporate - Utility
AMERICAN ELECTRIC POWER 2006 6.125% 2,500 2,496 2,694
BELLSOUTH CORP 2010 7.750% 15,000 17,577 17,725
BRITISH TELECOMM/PP 2005 7.875% 12,500 13,046 13,775
CINCINNATI BELL INC 2013 7.250% 1,250 1,275 1,328 (d)
CINERGY CORP 2004 6.125% 4,000 4,000 4,048
CINGULAR WIRELESS LLC 2006 5.625% 5,000 4,989 5,363
CITIZENS COMMUNICATIONS COMPAN 2008 7.625% 2,591 3,026 2,837
CONSOLIDATED EDISON NY 2008 6.250% 6,000 6,642 6,592
CONSOLIDATED EDISON NY 2008 3.625% 9,000 8,974 8,974
CONSOLIDATED NAT GAS CO 2008 6.625% 5,700 6,372 6,388
CONSUMERS ENERGY 2008 6.375% 2,500 2,769 2,720
CONSUMERS ENERGY 2008 4.250% 9,500 9,805 9,576 (d)
DAYTON POWER & LIGHT CO 2011 6.875% 1,250 1,298 1,300
DEUTSCHE TELEKOM 2010 8.500% 8,250 10,058 9,975
DEUTSCHE TELEKOM 2008 3.875% 5,000 5,002 5,002
DTE ENERGY CO 2004 6.000% 10,000 9,997 10,163
DUKE ENERGY CORP. 2008 3.750% 4,500 4,501 4,516
DUKE ENERGY CORP. 2008 4.200% 10,000 10,083 10,044
ENERGY EAST CORP 2006 5.750% 7,500 7,474 8,005
FIRST ENERGY CORP 2006 5.500% 10,000 9,993 10,359
FPL FUELS INC 2006 2.340% 5,370 5,370 5,325 (d)
FPL FUELS INC 2006 2.340% 4,630 4,630 4,591 (d)
FRANCE TELECOM 2006 8.700% 2,850 2,956 3,183
KANSAS CITY POWER & LIGHT 2005 7.125% 10,000 10,212 10,893
KANSAS CITY POWER & LIGHT 2007 6.000% 4,000 3,994 4,274
MIDAMERICAN ENERGY HLDGS 2008 3.500% 9,500 9,487 9,340
NISOURCE INC 2006 3.200% 3,000 3,002 3,016
PACIFICORP 2008 4.300% 6,500 6,491 6,639
PECO ENERGY COMPANY 2008 3.500% 20,000 20,000 19,917
F-42
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE I
Investments of Securities in Unaffiliated Issuers
At December 31, 2003
(Thousands)
Bal Held at 12/31/03 Principal Value at
Amt of Bonds & Notes or # of Cost 12/31/03
Issuer Name and Issuer Title Shares (Notes a & c) (Note a)
- ------------------------------------------ ------------------------------- --------------------- --------------
PPL CORPORATION 2005 7.750% 3,000 2,999 3,191
PPL CORPORATION 2007 5.875% 6,135 6,759 6,695
PROGRESS ENERGY INC 2004 6.550% 2,500 2,500 2,519
PROGRESS ENERGY INC 2006 6.750% 2,100 2,099 2,277
PROGRESS ENERGY INC 2008 5.850% 10,000 9,997 10,756
PUB SERV CO OF COLORADO 2008 4.375% 1,830 1,863 1,877
PUGET ENERGY INC 2008 3.363% 3,500 3,500 3,391
SBC COMMUNICATIONS INC 2008 6.150% 7,000 7,817 7,697
SBC COMMUNICATIONS INC 2011 6.250% 7,000 7,645 7,663
SBC COMMUNICATIONS INC 2006 5.750% 5,000 5,088 5,365
SEMCO ENERGY INC 2008 7.125% 670 682 698
SOUTHWESTERN PUB SRV CO 2006 5.125% 7,000 6,989 7,385
SPRINT CAPITAL CORP 2008 6.125% 10,000 10,576 10,659
TAMPA ELECTRIC CO 2007 5.375% 3,785 4,101 4,023
TELEFONICA EUROPE 2005 7.350% 8,000 7,999 8,681
TELUS CORP ORD 2007 7.500% 6,500 7,086 7,274
TRANS CONTINENTAL GAS PIPELINE 2011 7.000% 500 541 533
VERIZON COMMUNICATIONS 2012 6.875% 4,000 4,422 4,426
VIRGINIA ELEC & PWR CO 2006 5.750% 4,675 4,667 5,006
VODAFONE GROUP PLC 2005 7.625% 10,000 10,070 10,658
VODAFONE GROUP PLC 2010 7.750% 4,400 5,344 5,209
VODAFONE GROUP PLC 2008 3.950% 3,500 3,543 3,556
WESTERN RESOURCES 2007 7.875% 2,448 2,713 2,736
WILLIAMS COMPANIES INC - THE 2007 7.550% 3,000 3,002 3,210
WISCONSIN ENERGY 2006 5.875% 10,000 9,976 10,661
WISCONSIN ENERGY 2008 5.500% 2,500 2,616 2,669
XCEL ENERGY 2010 4.750% 3,500 3,490 3,587
XCEL ENERGY 2008 3.400% 2,500 2,421 2,443
---------------------------------------------------------------
Total - Corporate - Utility 332,934 346,024 353,406
---------------------------------------------------------------
Total - Corporate Debt Securities 1,723,406 1,742,945 1,790,468
---------------------------------------------------------------
Total - BONDS AND NOTES 4,346,304 4,373,525 4,446,168
---------------------------------------------------------------
PREFERRED STOCK
Preferred Stock - Stated Maturity
Corporate - Industrial
BHP OPERATIONS 2006 6.760% 50 5,000 5,419 (d)
WHIRLPOOL CORP 2008 6.550% 9 902 929 (d)
---------------------------------------------------------------
Total - Corporate - Industrial 59 5,902 6,348
---------------------------------------------------------------
Corporate - Utility
APPALACHIAN POWER 2008 5.900% 5 468 454
APPALACHIAN POWER 2008 5.920% 6 561 562
CENTRAL ILLINOIS LIGHT COMPANY 2008 5.850% 35 3,499 3,514
INDIANA MICHIGAN PWR CO 2009 6.300% 52 5,224 5,421
INDIANA MICHIGAN PWR CO 2009 6.250% 20 2,000 2,065
INDIANA MICHIGAN PWR CO 2009 5.900% 33 3,186 3,302
LOUISVILLE GAS & ELECTRIC CO 2008 5.875% 11 1,139 1,154
OHIO POWER CO 2009 5.900% 36 3,567 3,632
POTOMAC ELECTRIC 2007 3.400% 146 7,279 7,351
RGS ENERGY GROUP INC 2009 6.600% 100 10,067 10,172
SAN DIEGO GAS & ELEC COMPANY 2008 1.763% 57 1,448 1,509
---------------------------------------------------------------
Total - Corporate - Utility 501 38,439 39,136
--------------------------------------------------------------
Total - Preferred Stock - Stated Maturity 559 44,340 45,484
--------------------------------------------------------------
Preferred Stock - Perpetual
Corporate - Finance
CITIBANK-NEW YORK NY 0.000% 100 10,000 10,100
CITIGROUP INC 5.860% 150 7,782 7,952
---------------------------------------------------------------
Total - Corporate - Finance 250 17,782 18,052
---------------------------------------------------------------
Total - Preferred Stock - Perpetual 250 17,782 18,052
---------------------------------------------------------------
Total - PREFERRED STOCK 809 62,122 63,536
--------------------------------------------------------------
F-43
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE I
Investments of Securities in Unaffiliated Issuers
At December 31, 2003
(Thousands)
Bal Held at 12/31/03 Principal Value at
Amt of Bonds & Notes or # of Cost 12/31/03
Issuer Name and Issuer Title Shares (Notes a & c) (Note a)
- ------------------------------------------ ------------------------------- --------------------- --------------
COMMON STOCK
Common Stock
Corporate - Industrial
AMR CORP 0.000% 2 0 21
Total - Corporate - Industrial 2 0 21
---------------------------------------------------------------
Total - Common Stock 2 0 21
---------------------------------------------------------------
Total - COMMON STOCK 2 0 21
---------------------------------------------------------------
TOTAL Investments in Securities of Unaffiliated Issuers 4,347,115 4,435,647 4,509,726
---------------------------------------------------------------
NOTES:
a) See Notes 1 and 3 to the financial statements regarding determination of
cost and fair values. All Available-for-Sale securities are carried at fair
value on the balance sheet.
b) In the absence of market quotations, securities are valued by AmEx
Certificate Company at fair value.
c) Aggregate cost of investment in securities of unaffiliated issuers for
federal income tax purposes was $4,494,887.
d) Securities acquired in private negotiation which may require registration
under federal securities law if they were to be publicly sold.
e) Non-income producing securities.
F-44
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE II
Investments in and Advances to Affiliates and Income Thereon
December 31, 2003, 2002 and 2001
(Thousands)
Balance December 31, 2003
------------------------------------------
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 ($45) ($45) $0
=================
Investors Syndicate Development Corporation:
Other.......................................... $0 4 4 0
=================
Other Affiliates (as defined in Sec. 2(a)(3) of the
Investment Company Act of 1940)...................... $0 0 0 0
================= ---------- ----------- --------------
Total affiliates................................. ($41) ($41) $0
========== =========== ==============
Balance December 31, 2002
------------------------------------------
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 (467) (467) 0
=================
Other Affiliates (as defined in Sec. 2(a)(3) of the
Investment Company Act of 1940)...................... $0 0 0 0
================= ---------- ----------- --------------
Total affiliates................................. ($45) ($45) $0
========== =========== ==============
F-45
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE II
Investments in and Advances to Affiliates and Income Thereon
December 31, 2003, 2002 and 2001
(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
========== =========== ==============
NOTES:
(a) The aggregate cost for federal income tax purposes was ($41), ($45), and
$422 at December 31, 2003, 2002, and 2001, respectively, 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.
F-46
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE III
Mortgage Loans on Real Estate and Interest
Earned on Mortgages
Year Ended December 31, 2003
(Thousands)
Mortgage loans on real estate at Part 2 - Interest
Part 1 - end of period earned on mortgages
-------- --------------------------------------- ---------------------
Amount of principal
unpaid at end of
period
--------------------
Average
gross
rate of
Carrying Interest interest
amount of Subject Amount due and on
mortgages to of accrued mortgages
Number Prior (c),(g), delinquent mortgages at end of held at end
Description (a) of liens (h) and interest being period of period
Loan No. Mortgagor Property Location loans (b) (i) Total (d) foreclosed (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 0 0 0 0 0 0.000%
$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 1 255 255 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%
21-47139 Treasure's Island Inc. Eagan, MN 1 1,170 1,170 0 0 8.25000
21-47157 John A. Belanich Tampa, FL 1 2,676 2,676 0 0 7.65000
21-47164 Center Hol Hamilton, OH 1 3,117 5,117 0 0 6.00000
21-47167 Wilder Corp of Delaware Ruskin, FL 1 5,649 5,649 0 0 7.44000
21-47168 Wilder Corp of Delaware Riverview, FL 1 3,028 3,028 0 0 7.44000
21-47173 Cinram Associates Fairfield, NJ 1 3,560 3,560 0 0 7.26000
21-47186 Mack Edison Company Edison, NJ 1 5,408 5,408 0 0 6.85000
21-47187 Industrial Development
Association Mebane, NC 1 2,603 2,603 0 0 7.22000
21-47195 Tipotex Inc. Pharr, TX 1 1,975 1,975 0 0 3.80000
21-47196 Tropic Star Pharr, TX 1 4,419 4,419 0 0 3.80000
21-47197 Winter Ranch Alamo, TX 1 1,012 1,012 0 0 3.80000
21-47204 Fort Walton Mary Esther, FL 1 2,669 2,669 0 0 7.04000
21-47205 Kavanagh Tucson, AZ 1 3,578 3,578 0 0 7.05000
21-47206 Artrisco Albuquerque, NM 1 3,761 4,761 0 0 6.00000
21-47209 Fountain Lake Brandeton, FL 1 5,289 5,289 0 0 6.40000
21-47210 Orion West Haven, CT 1 3,767 3,767 0 0 6.60000
21-47214 West Health Inc. Plymouth, MN 1 9,991 9,991 0 0 7.45000
21-47215 Invespro Urbandale, IA 1 3,014 3,014 0 0 6.25000
21-47216 Invespro Urbandale, IA 1 2,372 2,372 0 0 6.25000
21-47223 Westwood Plaza Houston, TX 1 5,494 5,494 0 0 6.15000
21-47224 Custer Office Plano, TX 1 2,531 2,531 0 0 6.00000
21-47225 Valley Mining Eagan, MN 1 1,386 1,386 0 0 7.21000
21-47226 Jake's LP Austin, TX 1 2,509 2,509 0 0 5.50000
21-47228 Lafayette Square Bridgeport, CT 1 3,941 3,941 0 0 7.14000
21-47230 Wilcrest Gree Houston, TX 1 1,870 1,870 0 0 7.08000
21-47232 DHIR Group LLC Milwaukee, WI 1 3,854 3,854 0 0 7.40000
21-47233 Capital Plaza Jefferson City, MO 1 1,884 1,884 0 0 7.15000
21-47234 Southwest Medical Littleton, CO 1 2,992 2,992 0 0 7.18000
21-47235 2507 & 2473 Assc Southport, CT 1 2,500 2,500 0 0 7.02000
21-47237 Abmar Valley Roanoke, VA 1 1,436 1,436 0 0 5.25000
21-47238 Cicero Place Cicero, IN 1 3,150 3,150 0 0 7.00000
21-47240 Crystal Plaza Baltimore, MD 1 3,640 3,640 0 0 7.02000
21-47241 Pal, Inc Sioux Falls, SD 1 991 991 0 0 7.05000
21-47242 Northpoint AT San Antonio, TX 1 4,322 4,322 0 0 7.33000
21-47243 Pam-Joy Realty Chesapeake. VA 1 2,780 2,780 0 0 6.96000
21-47245 Tide Mill Southport, CT 1 2,270 2,270 0 0 6.98000
21-47246 JLC, IX PF LTD Dallas, TX 1 892 892 0 0 7.01000
21-47248 HMJ Moorehead, MN 1 5,242 5,242 0 0 6.96000
21-47249 MIDEB Ventura, CA 1 4,625 4,625 0 0 6.75000
21-47250 Thomas Ribis Alexandria, VA 1 2,534 2,534 0 0 6.90000
21-47251 Arcadia Villa Phoenix, AZ 1 2,596 2,596 0 0 6.80000
21-47252 Broken Arrow Broken Arrow, OK 1 3,098 3,098 0 0 6.80000
F-47
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE III
Mortgage Loans on Real Estate and Interest
Earned on Mortgages
Year Ended December 31, 2003
(Thousands)
Mortgage loans on real estate at Part 2 - Interest
Part 1 - end of period earned on mortgages
-------- --------------------------------------- ---------------------
Amount of principal
unpaid at end of
period
--------------------
Average
gross
rate of
Carrying Interest interest
amount of Subject Amount due and on
mortgages to of accrued mortgages
Number Prior (c),(g), delinquent mortgages at end of held at end
Description (a) of liens (h) and interest being period of period
Loan No. Mortgagor Property Location loans (b) (i) Total (d) foreclosed (e) (f)
- ----------------------------------- ------------------ ------ ------ --------- ------ ----------- ---------- ---------- -----------
21-47253 Palo Verde Plaxa Phoenix, AZ 1 1,549 1,549 0 0 6.80000
21-47254 Village S. Tulsa, OK 1 3,234 3,234 0 0 6.80000
21-47255 Gaughan Forest Lake/
Stillwater, MN 1 4,777 4,777 0 0 6.83000
21-47256 Fremont Apts Rapid City, SD 1 952 952 0 0 6.75000
21-47257 American Bank Plaza Corpus Christi, TX 1 6,601 6,601 0 0 6.90000
21-47259 Anza Plaza Santa Clarita, CA 1 1,783 1,783 0 0 6.95000
21-47260 Eisenhower 3 Ann Arbor, MI 1 2,665 2,665 0 0 6.98000
21-47261 KKMP Properties Bloomington, MN 1 1,030 1,030 0 0 7.06000
21-47262 312 Third Street Fargo, ND 1 5,351 5,351 0 0 6.90000
21-47263 G.O.L.D Columbus, OH 1 2,028 2,028 0 0 6.95000
21-47264 Esnet Properties Orem, UT 1 1,807 1,807 0 0 6.81000
21-47265 Eaglecreek A Lakewood, CO 1 2,090 2,090 0 0 6.77000
21-47266 Independence Clarkston, MI 1 3,841 3,841 0 0 6.89000
21-47267 Blairhill LLC Charlotte, NC 1 1,284 1,284 0 0 6.91000
21-47268 Lemans Limited Seebring, FL 1 5,196 5,196 0 0 6.85000
21-47269 Hampton Inn Spokane, WA 1 3,726 3,726 0 0 7.15000
21-47270 Brookhollow-2 Houston, TX 1 2,591 2,591 0 0 6.80000
21-47271 Wilsonville Wilsonville, OR 1 1,605 1,605 0 0 6.85000
21-47272 Southeast Com Aurora, CO 1 1,824 1,824 0 0 6.44000
21-47273 Sears Bldg Rapid City, SD 1 777 777 0 0 6.85000
21-47274 Edison Towson, MD 1 1,092 1,092 0 0 6.85000
21-47275 Colorado & SA Colorado
Springs, CO 1 1,830 1,830 0 0 6.55000
21-47277 Alvernon Place Tucson, AZ 1 2,092 2,092 0 0 7.00000
21-47278 VL Grand Rdge Kennewick, WA 1 6,179 6,179 0 0 6.75000
21-47279 Daniel G Chetek, WI 1 1,920 1,920 0 0 7.25000
21-47281 Cleveland Shaker Heights, OH 1 2,213 2,213 0 0 7.00000
21-47282 Cary Bldg LP Springfield, VA 1 2,051 2,051 0 0 6.85000
21-47285 Equity One In Fort Meyers, FL 1 3,898 3,898 0 0 6.75000
21-47286 Silvercrest Las Vegas, NV 1 2,398 2,398 0 0 7.00000
21-47287 ML LTD Moen Rogers, MN 1 5,230 5,230 0 0 7.30000
21-47288 Hilde Plymouth, MN 1 1,827 1,827 0 0 6.85000
21-47289 Camp Morrison Newport News, VA 1 2,358 2,358 0 0 6.90000
21-47290 Oakcliff Doraville, GA 1 2,434 2,434 0 0 7.00000
21-47291 Truway Liverpool, NY 1 2,838 2,838 0 0 7.00000
21-47292 Desert Inn Las Vegas, NV 1 7,601 7,601 0 0 6.84000
21-47293 Julantru Corvallis, OR 1 4,105 4,105 0 0 6.75000
21-47294 Carolace Emb. Hope Mills, NC 1 1,417 1,417 0 0 7.00000
21-47295 Arabica, LLC Concord, OH 1 1,108 1,108 0 0 7.00000
21-47296 Viviani Painesville, OH 1 1,010 1,010 0 0 7.00000
21-47297 Viviani Concord, OH 1 1,699 1,699 0 0 7.00000
21-47298 Shiland Hills Rock Hill, SC 1 795 795 0 0 7.25000
21-47299 Crest Escondido, CA 1 2,113 2,113 0 0 7.00000
21-47303 1304 15th Santa Monica, CA 1 5,043 5,043 0 0 3.21375
21-47304 Memorial Six Houston, TX 1 6,951 6,951 0 0 6.40000
21-47306 Falls Towne FairviewPrk/
Cuyahoga Falls, OH 1 4,404 4,404 0 0 3.23000
21-47308 Wilder Clearwater, FL 1 6,065 6,065 0 0 6.18000
21-47309 Center Point III Arlington, TX 1 3,864 3,864 0 0 6.48000
21-47310 Hurley-Howe Sacramento, CA 1 5,580 5,580 0 0 3.11938
21-47311 Hurley-Howe Sacramento, CA 1 3,622 3,622 0 0 3.11938
21-47312 80 Central Street Boxborough, MA 1 7,691 7,691 0 0 3.36375
21-47313 J P Spec Orchard Park, NY 1 4,197 4,197 0 0 3.23000
21-47314 Gateway Bismark, ND 1 4,904 4,904 0 0 3.26938
21-47315 Deerbrook Humble, TX 1 6,796 6,796 0 0 3.36938
21-47316 Hudson Mill Hudson, MA 1 1,481 1,481 0 0 3.38000
21-47317 Oak Lawn Assoc Oak Lawn, IL 1 1,865 1,865 0 0 5.00000
21-47318 Pacific N'Wst Silverdale, WA 1 5,026 5,026 0 0 4.41000
21-47319 Ridc Plaza Pittsburgh, PA 1 1,993 1,993 0 0 4.93000
21-47320 Vander Hoek Kirland, WA 1 3,293 3,293 0 0 4.66000
21-47321 Thirty Fifth Clinton
Township, MI 1 7,000 7,000 0 0 3.81000
21-47323 Greit Bay Vie Alameda, CA 1 6,200 6,200 0 0 3.27000
--- --------- ------- -------- -------- -----------
Total Other 102 334,489 337,489 0 0 6.108%
---- --------- ------- -------- -------- -----------
Unallocated Reserve for Losses 3,536
---------
Total First Mortgage Loans on Real Estate 102 330,953 337,489 $0 $0 6.108%
==== ========= ======= ======== ======== ==========
F-48
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE III
Mortgage Loans on Real Estate
Year Ended December 31, 2003
(Thousands)
Part 3 - Location of mortgaged properties
- -----------------------------------------
(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 4 9,815 9,815 0 0
California 7 28,965 28,965 0 0
Colorado 4 8,738 8,738 0 0
Connecticut 4 12,477 12,477 0 0
Florida 8 34,469 34,469 0 0
Georgia 1 2,434 2,434 0 0
Iowa 2 5,386 5,386 0 0
Ilinois 1 1,865 1,865 0 0
Indiana 1 3,150 3,150 0 0
Massachusetts 2 9,173 9,173 0 0
Maryland 2 4,732 4,732 0 0
Michigan 3 13,506 13,506 0 0
Minnesota 8 30,652 30,652 0 0
Missouri 1 1,884 1,884 0 0
Nevada 2 9,999 9,999 0 0
New Jersey 2 8,968 8,968 0 0
New Mexico 1 3,761 4,761 0 0
New York 2 7,035 7,035 0 0
North Carolina 4 6,412 6,412 0 0
North Dakota 2 10,255 10,255 0 0
Ohio 6 14,473 16,473 0 0
Oklahoma 2 6,332 6,332 0 0
Oregon 2 5,710 5,710 0 0
Pennsylvania 1 1,993 1,993 0 0
South Carolina 1 795 795 0 0
South Dakota 3 2,719 2,719 0 0
Texas 14 51,826 51,826 0 0
Utah 1 1,807 1,807 0 0
Virginia 5 11,159 11,159 0 0
Washington 4 18,225 18,225 0 0
Wisconsin 2 5,774 5,774 0 0
--- ------- ------- ------ ------
Subtotal 102 334,489 337,489 0 0
Unallocated Reserve
for Losses 3,536
-----
Total 102 $330,953 $337,489 $0 $0
=== ======== ======== ====== ======
F-49
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE III
Mortgage Loans on Real Estate and Interest
Earned on Mortgages
Year Ended December 31, 2003
(Thousands)
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 AECC 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, 2003 are shown by type and class of
loan.
The average gross interest rates on mortgage loans held at December 31,
2003, 2002, and 2001 are summarized as follows:
2003 2002 2001
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 6.108 6.613 6.978
-------- -------- --------
Combined average 6.108% 6.613% 6.978%
======== ======== ========
(g) Following is a reconciliation of the carrying amount of mortgage loans for
the years ended December 31, 2003, 2002 and 2001.
2003 2002 2001
Balance at beginning of period $338,924 $343,434 $358,575
New loans acquired:
Nonaffiliated companies 43,030 45,128 16,356
Reserve for loss reversal 0 0 0
-------- -------- --------
Total additions 43,030 45,128 16,356
-------- -------- --------
381,954 388,562 374,931
-------- -------- --------
Deductions during period:
Collections of principal 47,688 48,349 30,306
Reserve for loss 3,313 1,289 1,191
-------- -------- --------
Total deductions 51,001 49,638 31,497
-------- -------- --------
Balance at end of period $330,953 $338,924 $343,434
======== ======== ========
(h) The aggregate cost of mortgage loans for federal income tax purposes at
December 31, 2003 was $337,489.
(i) At December 31, 2003, an unallocated reserve for loss on first mortgage
loans of $3,536 is recorded.
F-50
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE V
Qualified Assets on Deposit
December 31, 2003
(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 $50 $0 $0 $0 $50
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 114 0 0 0 114
-------------- -------------- ----------- ----------- -------------
Total deposits with states or their
depositories to meet requirements of
statutes and agreements 363 0 0 0 363
Central depository - American
Express Trust Company 4,537,526 62,122 330,953 73,953 5,004,554
-------------- -------------- ----------- ----------- -------------
Total $4,537,889 $62,122 $330,953 $73,953 $5,004,917
============== ============== =========== =========== =============
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.
F-51
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE VI
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2003
(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)
----------- -------------- ---------- ----------- ----------- ---------- ----------- ----------
Installment certificates:
Reserves to mature:
Series 15, includes extended maturities
15, " " " 0 0 0 0 0 0
20, " " " 0 0 0 0 0 0
15A, " " " 0 0 0 0 0 0
22A, " " " 4.00 367 8,787 7,533 205 77 67
I-76, " " " 4.00 327 7,319 5,130 169 123 9
Reserve Plus Flex Payment 70 670 314 0 27 2
IC-Q-Installment 29 406 99 0 14 1
IC-Q-Ins 205 2,431 1,072 0 126 6
IC-Q-Ins Emp 2 23 16 0 1 0
IC-I 14,947 244,184 120,405 0 22,496 2,382
IC-I-Emp 87 1,290 1,096 0 314 24
Inst 9,056 0 31,048 0 16,004 234
Inst-E 51 0 134 0 81 2
RP-Q-Installment 59 875 536 0 10 3
RP-Q-Flexible Payment 5 65 49 0 0 0
RP-Q-Ins 6 278 56 0 2 0
RP-Q-Ins Emp 0 0 1 0 0 0
RP-I 69 1,706 932 0 58 15
RP-I-EMP 0 0 0 0 0 0
Inst-R & RP I95 165 12,826 385 0 480 3
Inst-R-E 4 1,602 18 0 1 0
---------- ----------- ----------- ----------- ----------- -----------
Total 25,449 282,462 168,824 374 39,814 2,748
---------- ----------- ----------- ----------- ----------- -----------
Payments made in advance of certificate
year requirements and accrued interest
thereon:
15, includes ext maturities 2 0 0 0 0 0 0
20, " " " 2 0 0 (1) 0 0 0
15A, " " " 3 0 0 1 0 0 0
22A, " " " 3 0 0 227 5 17 3
I-76, " " " 3.5 0 0 337 12 18 1
---------- ----------- ----------- ----------- ----------- -----------
Total 0 0 564 17 35 4
---------- ----------- ----------- ----------- ----------- -----------
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
15, " " " 0 0 0 0 0 0
20, " " " 0 0 0 0 0 0
15A, " " " 0 0 0 0 0 0
22A, " " " 182 196 1,254 289 7,076 6,250
I-76, " " " 0 341 187 294 6,581 4,903
Reserve Plus Flex Payment 90 73 22 24 249 158
IC-Q-Installment 9 35 0 21 328 70
IC-Q-Ins 148 216 0 156 1,813 840
IC-Q-Ins Emp 0 0 0 2 23 17
IC-I 15,111 37,618 0 10,841 175,508 92,554
IC-I-Emp 52 491 0 70 1,092 891
Inst 0 8,723 0 10,112 0 38,563
Inst-E 0 53 0 55 0 164
RP-Q-Installment 143 132 0 39 559 274
RP-Q-Flexible Payment 0 1 0 5 65 48
RP-Q-Ins 0 15 0 5 272 43
RP-Q-Ins Emp 0 0 0 0 0 1
RP-I 136 473 0 32 610 396
RP-I-EMP 0 0 0 0 0 0
Inst-R & RP I95 0 88 0 246 30,766 780
Inst-R-E 0 9 0 4 260 10
--------- ----------- --------- --------- ----------- -----------
Total 15,871 48,464 1,463 22,195 225,202 145,962
--------- ----------- --------- --------- ----------- -----------
Payments made in advance of certificate
year requirements and accrued interest
thereon:
15, includes ext maturities 0 0 0 0 0 0
20, " " " 0 0 0 0 0 (1)
15A, " " " 0 0 0 0 0 1
22A, " " " 2 3 84 0 0 163
I-76, " " " 0 22 10 0 0 336
--------- ----------- --------- --------- ----------- -----------
Total 2 25 94 0 0 499
--------- ----------- --------- --------- ----------- -----------
F-52
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE VI
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2003
(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)
----------- -------------- ---------- ----------- ----------- ---------- ----------- ----------
Additional credits and accrued interest
thereon:
" 15, includes ext mat 2.5 0 0 0 0 0 0
" 20, " " " 2.5 0 0 0 0 0 0
" 15A, " " " 3 0 0 (1) 0 0 0
" 22A, " " " 3 0 0 1,846 48 0 37
" I-76, " " " 3.5 0 0 1,223 40 0 19
" Res Plus Flex Pay 0 0 0 2 0 0
" IC-Q-Installment 0 0 (1) 1 0 0
" IC-Q-Ins 0 0 0 6 0 0
" IC-Q-Ins Emp 0 0 0 0 0 0
" IC-I 0 0 121 2,342 0 0
" IC-I-Emp 0 0 1 23 0 0
" Inst 0 0 11 235 0 0
" Inst-E 0 0 0 2 0 0
" RP-Q-Installment 0 0 0 3 0 0
" RP-Q-Flexible Pay 0 0 0 0 0 0
" RP-Q-Ins 0 0 0 0 0 0
" RP-Q-Ins Emp 0 0 0 0 0 0
" RP-I 0 0 1 14 0 0
" RP-I-EMP 0 0 0 0 0 0
" Inst-R 0 0 0 3 0 0
" Inst-R-E 0 0 0 0 0 0
0 0 0 0 0 0
---------- ----------- ----------- ----------- ----------- -----------
Total 0 0 3,201 2,719 0 56
---------- ----------- ----------- ----------- ----------- -----------
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
----------- ------------ ------------ ---------- ---------- ------------ ----------
Additional credits and accrued interest
thereon:
" 15, includes ext mat 0 0 0 0 0 0
" 20, " " " 0 0 0 0 0 0
" 15A, " " " 0 0 0 0 0 (1)
" 22A, " " " 51 48 336 0 0 1,496
" I-76, " " " 0 82 44 0 0 1,156
" Res Plus Flex Pay 0 0 2 0 0 0
" IC-Q-Installment 0 0 1 0 0 (1)
" IC-Q-Ins 0 0 6 0 0 0
" IC-Q-Ins Emp 0 0 0 0 0 0
" IC-I 0 0 2,386 0 0 77
" IC-I-Emp 0 0 24 0 0 0
" Inst 0 0 235 0 0 11
" Inst-E 0 0 2 0 0 0
" RP-Q-Installment 0 0 3 0 0 0
" RP-Q-Flexible Pay 0 0 0 0 0 0
" RP-Q-Ins 0 0 0 0 0 0
" RP-Q-Ins Emp 0 0 0 0 0 0
" RP-I 0 0 15 0 0 0
" RP-I-EMP 0 0 0 0 0 0
" Inst-R 0 0 3 0 0 0
" Inst-R-E 0 0 0 0 0 0
0 0 0 0 0 0
--------- ----------- --------- --------- ----------- -----------
Total 51 130 3,057 0 0 2,738
--------- ----------- --------- --------- ----------- -----------
F-53
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE VI
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2003
(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)
----------- -------------- ---------- ----------- ----------- ---------- ----------- ----------
Res for accrued 3rd year 2113 -
Installment Prod only 0 0 891 608 (662) 0
Res for accrued 6th year 2114 0 0 0 0 0 0
Acc int - default I-76 2003/2025 3.5 0 0 1 2 0 0
Res for add'l credits to be allowed 0 0 0 0 0 0
Installment Cert-Special Add'l 0 0 0 0 0 0
Credits I-76 (2105) 0 0 0 0 0 0
Accrued for add'l credits to 0 0 0 0 0 0
be allowed at next anni (2102) 0 0 29 50 0 0
Reserve for death & disab (2111) 0 0 0 0 0 0
Res for reconversion (2104) 0 0 33 0 0 0
---------- ----------- ----------- ----------- ----------- -----------
Total 954 660 (662) 0
---------- ----------- ----------- ----------- ----------- -----------
Total installment certificates 25,449 282,462 173,543 3,770 39,187 2,808
---------- ----------- ----------- ----------- ----------- -----------
Fully paid certificates:
Single-Payment certificates:
SP 74 (C2740-10 Prod 40) 3.5 0 0 0 0 0 0
SP 75 - 50 3.5 0 0 0 0 0 0
SP 76 - 60 3.5 0 0 0 0 0 0
SP 77 - 70 3.5 0 0 0 0 0 0
SP 78 - 80 3.5 0 0 0 0 0 0
SP 79 - 90 3.5 2 15 15 0 0 0
SP 80 - 100 3.5 0 0 2 0 0 0
SP 81A - 110 3.5 2 20 20 0 0 0
SP 82A - 111 3.5 5 61 61 0 0 0
SP 82B - 112 3.5 162 1,370 1,363 6 0 0
SP 83A - 113 3.5 48 373 368 5 0 0
SP 83B - 114 3.5 110 1,115 1,079 32 0 0
IC-2-84 - 115, 116,117,118,119 3.5 367 3,685 3,451 114 0 0
IC-2-85 - 120,121,122,123.124,125,
126,127,128,129,130 3.5 184 2,475 2,569 0 0 87
IC-2-86 - 131 3.5 101 1,721 1,409 0 0 47
IC-2-87 - 132 3.5 139 2,203 1,943 0 0 67
IC-2-88 - 133 3.5 264 4,114 3,727 0 0 125
Reserve Plus Single Payment - 150 166 809 1,399 0 0 (10)
Cash Reserve Single Payment - 160 19 139 151 0 0 0
IC-Flexible Savings (Variable Term) -
165 98,380 1,279,720 1,369,229 0 742,256 40,823
IC-Flexible Savings Emp (VT) - 166 627 8,455 11,081 0 459 292
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
----------- ------------ ------------ ---------- ---------- ------------ ----------
Res for accrued 3rd year 2113 -
Installment Prod only 0 0 0 0 0 837
Res for accrued 6th year 2114 0 0 0 0 0 0
Acc int - default I-76 2003/2025 0 0 3 0 0 0
Res for add'l credits to be allowed 0 0 0 0 0 0
Installment Cert-Special Add'l 0 0 0 0 0 0
Credits I-76 (2105) 0 0 0 0 0 0
Accrued for add'l credits to 0 0 0 0 0 0
be allowed at next anni (2102) 0 0 54 0 0 25
Reserve for death & disab (2111) 0 0 0 0 0 0
Res for reconversion (2104) (3) 0 0 0 0 36
--------- ----------- --------- --------- ----------- -----------
Total (3) 0 57 0 0 898
--------- ----------- --------- --------- ----------- -----------
Total installment certificates 15,921 48,619 4,671 22,195 225,202 150,097
--------- ----------- --------- --------- ----------- -----------
Fully paid certificates:
Single-Payment certificates:
SP 74 (C2740-10 Prod 40) 0 0 0 0 0 0
SP 75 - 50 0 0 0 0 0 0
SP 76 - 60 0 0 0 0 0 0
SP 77 - 70 0 0 0 0 0 0
SP 78 - 80 0 0 0 0 0 0
SP 79 - 90 0 0 0 2 15 15
SP 80 - 100 0 0 0 0 0 2
SP 81A - 110 0 0 10 1 10 10
SP 82A - 111 2 0 37 2 22 22
SP 82B - 112 665 66 609 4 30 29
SP 83A - 113 242 23 108 0 0 0
SP 83B - 114 416 105 166 48 427 425
IC-2-84 - 115, 116,117,118,119 0 304 0 336 3,364 3,262
IC-2-85 - 120,121,122,123.124,125,
126,127,128,129,130 0 286 0 163 2,249 2,370
IC-2-86 - 131 0 147 0 95 1,599 1,310
IC-2-87 - 132 0 132 0 126 2,082 1,878
IC-2-88 - 133 0 249 0 244 3,822 3,603
Reserve Plus Single Payment - 150 871 93 25 43 239 400
Cash Reserve Single Payment - 160 0 1 0 19 139 150
IC-Flexible Savings (Variable Term) -
165 0 648,088 0 114,974 1,407,686 1,504,219
IC-Flexible Savings Emp (VT) - 166 0 1,727 0 554 7,711 10,104
F-54
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE VI
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2003
(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-Preferred Investors - 250 25 23,376 23,775 0 17,602 182
IC-Investors - 201, 202,203 579 981,601 1,041,387 0 889,763 12,449
IC-Special Deposits U.K. - 204 39 51,050 68,774 0 13,911 587
IC-Special Deposits HONG KONG - 205 3 11,354 0 0 0 0
IC-1-84 - 170, 171,172,173,174 29 243 232 0 0 8
Cash Reserve Variable Payment - 660 200 831 1,215 0 48 1
Cash Reserve Variable PMT-3mo. - 662 31,103 106,423 112,739 0 97,215 415
IC-Future Value - 155 1,129 12,589 12,589 0 0 0
IC-Future Value Emp - 156 23 179 178 0 0 0
IC-Stock Market - 180 86,992 385,066 432,653 0 157,714 11,697
IC-MSC - 181 21,790 301,876 310,332 0 93,366 7,244
IC-EISC - 185 20 2,731 2,731 0 1,965 61
IC-AEBI Stock Market - 301, 302,303,
304,305 138 52,407 53,242 0 205,644 2,009
---------- ----------- ----------- ----------- ----------- -----------
Total 242,646 3,236,001 3,457,714 157 2,219,943 76,084
---------- ----------- ----------- ----------- ----------- -----------
Additional credits and accrued interest
thereon:
SP 74 (2030/1 4022) 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 0 0 15 0 0 0
SP 80 3.5 0 0 1 0 0 0
SP 81A 3.5 0 0 18 0 0 0
SP 82A 3.5 0 0 51 0 0 0
SP 82B 3.5 0 0 995 4 0 0
SP 83A 3.5 0 0 216 3 0 0
SP 83B 3.5 0 0 603 18 0 0
IC-2-84 3.5 0 0 1,923 64 0 0
IC-2-85 3.5 0 0 40 86 0 0
IC-2-86 3.5 0 0 25 47 0 0
IC-2-87 3.5 0 0 36 67 0 0
IC-2-88 3.5 0 0 71 127 0 0
Reserve Plus SP 2004-4061 0 0 0 1 0 0
Cash Reserve SP 0 0 0 0 0 0
IC-Flexible Savings 0 0 1,888 44,205 0 0
IC-Preferred Investors 0 0 16 177 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-Preferred Investors - 250 0 27,803 0 17 13,607 13,757
IC-Investors - 201, 202,203 0 982,664 0 473 925,975 960,935
IC-Special Deposits U.K. - 204 0 39,382 0 31 41,218 43,891
IC-Special Deposits HONG KONG - 205 0 0 0 0 0 0
IC-1-84 - 170, 171,172,173,174 0 31 0 27 233 210
Cash Reserve Variable Payment - 660 0 310 0 166 645 953
Cash Reserve Variable PMT-3mo. - 662 0 106,678 0 29,506 98,723 103,690
IC-Future Value - 155 2,364 743 0 810 9,481 9,481
IC-Future Value Emp - 156 52 1 0 17 126 125
IC-Stock Market - 180 0 129,443 0 82,167 424,970 472,621
IC-MSC - 181 0 75,815 0 22,488 322,900 335,128
IC-EISC - 185 0 2,285 0 34 2,468 2,472
IC-AEBI Stock Market - 301, 302,303,
304,305 0 15,563 0 562 243,486 245,331
--------- ----------- --------- --------- ----------- -----------
Total 4,612 2,031,939 955 252,909 3,513,227 3,716,392
--------- ----------- --------- --------- ----------- -----------
Additional credits and accrued interest
thereon:
SP 74 (2030/1 4022) 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 0 0 15
SP 80 0 0 0 0 0 1
SP 81A 0 0 9 0 0 9
SP 82A 2 0 31 0 0 19
SP 82B 503 51 422 0 0 23
SP 83A 145 14 60 0 0 0
SP 83B 227 61 86 0 0 248
IC-2-84 0 176 0 0 0 1,811
IC-2-85 0 3 87 0 0 35
IC-2-86 0 1 47 0 0 24
IC-2-87 0 2 66 0 0 35
IC-2-88 0 4 125 0 0 69
Reserve Plus SP 2004-4061 0 0 1 0 0 0
Cash Reserve SP 0 0 0 0 0 0
IC-Flexible Savings 0 3,663 40,843 0 0 1,587
IC-Preferred Investors 0 5 182 0 0 6
F-55
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE VI
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2003
(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-FS-EMP 0 0 18 356 0 0
IC-Investors 0 0 592 13,646 0 0
IC-Special Deposits U.K. 0 0 36 590 0 0
IC-Special Deposits HONG KONG 0 0 0 0 0 0
IC-1-84 - 2013-4061 0 0 4 7 0 0
Cash Reserve VP 2004-4061 0 0 0 1 0 0
Cash Reserve Variable Payment-3mo. 0 0 229 676 (291) 0
IC-Future Value 0 0 10,198 1,466 0 0
IC-Future Value Emp 0 0 152 23 0 0
IC-Stk Mkt, 2004/16/31-4000/16 0 0 588 989 0 0
IC-MSC 0 0 124 745 0 0
IC - EISC 0 0 1 6 0 0
IC-AEBI Stk Mkt 2004/31/19-4000/16 0 0 101 564 0 0
---------- ----------- ----------- ----------- ----------- -----------
Total 0 0 17,941 63,868 (291) 0
---------- ----------- ----------- ----------- ----------- -----------
Accrued for additional credits to be
allowed at next anniversaries:
SP 74 (2102-4070) 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 0 0 0
SP 80 0 0 0 0 0 0
SP 81A 0 0 (1) 0 0 0
SP 82A 0 0 0 0 0 0
SP 82B 0 0 1 0 0 0
SP 83A 0 0 0 0 0 0
SP 83B 0 0 (1) 0 0 0
IC-2-84 - 2019-4061 0 0 1 1 0 0
IC-2-85 0 0 0 0 0 0
IC-2-86 0 0 1 0 0 0
IC-2-87 0 0 0 0 0 0
IC-2-88 0 0 (1) 0 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-FS-EMP 0 70 292 0 0 12
IC-Investors 0 1,322 12,449 0 0 468
IC-Special Deposits U.K. 0 17 587 0 0 22
IC-Special Deposits HONG KONG 0 0 0 0 0 0
IC-1-84 - 2013-4061 0 1 7 0 0 3
Cash Reserve VP 2004-4061 0 0 1 0 0 0
Cash Reserve Variable Payment-3mo. 0 6 415 0 0 192
IC-Future Value 2,002 622 0 0 0 9,040
IC-Future Value Emp 37 1 0 0 0 137
IC-Stk Mkt, 2004/16/31-4000/16 0 90 980 0 0 506
IC-MSC 0 13 714 0 0 143
IC - EISC 0 0 6 0 0 1
IC-AEBI Stk Mkt 2004/31/19-4000/16 0 18 363 0 0 284
--------- ----------- --------- --------- ----------- -----------
Total 2,916 6,140 57,773 0 0 14,689
--------- ----------- --------- --------- ----------- -----------
Accrued for additional credits to be
allowed at next anniversaries:
SP 74 (2102-4070) 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 0 0 0
SP 80 0 0 0 0 0 0
SP 81A 0 0 0 0 0 (1)
SP 82A 0 0 0 0 0 0
SP 82B 0 0 0 0 0 1
SP 83A 0 0 0 0 0 0
SP 83B 0 0 0 0 0 (1)
IC-2-84 - 2019-4061 0 0 0 0 0 2
IC-2-85 0 0 0 0 0 0
IC-2-86 0 0 0 0 0 1
IC-2-87 0 0 0 0 0 0
IC-2-88 0 0 0 0 0 (1)
F-56
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE VI
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2003
(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-Stock Mkt - 2019/31-4061 SEC 5 from
C2785-81 0 0 1,725 29,866 0 0
IC-Market Strategy Certificate
(SEC 5 from c2785-81) 0 0 1,090 17,624 0 0
IC-EISC 0 0 13 158 0 0
IC-AEBI Stock Market 0 0 70 12,617 0 0
---------- ----------- ----------- ----------- ----------- -----------
Total 0 0 2,898 60,266 0 0
---------- ----------- ----------- ----------- ----------- -----------
Total Single Payment - Non Qualified 242,646 3,236,001 3,478,554 124,291 2,219,652 76,084
---------- ----------- ----------- ----------- ----------- -----------
R Series Single-Payment certificates:
R-76 - 900 3.5 4 13 12 0 0 0
R-77 - 910 3.5 15 320 205 0 0 7
R-78 - 911 3.5 34 279 255 0 0 9
R-79 - 912 3.5 48 584 503 0 0 17
R-80 - 913 3.5 38 374 281 0 0 10
R-81 - 914 3.5 16 138 105 0 0 3
R-82A - 915 3.5 106 705 483 0 0 17
RP-Q - 916 220 365 891 0 0 1
R-II - 920 3.5 71 584 305 0 0 10
RP-2-84 - 921,922,923,924,925 3.5 188 2,585 1,095 0 0 38
RP-2-85 - 926,927,928,929,930,931,932,933,
934,935,936 3.5 64 249 313 0 0 11
RP-2-86 - 937 3.5 19 69 77 0 0 3
RP-2-87 - 938 3.5 37 647 245 0 0 9
RP-2-88 - 939 3.5 47 293 221 0 0 7
Cash Reserve RP - 970 5 15 32 0 0 0
RP-Flexible Savings - 971 25,630 452,429 481,470 0 209,314 15,898
RP-Preferred Investors - 950 5 2,148 2,367 0 265 51
Cash Reserve RP-3 mo. - 972 1,629 15,351 16,182 0 24,659 94
RP-Flexible Savings Emp - 973 219 2,974 3,995 0 115 128
RP-Future Value - 975 954 17,057 17,057 0 0 0
RP-Future Value Emp - 976 38 462 462 0 0 0
RP-Stock Market - 960 11,937 103,259 113,776 0 55,084 3,249
Market Strategy Cert - 961 (section 1-6
from Report 2785-81-RP-STOCK-VB 2001) 3,474 84,498 86,330 0 22,126 2,008
D-1 - sum of SERIES D on Summary page -
400 + 990-993 142 12,934 16,417 0 847 332
---------- ----------- ----------- ----------- ----------- -----------
Total 44,940 698,332 743,079 0 312,410 21,902
---------- ----------- ----------- ----------- ----------- -----------
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-Stock Mkt - 2019/31-4061 SEC 5 from
C2785-81 0 422 10,726 0 0 20,443
IC-Market Strategy Certificate
(SEC 5 from c2785-81) 0 259 6,535 0 0 11,920
IC-EISC 0 0 55 0 0 116
IC-AEBI Stock Market 0 53 1,645 0 0 10,989
--------- ----------- --------- --------- ----------- -----------
Total 0 734 18,963 0 0 43,468
--------- ----------- --------- --------- ----------- -----------
Total Single Payment - Non Qualified 7,528 2,038,815 77,691 252,909 3,513,227 3,774,547
--------- ----------- --------- --------- ----------- -----------
R Series Single-Payment certificates:
R-76 - 900 0 3 0 3 10 9
R-77 - 910 0 8 0 14 286 204
R-78 - 911 0 57 0 32 214 207
R-79 - 912 0 29 0 45 553 491
R-80 - 913 0 61 0 34 258 230
R-81 - 914 0 9 0 15 126 99
R-82A - 915 0 35 0 99 655 465
RP-Q - 916 0 155 0 193 279 737
R-II - 920 0 23 0 66 540 292
RP-2-84 - 921,922,923,924,925 0 77 0 174 2,212 1,056
RP-2-85 - 926,927,928,929,930,931,932,933,
934,935,936 0 9 0 63 243 315
RP-2-86 - 937 0 5 0 17 64 75
RP-2-87 - 938 0 8 0 35 640 246
RP-2-88 - 939 0 18 0 43 263 210
Cash Reserve RP - 970 0 2 0 4 14 30
RP-Flexible Savings - 971 0 195,362 0 31,664 478,987 511,320
RP-Preferred Investors - 950 0 2,187 0 1 441 496
Cash Reserve RP-3 mo. - 972 0 27,306 0 1,637 12,980 13,629
RP-Flexible Savings Emp - 973 0 829 0 203 2,483 3,409
RP-Future Value - 975 3,349 857 0 680 12,850 12,851
RP-Future Value Emp - 976 93 0 0 29 368 369
RP-Stock Market - 960 0 37,098 0 12,723 124,162 135,011
Market Strategy Cert - 961 (section 1-6
from Report 2785-81-RP-STOCK-VB 2001) 0 23,282 0 3,641 84,337 87,182
D-1 - sum of SERIES D on Summary page -
400 + 990-993 19 3,323 0 126 11,108 14,254
--------- ----------- --------- --------- ----------- -----------
Total 3,461 290,743 0 51,541 734,073 783,187
--------- ----------- --------- --------- ----------- -----------
F-57
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE VI
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2003
(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)
----------- -------------- ---------- ----------- ----------- ---------- ----------- ----------
Additional Interest on R-Series Single
Payment Reserves:
R-76 3.5 0 0 0 0 0 0
R-77 3.5 0 0 1 7 0 0
R-78 3.5 0 0 6 9 0 0
R-79 3.5 0 0 8 17 0 0
R-80 3.5 0 0 7 9 0 0
R-81 3.5 0 0 1 4 0 0
R-82A 3.5 0 0 14 17 0 0
RP-Q 0 0 0 1 0 0
R-II 3.5 0 0 5 11 0 0
RP-2-84 3.5 0 0 22 38 0 0
RP-2-85 3.5 0 0 7 11 0 0
RP-2-86 3.5 0 0 2 3 0 0
RP-2-87 3.5 0 0 6 9 0 0
RP-2-88 3.5 0 0 4 8 0 0
Cash Reserve RP 0 0 0 0 0 0
RP-Flexible Savings 0 0 701 16,685 0 0
RP-Preferred Investors 0 0 5 65 0 0
Cash Reserve RP-3 mo. Plus 0 0 34 122 (40) 0
RP-Flexible Savings Emp 0 0 8 138 0 0
RP-Future Value 0 0 13,445 1,951 0 0
RP-Future Value Emp 0 0 396 66 0 0
RP-Stock Market 0 0 142 248 0 0
Market Strategy Cert (2785-81 RP-STOCK VB
2004/4000 & 2016/2031/4016) 0 0 39 192 0 0
D-1 - 400 0 0 1 364 0 0
---------- ----------- ----------- ----------- -----------
Total 0 0 14,854 19,975 (40) 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
----------- ------------ ------------ ---------- ---------- ------------ ----------
Additional Interest on R-Series Single
Payment Reserves:
R-76 0 0 0 0 0 0
R-77 0 0 7 0 0 1
R-78 0 1 9 0 0 5
R-79 0 1 17 0 0 7
R-80 0 1 10 0 0 5
R-81 0 0 3 0 0 1
R-82A 0 1 17 0 0 14
RP-Q 0 0 1 0 0 0
R-II 0 0 10 0 0 5
RP-2-84 0 1 38 0 0 21
RP-2-85 0 0 11 0 0 7
RP-2-86 0 0 3 0 0 2
RP-2-87 0 0 9 0 0 6
RP-2-88 0 0 7 0 0 4
Cash Reserve RP 0 0 0 0 0 0
RP-Flexible Savings 0 909 15,898 0 0 579
RP-Preferred Investors 0 19 51 0 0 0
Cash Reserve RP-3 mo. Plus 0 0 94 0 0 22
RP-Flexible Savings Emp 0 13 128 0 0 5
RP-Future Value 2,749 702 0 0 0 11,945
RP-Future Value Emp 91 0 0 0 0 371
RP-Stock Market 0 12 246 0 0 132
Market Strategy Cert (2785-81 RP-STOCK VB
2004/4000 & 2016/2031/4016) 0 2 184 0 0 45
D-1 - 400 0 32 332 0 0 1
----------- --------- -----------
Total 2,840 1,694 17,075 0 0 13,180
--------- ----------- --------- --------- ----------- -----------
F-58
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE VI
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2003
(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)
----------- -------------- ---------- ----------- ----------- ---------- ----------- ----------
Accrued for additional credits to be allowed
at next anniversaries:
RP-Stock Market 0 0 510 8,453 0 0
Market Strategy Cert (C2785-81 2019/2102/
4061) 0 0 314 4,808 0 0
---------- ----------- ----------- ----------- ----------- -----------
Total 0 0 824 13,261 0 0
---------- ----------- ----------- ----------- ----------- -----------
Total Single Payment - Qualified 44,940 698,332 758,757 33,236 312,370 21,902
---------- ----------- ----------- ----------- ----------- -----------
Paid-up certificates:
Series 15 and 20 3.25 4 45 44 1 0 0
" 15A and 22A 3.5 150 3,397 3,056 101 0 582
" I-76 - 640 3.5 486 2,386 1,868 67 0 180
---------- ----------- ----------- ----------- ----------- -----------
Total 640 5,828 4,968 169 0 762
---------- ----------- ----------- ----------- ----------- -----------
Additional credits and accrued interest
thereon:
Series 15 and 20 2.5 0 0 3 0 0 0
" 15A and 22A 3 0 0 95 2 0 0
" I-76 3.5 0 0 188 6 0 0
---------- ----------- ----------- ----------- ----------- -----------
Total 0 0 286 8 0 0
---------- ----------- ----------- ----------- ----------- -----------
Accrued for additional credits to be allowed
at next anniversaries 0 0 0 0 0 0
---------- ----------- ----------- ----------- ----------- -----------
Total paid-up 640 5,828 5,254 177 0 762
---------- ----------- ----------- ----------- ----------- -----------
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
----------- ------------ ------------ ---------- ---------- ------------ ----------
Accrued for additional credits to be allowed
at next anniversaries:
RP-Stock Market 0 43 3,004 0 0 5,916
Market Strategy Cert (C2785-81 2019/2102/
4061) 0 108 1,824 0 0 3,190
--------- ----------- ---------- --------- ----------- -----------
Total 0 151 4,828 0 0 9,106
--------- ----------- ---------- --------- ----------- -----------
Total Single Payment - Qualified 6,301 292,588 21,903 51,541 734,073 805,473
--------- ----------- ---------- --------- ----------- -----------
Paid-up certificates:
Series 15 and 20 0 2 0 3 43 43
" 15A and 22A 283 207 581 120 2,896 2,668
" I-76 - 640 0 231 0 465 2,314 1,884
--------- ----------- ---------- --------- ----------- -----------
Total 283 440 581 588 5,253 4,595
--------- ----------- ---------- --------- ----------- -----------
Additional credits and accrued interest
thereon:
Series 15 and 20 0 0 0 0 0 3
" 15A and 22A 13 3 19 0 0 62
" I-76 0 13 0 0 0 181
--------- ----------- ---------- --------- ----------- -----------
Total 13 16 19 0 0 246
--------- ----------- ---------- --------- ----------- -----------
Accrued for additional credits to be allowed
at next anniversaries 0 0 0 0 0 0
--------- ----------- ---------- --------- ----------- -----------
Total paid-up 296 456 600 588 5,253 4,841
--------- ----------- ---------- --------- ----------- -----------
F-59
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE VI
Certificate Reserves
Part 1 - Summary of Changes
Year ended December 31, 2003
(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)
----------- -------------- ---------- ----------- ----------- ---------- ----------- ----------
Optional settlement certificates:
Series IST&G 3 12 0 0 0 0 0
Source
Other series and conversions from Single 2740-10:
Options 0 0 0 0 0 0
Payment certificates 2.5-3-3-3.5 4,685 0 70,420 2,128 0 3,644
Series R-76 thru R-82A - Prod 900 3 0 0 28 1 0 0
Series R-II & RP-2-84 thru 88 - Prod 921 3.5 0 0 200 7 0 0
Reserve Plus Single-Payment (Prod 150) 50 0 491 0 0 25
Reserve Plus Flex-Pay & IC-Q-Inst (Prod 650,
651, 652) 14 0 70 0 0 22
Series R-Installment (Prod 980, 981,982) 20 0 122 1 0 0
Series R-Single-Payment (Prod 133) 7 0 2 0 0 0
Add'l credits and accrued int. thereon 2.5-3 0 0 8,930 240 0 6
Add'l credits and accrued int. thereon-IST&G 2.5-3 0 0 0 0 0 0
Accrued for additional credits to be allowed 0 0 0 0 0 0
at next anniversaries 0 0 4 7 0 0
Accrued for additional credits to be allowed 0 0 0 0 0 0
at next anniversaries-R-76-R-82A & R-II 0 0 (1) 0 0 0
Accrued for additional credits to be allowed 0 0 0 0 0 0
at next anniversaries-IST&G 0 0 0 0 0 0
---------- ----------- ----------- ----------- ----------- -----------
Total optional settlement 4,788 0 80,266 2,384 0 3,697
---------- ----------- ----------- ----------- ----------- -----------
Due to unlocated cert holders 0 0 170 0 0 19
---------- ----------- ----------- ----------- ----------- -----------
Total certificate reserves 318,463 4,222,623 4,496,544 163,858 2,571,209 105,272
========= =========== =========== =========== =========== ===========
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
----------- ------------ ------------ ---------- ---------- ------------ ----------
Optional settlement certificates:
Series IST&G 1 0 0 3 0 (1)
Other series and conversions from Single
0 0 0 0 0 0
Payment certificates 3,963 3,913 0 4,292 0 68,316
Series R-76 thru R-82A - Prod 900 5 0 0 2 0 24
Series R-II & RP-2-84 thru 88 - Prod 921 18 0 0 6 0 189
Reserve Plus Single-Payment (Prod 150) 2 84 0 43 0 430
Reserve Plus Flex-Pay & IC-Q-Inst (Prod 650,
651, 652) 15 10 0 13 0 67
Series R-Installment (Prod 980, 981,982) 20 21 0 14 0 82
Series R-Single-Payment (Prod 133) 2 0 0 5 0 0
Add'l credits and accrued int. thereon 468 416 438 0 0 7,854
Add'l credits and accrued int. thereon-IST&G 0 0 0 0 0 0
Accrued for additional credits to be allowed 0 0 0 0 0 0
at next anniversaries 0 0 7 0 0 4
Accrued for additional credits to be allowed 0 0 0 0 0 0
at next anniversaries-R-76-R-82A & R-II 0 0 0 0 0 (1)
Accrued for additional credits to be allowed 0 0 0 0 0 0
at next anniversaries-IST&G 5 0 0 0 0 (5)
--------- ----------- ---------- --------- ----------- -----------
Total optional settlement 4,499 4,444 445 4,378 0 76,959
--------- ----------- ---------- --------- ----------- -----------
Due to unlocated cert holders 0 5 92 0 0 92
--------- ----------- ---------- --------- ----------- -----------
Total certificate reserves 34,544 2,384,929 105,401 331,611 4,477,755 4,812,007
========= ========== ========== ========= =========== ===========
F-60
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 2 - Description of Additions to Reserves Charged to Other
Accounts and Deductions from Reserves Credited to Other Accounts
Year ended December 31, 2003
(Thousands)
Additions to reserves charged to other accounts
------------------------------------------------------------------------
Transfers of
maturities to
Reconversions extended
of paid-up maturities-
certificate charged to
charged Charged reserves to
to paid-up to mature, addi- Transferred
reserves and advance tional credits/ to Federal
reserve for payments interest and Withholding
reconversions reserve advance payments Total
-------------- ---------- ----------------- ------------ --------
Reserves to mature installment
certificates:
Series 15, including extended
maturities 0 0 0 0 0
Series 20, including extended
maturities 0 0 0 0 0
Series 15A, including extended
maturities 0 0 0 0 0
Series 22A, including extended
maturities 0 58 9 0 67
Series I-76 0 9 0 0 9
Series Reserve Plus Flexible Payment 2 20 22
Series IC-Q-Installment 0 0 1 0 1
Series IC-Q-Ins 0 0 6 0 6
Series IC-Q-Ins Emp 0 0 0 0 0
Series IC-I 0 0 2,382 4 2,386
Series IC-I-EMP 0 0 24 0 24
Series Inst 0 0 234 0 234
Series Inst-E 0 0 2 0 2
Series RP-Q-Installment 0 0 3 0 3
Series RP-Q-Flexible Pay 0 0 0 0 0
Series RP-Q-Ins 0 0 0 0 0
Series RP-Q-Ins Emp 0 0 0 0 0
Series RP-I 0 0 15 0 15
Series RP-I-EMP (R I95) 0 0 3 0 3
-------------- ---------- ----------------- ------------ --------
Total 0 67 2,681 24 2,772
============== ========== ================= ============ ========
Deductions from reserves credited to other accounts
----------------------------------------------------------
Conversions
to optional Maturities
settlement transferred
Conversions certificates- to extended
to paid-up credited maturities-
certificates- to optional credited to
credited settlement reserves to
to paid-up reserves and mature-
surrender surrender extended
income income maturities Total
------------ ------------- ------------ -----------
Reserves to mature installment
certificates:
Series 15, including extended 0 0 0 0
maturities 0 0 0 0
Series 20, including extended
maturities 0 0 0 0
Series 15A, including extended
maturities 0 0 0 0
Series 22A, including extended
maturities 463 782 9 1,254
Series I-76 143 44 0 187
Series Reserve Plus Flexible Payment 0 22 0 22
Series IC-Q-Installment 0 0 0 0
Series IC-Q-Ins 0 0 0 0
Series IC-Q-Ins Emp 0 0 0 0
Series IC-I 0 0 0 0
Series IC-I-EMP 0 0 0 0
Series Inst 0 0 0 0
Series Inst-E 0 0 0 0
Series RP-Q-Installment 0 0 0 0
Series RP-Q-Flexible Pay 0 0 0 0
Series RP-Q-Ins 0 0 0 0
Series RP-Q-Ins Emp 0 0 0 0
Series RP-I 0 0 0 0
Series RP-I-EMP (R I95) 0 0 0 0
------------ ---------- ------------ -----------
Total 606 848 9 1,463
============ ========== ============ ===========
F-61
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 2 - Description of Additions to Reserves Charged to Other
Accounts and Deductions from Reserves Credited to Other Accounts
Year ended December 31, 2003
(Thousands)
Additions to reserves charged to other accounts
-------------------------------------------------------
Additions Additions to
to advance reserves to
Reconversions payments- mature-extended
of paid-up charged to maturities
Payments made in advance certificates- default charged to
of current certificate charged to interest reserves to
year requirements and paid-up on late mature from
accrued interest thereon: reserves payments maturity Total
-------------- ----------- ---------------- ------
Series 20, including extended
maturities 0 0 0 0
Series 15A, including extended 0 0 0
maturities 0 0 0 0
Series 22A, including extended
maturities 0 0 3 3
Series I-76 0 1 0 1
Series Reserve Plus Flex Pay 0 0 0 0
Series IC-Q Installment 0 0 0 0
Series IC-Q Ins 0 0 0 0
Series IC-Q Ins Emp 0 0 0 0
Series IC-I 0 0 0 0
Series IC-I-EMP 0 0 0 0
Series RP-Q Flexible Payment 0 0 0 0
Series RP-Q Ins 0 0 0 0
Series RP-Q Ins Emp 0 0 0 0
Series RP-I 0 0 0 0
Series RP-I-EMP 0 0 0 0
-------------- ----------- ------------- -------
Total 0 1 3 4
============== =========== ============= =======
Deductions from reserves credited to other accounts
----------------------------------------------------------------------
Maturities
Conversions transferred
Applied to to optional to extended
certificates- settlement maturities- Conversions
credited to certificates- credited to to paid-up
Payments made in advance reserves to credited reserves certificates-
of current certificate mature, to optional to mature- credited to
year requirements and loading settlement extended paid-up
accrued interest thereon: and insurance reserves maturities reserves Total
-------------- -------------- ------------ -------------- ------
Series 20, including extended
maturities 0 0 0 0 0
Series 15A, including extended
maturities 0 0 0 0 0
Series 22A, including extended
maturities 58 22 3 0 84
Series I-76 9 1 0 0 10
Series Reserve Plus Flex Pay 0 0 0 0 0
Series IC-Q Installment 0 0 0 0 0
Series IC-Q Ins 0 0 0 0 0
Series IC-Q Ins Emp 0 0 0 0 0
Series IC-I 0 0 0 0 0
Series IC-I-EMP 0 0 0 0 0
Series RP-Q Flexible Payment 0 0 0 0 0
Series RP-Q Ins 0 0 0 0 0
Series RP-Q Ins Emp 0 0 0 0 0
Series RP-I 0 0 0 0 0
Series RP-I-EMP 0 0 0 0 0
-------------- ------------ ------------ --------- ------
Total 67 23 3 0 94
============== ============ ============ ========= ======
F-62
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 2 - Description of Additions to Reserves Charged to Other
Accounts and Deductions from Reserves Credited to Other Accounts
Year ended December 31, 2003
(Thousands)
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 $ 54
Reconversions of paid-up certificates-charged to paid-up reserves 0
Transfers from maturities to extended maturities 2
------------
$ 56
============
Other deductions represent:
Transfers to reserves on a quarterly basis for Reserve Plus Flexible-
Payment, IC-Q-Installment and R-Flexible-Payment $ 2,677
Conversions to optional settlement certificates-credited to optional
settlement reserves 225
Conversions to paid-up certificates-credited to paid-up reserves 153
Transfers to extended maturities at maturity 2
------------
$ 3,057
============
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 $ 54
============
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) $ 763
Transfers from accrual for additional credits to be allowed at next
anniversaries 0
------------
$ 763
============
Other deductions represent:
Transfers credited to installment reserves on reconversions to installment
certificates $ 0
Transfers for accrual for additional credits and accrued interest thereon 0
Transfers to settlement options 600
------------
$ 600
============
F-63
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 2 - Description of Additions to Reserves Charged to Other
Accounts and Deductions from Reserves Credited to Other Accounts
Year ended December 31, 2003
(Thousands)
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 $ 2
Transfers to advance payments as late payments are credited to certificates 1
-------------
$ 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 $ 3,091
Transfers from paid-up certificate reserves 600
Transfers from accruals for additional credits to be allowed at next anniversaries 6
-------------
$ 3,697
=============
Other deductions represent:
Transfers to reserve for additional credits and accrued interest thereon $ 7
Transfers to optional settlement reserves 438
-------------
$ 445
=============
Single-Payment certificates:
Other additions represent:
Transfers from accruals for additional credits to be allowed at next anniversaries $ 1
Transfers from accruals on a quarterly basis on: 0
Reserve Plus Single-Payment (10)
Cash Reserve Single-Payment 0
Flexible Savings 40,821
Flexible Savings-Emp 292
Preferred Investors 182
Investors 12,449
Special Deposits 587
Cash Reserve 1
Cash Reserve-3mo 415
Future Value 0
Stock Market 11,697
Market Strategy 7,244
AEBI Stock Market 2,009
R82-B 1
Cash Reserve-RP 0
Cash Reserve-RP-3mo 94
Flexible Saving-RP 15,898
Flexible Savings-RP-Emp 128
Preferred Investors-RP 51
Stock Market-RP 3,249
Market Strategy-RP 2,008
Equity Indexed Savings Cert 61
R Single Payment Cert 0
Transfers from accruals at anniversaries maintained in a separate reserve account. 808
-------------
$ 97,986
=============
F-64
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 2 - Description of Additions to Reserves Charged to Other
Accounts and Deductions from Reserves Credited to Other Accounts
Year ended December 31, 2003
(Thousands)
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 $ 10,874
R Single-Payment 0
Transfers to reserves for additional credits and accrued interest thereon 808
Transfers to a separate reserve account from the accrual account 1
Transfers to reserves on a quarterly basis:
Reserve Plus Single-Payment 1
Cash Reserve Single-Payment 0
Flexible Savings 40,821
Flexible Savings-Emp 292
Preferred Investors 182
Investors 12,449
Special Deposits 587
Cash Reserve Variable Payment 1
Cash Reserve - Variable Payment 3mo 415
Stock Market 11,697
AEBI Stock Market 2,009
RP-Q (was R82-B) 1
Cash Reserve-RP 0
Cash Reserve-RP-3mo 94
Flexible Saving-RP 15,898
Flexible Savings-RP-Emp 128
Preferred Investors-RP 51
Stock Market-RP 3,249
Transfers to Federal tax withholding 35
-------------
$ 99,593
=============
Due to unlocated certificate holders:
Other additions represent:
Amounts equivalent to payments due certificate holders who could
not be located $ 92
=============
Other deductions represent:
Payments to certificate holders credited to cash $ 19
=============
F-65
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
Year ended December 31, 2003
(Thousands)
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
2002 2003 2002 2003 2002 2003 2002 2003
-------- -------- --------- --------- --------- --------- ---------- -------
15 INC EXT 61-72 0 0 0 0 0 0 0 0
73-84 0 0 0 0 0 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 0 0 0 0 0 0 0 0
133-144 0 0 0 0 0 0 0 0
145-156 0 0 0 0 0 0 0 0
157-168 0 0 0 0 0 0 0 0
169-180 0 0 0 0 0 0 0 0
181-192 0 0 0 0 0 0 0 0
193-204 0 0 0 0 0 0 0 0
205-216 0 0 0 0 0 0 0 0
217-228 0 0 0 0 0 0 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 0 0 0 0 0 0 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
20, including extended
maturities 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 0 0 0 0 0 0 0 0
133-144 0 0 0 0 0 0 0 0
145-156 0 0 0 0 0 0 0 0
157-168 0 0 0 0 0 0 0 0
169-180 0 0 0 0 0 0 0 0
181-192 0 0 0 0 0 0 0 0
193-204 0 0 0 0 0 0 0 0
F-66
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
Year ended December 31, 2003
(Thousands)
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
205-216 0 0 0 0 0 0 0 0
217-228 0 0 0 0 0 0 0 0
229-240 0 0 0 0 0 0 0 0
241-252 0 0 0 0 0 0 0 0
253-264 0 0 0 0 0 0 0 0
265-276 0 0 0 0 0 0 0 0
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 0 0 0 0 0 0 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
F-67
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
Year ended December 31, 2003
(Thousands)
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
15 A INC EXT 61-72 0 0 0 0 0 0 0 0
73-84 0 0 0 0 0 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 0 0 0 0 0 0 0 0
133-144 0 0 0 0 0 0 0 0
145-156 0 0 0 0 0 0 0 0
157-168 0 0 0 0 0 0 0 0
169-180 0 0 0 0 0 0 0 0
181-192 0 0 0 0 0 0 0 0
193-204 0 0 0 0 0 0 0 0
205-216 0 0 0 0 0 0 0 0
217-228 0 0 0 0 0 0 0 0
229-240 (a) 0 0 0 0 0 0 0 0
241-252 0 0 0 0 0 0 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 0 0 0 0 0 0 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
22A INC EXT 25-36 0 0 0 0 0 0 0 0
37-48 0 0 0 0 0 0 0 0
49-60 0 0 0 0 0 0 0 0
61-72 0 0 0 0 0 0 0 0
73-84 0 0 0 0 0 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 0 0 0 0 0 0 0 0
133-144 0 0 0 0 0 0 0 0
F-68
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
Year ended December 31, 2003
(Thousands)
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
145-156 2 1 32 19 15 9 0 0
157-168 0 1 0 13 0 7 0 0
169-180 1 0 15 0 9 0 0 0
181-192 1 1 38 15 24 9 0 0
193-204 0 1 0 38 0 26 0 0
205-216 2 1 38 19 27 14 0 0
217-228 1 1 19 19 15 14 0 0
229-240 0 1 0 19 0 16 0 0
241-252 1 1 15 15 13 14 0 0
253-264 (a) 2 1 19 9 18 9 0 9
265-276 2 1 75 16 45 10 0 0
277-288 2 1 36 65 23 42 0 6
289-300 4 1 146 19 100 13 11 0
301-312 2 4 325 146 233 106 0 0
313-324 13 2 364 325 279 246 0 0
325-336 66 15 1,663 403 1,319 326 0 88
337-348 68 60 1,588 1,532 1,332 1,284 14 38
349-360 75 59 1,793 1,390 1,590 1,228 100 113
361-372 69 72 1,598 1,663 1,488 1,554 71 182
373-384 56 65 1,026 1,351 1,003 1,323 0 818
-------- -------- --------- --------- --------- --------- ---------- -------
Total 367 289 8,787 7,076 7,533 6,250 196 1,254
-------- -------- --------- --------- --------- --------- ---------- -------
F-69
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
Year ended December 31, 2003
(Thousands)
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
I-76 25-36 0 0 0 0 0 0 0 0
37-48 0 0 0 0 0 0 0 0
49-60 0 0 0 0 0 0 0 0
61-72 0 0 0 0 0 0 0 0
73-84 0 0 0 0 0 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 0 0 0 0 0 0 0 0
133-144 0 0 0 0 0 0 0 0
145-156 0 0 0 0 0 0 0 0
157-168 0 0 0 0 0 0 0 0
169-180 1 1 37 37 13 13 0 0
181-192 0 0 0 0 0 0 0 0
193-204 0 0 0 0 0 0 0 0
205-216 2 0 40 0 18 0 0 0
217-228 1 2 25 40 12 19 0 0
229-240 0 1 0 25 0 13 0 0
241-252 8 0 178 0 102 0 0 0
253-264 37 9 941 197 568 120 36 11
265-276 54 32 1,313 846 847 546 26 20
277-288 60 44 1,313 1,159 904 797 99 54
289-300 68 53 1,267 1,126 923 823 73 44
301-312 59 63 1,381 1,092 1,072 845 59 0
313-324 37 53 824 1,298 670 1,068 48 50
325-336 0 36 0 763 0 657 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 327 294 7,319 6,583 5,129 4,901 341 179
-------- -------- --------- --------- --------- --------- ---------- -------
F-70
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
Year ended December 31, 2003
(Thousands)
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
RES+FP 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 0 0 0 0 0 0 0 0
133-144 0 0 0 0 0 0 0 0
145-156 0 0 0 0 0 0 0 0
157-168 0 0 0 0 0 0 0 0
169-180 0 0 0 0 0 0 0 0
181-192 0 0 0 0 0 0 0 0
193-204 0 0 0 0 0 0 0 0
205-216 0 0 0 0 0 0 0 0
217-228 22 0 225 0 108 0 0 0
229-240 47 22 427 225 165 115 6 0
241-252 1 1 18 6 41 3 67 22
253-264 0 1 0 18 0 42 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 70 24 670 249 314 160 73 22
-------- -------- --------- --------- --------- --------- ---------- -------
F-71
SCHEDULE VI
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
(Thousands)
Year ended December 31, 2003
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
IC-Q-INST 61-72 0 0 0 0 0 0 0 0
73-84 0 0 0 0 0 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 0 0 0 0 0 0 0 0
133-144 0 0 0 0 0 0 0 0
145-156 0 0 0 0 0 0 0 0
157-168 0 0 0 0 0 0 0 0
169-180 0 0 0 0 0 0 0 0
181-192 0 0 0 0 0 0 0 0
193-204 3 0 51 0 5 0 0 0
205-216 16 2 265 30 54 3 3 0
217-228 10 13 90 241 38 44 11 0
229-240 0 6 0 57 0 21 21 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 29 21 406 328 97 68 35 0
-------- -------- --------- --------- --------- --------- ---------- -------
F-72
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
Year ended December 31, 2003
(Thousands)
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
<c>
IC-Q-IN 1-12 0 0 0 0 0 0 0 0
13-24 0 0 0 0 0 0 0 0
25-36 0 0 0 0 0 0 0 0
37-48 0 0 0 0 0 0 0 0
49-60 0 0 0 0 0 0 0 0
61-72 0 0 0 0 0 0 0 0
73-84 0 0 0 0 0 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 23 0 292 0 113 0 0 0
133-144 47 18 517 244 246 91 23 0
145-156 33 41 343 439 231 216 25 0
157-168 33 28 468 290 158 198 41 0
169-180 48 23 590 292 257 118 46 0
181-192 13 30 147 380 54 157 58 0
193-204 8 10 75 114 14 47 13 0
205-216 0 6 0 54 0 13 8 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 205 156 2,432 1,813 1,073 840 214 0
-------- -------- --------- --------- --------- --------- ---------- -------
F-73
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
Year ended December 31, 2003
(Thousands)
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
IC-IN-EMP 1-12 0 0 0 0 0 0 0 0
13-24 0 0 0 0 0 0 0 0
25-36 0 0 0 0 0 0 0 0
37-48 0 0 0 0 0 0 0 0
49-60 0 0 0 0 0 0 0 0
61-72 0 0 0 0 0 0 0 0
73-84 0 0 0 0 0 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 0 0 0 0 0 0 0 0
133-144 0 0 0 0 0 0 0 0
145-156 1 0 6 0 0 0 0 0
157-168 0 1 0 6 0 1 0 0
169-180 1 0 17 0 16 0 0 0
181-192 0 1 0 17 0 16 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 2 2 23 23 16 17 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
F-74
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
Year ended December 31, 2003
(Thousands)
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
<c>
IC-I 1-12 2 3 18 87 1 4 2 0
13-24 0 1 0 12 0 2 1 0
25-36 2 0 12 0 2 0 0 0
37-48 7 2 76 12 30 4 0 0
49-60 2 6 32 52 15 25 12 0
61-72 1,849 1 31,177 24 13,355 16 1 0
73-84 3,775 1,428 63,148 23,254 28,868 10,691 3,272 0
85-96 4,103 3,134 66,807 51,397 34,904 25,582 4,680 0
97-108 3,165 3,526 51,879 57,404 26,781 32,027 4,386 0
109-120 2,011 2,682 30,627 42,635 16,211 23,810 2,823 0
121-132 31 35 407 331 237 233 2,477 0
133-144 0 23 0 299 0 160 35 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 14,947 10,841 244,183 175,507 120,404 92,554 17,689 0
-------- -------- --------- --------- --------- --------- ---------- -------
IC-I-EMP 1-12 1 0 6 0 3 0 0 0
13-24 0 1 0 6 0 4 0 0
25-36 0 0 0 0 0 0 0 0
37-48 0 0 0 0 0 0 0
49-60 0 0 0 0 0 0 0 0
61-72 10 0 114 0 68 0 0 0
73-84 27 9 484 102 250 70 10 0
85-96 23 22 266 424 182 248 30 0
97-108 18 22 222 260 193 195 5 0
109-120 7 15 78 180 63 93 45 0
121-132 1 0 120 0 337 0 31 0
133-144 0 1 0 120 0 280 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 87 70 1,290 1,092 1,096 890 121 0
-------- -------- ------------------- --------- --------- ---------- -------
F-75
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
Year ended December 31, 2003
(Thousands)
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
IC-I95 1-12 2,220 2,446 0 0 2,840 3,859 149 0
13-24 1,351 1,810 0 0 3,128 5,061 414 0
25-36 1,221 1,187 0 0 4,065 4,322 333 0
37-48 1,432 1,051 0 0 6,158 4,651 478 0
49-60 1,729 1,260 0 0 8,681 6,767 536 0
61-72 1,103 1,481 0 0 6,174 8,545 1,176 0
73-84 0 877 0 0 0 5,358 1,285 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 9,056 10,112 0 0 31,046 38,563 4,371 0
-------- -------- --------- --------- --------- --------- ---------- -------
IC-I95-E 1-12 16 14 0 0 12 18 3 0
13-24 8 11 0 0 14 21 5 0
25-36 8 5 0 0 22 14 8 0
37-48 7 7 0 0 11 24 3 0
49-60 7 6 0 0 48 11 2 0
61-72 5 7 0 0 27 43 0 0
73-84 0 5 0 0 0 34 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 51 55 0 0 134 165 21 0
-------- -------- --------- --------- --------- --------- ---------- -------
F-76
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
Year ended December 31, 2003
(Thousands)
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
RP-Q-INST 73-84 0 0 0 0 0 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 0 0 0 0 0 0 0 0
133-144 0 0 0 0 0 0 0 0
145-156 0 0 0 0 0 0 0 0
157-168 0 0 0 0 0 0 0 0
169-180 0 0 0 0 0 0 0 0
181-192 0 0 0 0 0 0 0 0
193-204 0 0 0 0 0 0 0 0
205-216 24 0 349 0 214 0 0 0
217-228 7 21 115 290 31 130 54 0
229-240 21 7 301 115 154 30 0 0
241-252 7 6 110 67 137 29 18 0
253-264 0 5 0 86 0 85 50 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 59 39 875 558 536 274 122 0
-------- -------- --------- --------- --------- --------- ---------- -------
F-77
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
Year ended December 31, 2003
(Thousands)
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
RP-Q-FP 61-72 0 0 0 0 0 0 0 0
73-84 0 0 0 0 0 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 0 0 0 0 0 0 0 0
133-144 0 0 0 0 0 0 0 0
145-156 0 0 0 0 0 0 0 0
157-168 0 0 0 0 0 0 0 0
169-180 0 0 0 0 0 0 0 0
181-192 0 0 0 0 0 0 0 0
193-204 4 0 59 0 39 0 0 0
205-216 1 4 6 59 10 39 0 0
217-228 0 1 0 6 0 10 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 5 5 65 65 49 49 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
F-78
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
Year ended December 31, 2003
(Thousands)
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
RP-Q-IN 1-12 0 0 0 0 0 0 0 0
13-24 0 0 0 0 0 0 0 0
25-36 0 0 0 0 0 0 0 0
37-48 0 0 0 0 0 0 0 0
49-60 0 0 0 0 0 0 0 0
61-72 0 0 0 0 0 0 0 0
73-84 0 0 0 0 0 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 0 0 0 0 0 0 0 0
133-144 0 0 0 0 0 0 0 0
145-156 4 0 260 0 51 0 0 0
157-168 2 4 18 260 5 43 0 0
169-180 0 1 0 12 0 0 5 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 6 5 278 272 56 43 5 0
-------- -------- --------- --------- --------- --------- ---------- -------
RP-IN-EMP 1-12 0 0 0 0 0 0 0 0
13-24 0 0 0 0 0 0 0 0
25-36 0 0 0 0 0 0 0 0
37-48 0 0 0 0 0 0 0 0
49-60 0 0 0 0 0 0 0 0
61-72 0 0 0 0 0 0 0 0
73-84 0 0 0 0 0 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
-------- -------- --------- --------- --------- --------- ---------- -------
Total 0 0 0 0 0 0 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
F-79
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
Year ended December 31, 2003
(Thousands)
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
RP-I 1-12 0 0 0 0 0 0 0 0
13-24 0 0 0 0 0 0 0 0
25-36 0 0 0 0 0 0 0 0
37-48 0 0 0 0 0 0 0 0
49-60 0 0 0 0 0 0 0 0
61-72 15 0 215 0 139 0 0 0
73-84 15 6 235 48 173 24 117 0
85-96 11 9 538 105 219 72 63 0
97-108 14 8 376 281 186 203 31 0
109-120 14 9 341 177 215 97 74 0
121-132 0 0 0 0 0 0 87 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 69 32 1,705 611 932 396 372 0
-------- -------- --------- --------- --------- --------- ---------- -------
RP-I-EMP - Use C2790-26 1-12 0 0 0 0 0 0 0 0
13-24 0 0 0 0 0 0 0 0
25-36 0 0 0 0 0 0 0 0
37-48 0 0 0 0 0 0 0 0
49-60 0 0 0 0 0 0 0 0
61-72 0 0 0 0 0 0 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 0 0 0 0 0 0 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
Inst-R (RP-I95) 1-12 104 109 4,883 20,700 109 287 1 0
Note: Use C2790-26 13-24 21 86 3,725 2,260 75 206 25 0
25-36 9 16 2,106 3,652 44 91 6 0
37-48 15 9 1,261 2,105 85 47 0 0
49-60 13 13 182 1,237 63 90 16 0
61-72 3 10 669 142 10 51 21 0
73-84 0 3 0 669 0 10 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 165 246 12,826 30,765 386 782 69 0
-------- -------- --------- --------- --------- --------- ---------- -------
F-80
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 3 - Information Regarding Installment Certificates
Classified by Age Groupings
Year ended December 31, 2003
(Thousands)
Deductions from Reserves
------------------------
Number of 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
- ------------------ -------- -------------------- ------------------- ------------------- ---------- -------
Inst-R-E - Use C2790-26 1-12 2 1 1,590 8 11 0 0 0
13-24 0 1 0 240 0 2 0 0
25-36 0 0 0 0 0 0 0 0
37-48 1 0 6 0 4 0 0 0
49-60 1 1 6 6 3 5 0 0
61-72 0 1 0 6 0 3 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
Total 4 4 1,602 260 18 10 0 0
-------- -------- --------- --------- --------- --------- ---------- -------
TOTAL - ALL SERIES 25,449 22,195 282,464 225,202 168,823 145,962 23,629 1,455
======== ======== ========= ========= ========= ========= ========== =======
(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.
F-81
SCHEDULE VI
AMERICAN EXPRESS CERTIFICATE COMPANY
Part 4 - Amounts Periodically Credited to Certificate Holders' Accounts to
Accumulate the Maturity Amount of Installment Certificates.
Year ended December 31, 2003
(Thousands)
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. 2-258081and is incorporated herein by reference.
F-82
AMERICAN EXPRESS CERTIFICATE COMPANY SCHEDULE VII
Valuation and Qualifying Accounts
Years ended December 31, 2003, 2002, and 2001
(Thousands)
Year ended December 31, 2003
- ----------------------------------------------------------------------------------------------------------------------------
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/writedowns of period
- -------------------------- ------------- ------------ ------------ --------------------- ------------
Allowance for losses:
Conventional first
mortgage loans
and other loans 4,223 5,313 0 0 9,536
Year ended December 31, 2002
- ----------------------------------------------------------------------------------------------------------------------------
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/writedowns of period
- -------------------------- ------------- ------------ ------------ --------------------- ------------
Allowance for losses:
Conventional first
mortgage loans
and other loans 1,935 2,288 0 0 4,223
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/writedowns of period
- -------------------------- ------------- ------------ ------------ --------------------- ------------
Allowance for losses:
Conventional first
mortgage loans 744 1,191 0 0 1,935
F-83