<PAGE>
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
(AMENDMENT NO. 2)
|X| ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1997
OR
| | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________to ________
Commission File No. 1-7657
American Express Company
(Exact name of registrant as specified in its charter)
New York 13-4922250
(State or other jurisdiction (I.R.S. employer
of incorporation or organization) identification no.)
World Financial Center
200 Vesey Street
New York, New York 10285
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (212) 640-2000
Securities registered pursuant to Section 12(b) of the Act:
Name of each exchange
Title of each class on which registered
------------------- ----------------------
Common Shares (par value $.60 per Share) New York Stock Exchange
Boston Stock Exchange
Chicago Stock Exchange
Pacific Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports) and (2) has been subject to such
filing requirements for the past 90 days. Yes X No
-- --
Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of the registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. X
--
Common shares of the registrant outstanding at March 25, 1998 were
465,067,374. The aggregate market value, as of March 25, 1998, of voting shares
held by non-affiliates of the registrant was approximately $44.2 billion.
(Aggregate market value estimated solely for the purposes of this report. This
shall not be construed as an admission for the purposes of determining affiliate
status.)
Documents Incorporated By Reference
-----------------------------------
Parts I, II and IV: Portions of Registrant's 1997 Annual Report to Shareholders.
Part III: Portions of Registrant's Proxy Statement dated March 10, 1998.
<PAGE>
American Express Company (the "Company") hereby amends its Annual Report on
Form 10-K for the year ended December 31, 1997 to include restated Financial
Data Schedules for the following periods as a result of the Company's adoption
of Statement of Financial Accounting Standards No. 128, "Earnings per Share":
Year Ended December 31, 1996.
Year Ended December 31, 1995.
Three Months Ended March 31, 1997.
Six Months Ended June 30, 1997.
Nine Months Ended September 30, 1997.
Three Months Ended March 31, 1996.
Six Months Ended June 30, 1996.
Nine Months Ended September 30, 1996.
Accordingly, the undersigned hereby adds the following restated Exhibits to the
Company's Form 10-K for the fiscal year ended 12/31/97:
Exhibit
27.1 Restated Financial Data Schedule - year ended December 31, 1996.
27.2 Restated Financial Data Schedule - year ended December 31, 1995.
27.3 Restated Financial Data Schedule - three months ended March 31, 1997.
27.4 Restated Financial Data Schedule - six months ended June 30, 1997.
27.5 Restated Financial Data Schedule - nine months ended September 30, 1997.
27.6 Restated Financial Data Schedule - three months ended March 31, 1996.
27.7 Restated Financial Data Schedule - six months ended June 30, 1996.
27.8 Restated Financial Data Schedule - nine months ended September 30, 1996.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Company has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
AMERICAN EXPRESS COMPANY
June 30, 1998 By: /s/ Daniel T. Henry
-------------------------
Daniel T. Henry
Senior Vice President and
Comptroller
(Chief Accounting Officer)
<PAGE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Company's Consolidated Balance Sheet at December 31, 1996 and Consolidated
Statement of Income for the year ended December 31, 1996 and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<CASH> 2,677
<SECURITIES> 38,339
<RECEIVABLES> 21,213
<ALLOWANCES> 722
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 3,527
<DEPRECIATION> 1,852
<TOTAL-ASSETS> 108,512
<CURRENT-LIABILITIES> 0
<BONDS> 24,954
0
0
<COMMON> 284
<OTHER-SE> 8,244
<TOTAL-LIABILITY-AND-EQUITY> 108,512
<SALES> 0
<TOTAL-REVENUES> 16,237
<CGS> 0
<TOTAL-COSTS> 7,918
<OTHER-EXPENSES> 1,212
<LOSS-PROVISION> 3,327
<INTEREST-EXPENSE> 1,116
<INCOME-PRETAX> 2,664
<INCOME-TAX> 763
<INCOME-CONTINUING> 1,901
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 1,901
<EPS-PRIMARY> 4.02 <F1><F2>
<EPS-DILUTED> 3.89 <F2>
<FN>
<F1>Represents basic earnings per share.
<F2>Restated to reflect the Company's adoption of Statement of
Financial Accounting Standards No. 128, "Earnings per Share."
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Company's Consolidated Balance Sheet at December 31, 1995 and Consolidated
Statement of Income for the year ended December 31, 1995 and is qualified in its
entirety by reference to such financial statements, included in the Company's
Annual Report on Form 10-K for the fiscal year ended December 31, 1995.
</LEGEND>
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<CASH> 3,200
<SECURITIES> 42,561
<RECEIVABLES> 20,743
<ALLOWANCES> 829
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 3,546
<DEPRECIATION> 1,763
<TOTAL-ASSETS> 107,405
<CURRENT-LIABILITIES> 0
<BONDS> 25,224
0
200
<COMMON> 290
<OTHER-SE> 7,730
<TOTAL-LIABILITY-AND-EQUITY> 107,405
<SALES> 0
<TOTAL-REVENUES> 15,841
<CGS> 0
<TOTAL-COSTS> 7,351
<OTHER-EXPENSES> 1,523
<LOSS-PROVISION> 3,542
<INTEREST-EXPENSE> 1,242
<INCOME-PRETAX> 2,183
<INCOME-TAX> 619
<INCOME-CONTINUING> 1,564
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 1,564
<EPS-PRIMARY> 3.19 <F1><F2>
<EPS-DILUTED> 3.10 <F2>
<FN>
<F1>Represents basic earnings per share.
<F2>Restated to reflect the Company's adoption of Statement of
Financial Accounting Standards No. 128, "Earnings per Share."
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Company's Consolidated Balance Sheet at March 31, 1997 and Consolidated
Statement of Income for the three months ended March 31, 1997 and is qualified
in its entirety by reference to such financial statements, included in the
Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 1997.
</LEGEND>
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> MAR-31-1997
<CASH> 3,170
<SECURITIES> 38,140
<RECEIVABLES> 19,879
<ALLOWANCES> 715
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 3,442
<DEPRECIATION> 1,874
<TOTAL-ASSETS> 108,105
<CURRENT-LIABILITIES> 0
<BONDS> 23,655
0
0
<COMMON> 283
<OTHER-SE> 8,099
<TOTAL-LIABILITY-AND-EQUITY> 108,105
<SALES> 0
<TOTAL-REVENUES> 4,164
<CGS> 0
<TOTAL-COSTS> 1,939
<OTHER-EXPENSES> 510
<LOSS-PROVISION> 880
<INTEREST-EXPENSE> 195
<INCOME-PRETAX> 640
<INCOME-TAX> 186
<INCOME-CONTINUING> 454
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 454
<EPS-PRIMARY> 0.97 <F1><F2>
<EPS-DILUTED> 0.94 <F2>
<FN>
<F1>Represents basic earnings per share.
<F2>Restated to reflect the Company's adoption of Statement of
Financial Accounting Standards No. 128, "Earnings per Share."
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Company's Consolidated Balance Sheet at June 30, 1997 and Consolidated Statement
of Income for the six months ended June 30, 1997 and is qualified in its
entirety by reference to such financial statements, included in the Company's
Quarterly Report on Form 10-Q for the quarter ended June 30. 1997.
</LEGEND>
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<CASH> 3,472
<SECURITIES> 39,185
<RECEIVABLES> 20,701
<ALLOWANCES> 736
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 3,486
<DEPRECIATION> 1,891
<TOTAL-ASSETS> 113,927
<CURRENT-LIABILITIES> 0
<BONDS> 25,542
0
0
<COMMON> 281
<OTHER-SE> 8,543
<TOTAL-LIABILITY-AND-EQUITY> 113,927
<SALES> 0
<TOTAL-REVENUES> 8,585
<CGS> 0
<TOTAL-COSTS> 4,002
<OTHER-EXPENSES> 1,003
<LOSS-PROVISION> 1,805
<INTEREST-EXPENSE> 433
<INCOME-PRETAX> 1,342
<INCOME-TAX> 368
<INCOME-CONTINUING> 974
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 974
<EPS-PRIMARY> 2.09 <F1><F2>
<EPS-DILUTED> 2.02 <F2>
<FN>
<F1>Represents basic earnings per share.
<F2>Restated to reflect the Company's adoption of Statement of
Financial Accounting Standards No. 128, "Earnings per Share."
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Company's Consolidated Balance Sheet at September 30, 1997 and Consolidated
Statement of Income for the nine months ended September 30, 1997 and is
qualified in its entirety by reference to such financial statements, included in
the Company's Quarterly Report on Form 10-Q for the quarter ended September 30,
1997.
</LEGEND>
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> SEP-30-1997
<CASH> 4,614
<SECURITIES> 39,182
<RECEIVABLES> 21,248
<ALLOWANCES> 745
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 3,461
<DEPRECIATION> 1,877
<TOTAL-ASSETS> 117,642
<CURRENT-LIABILITIES> 0
<BONDS> 26,591
0
0
<COMMON> 280
<OTHER-SE> 8,838
<TOTAL-LIABILITY-AND-EQUITY> 117,642
<SALES> 0
<TOTAL-REVENUES> 13,086
<CGS> 0
<TOTAL-COSTS> 6,165
<OTHER-EXPENSES> 1,475
<LOSS-PROVISION> 2,712
<INTEREST-EXPENSE> 674
<INCOME-PRETAX> 2,060
<INCOME-TAX> 562
<INCOME-CONTINUING> 1,498
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 1,498
<EPS-PRIMARY> 3.22 <F1><F2>
<EPS-DILUTED> 3.12 <F2>
<FN>
<F1>Represents basic earnings per share.
<F2>Restated to reflect the Company's adoption of Statement of
Financial Accounting Standards No. 128, "Earnings per Share."
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Company's Consolidated Balance Sheet at March 31, 1996 and Consolidated
Statement of Income for the three months ended March 31, 1996 and is qualified
in its entirety by reference to such financial statements, included in the
Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 1996.
</LEGEND>
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> MAR-31-1996
<CASH> 5,629
<SECURITIES> 41,444
<RECEIVABLES> 18,580
<ALLOWANCES> 817
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 3,514
<DEPRECIATION> 1,732
<TOTAL-ASSETS> 107,910
<CURRENT-LIABILITIES> 0
<BONDS> 26,099
0
200
<COMMON> 287
<OTHER-SE> 7,505
<TOTAL-LIABILITY-AND-EQUITY> 107,910
<SALES> 0
<TOTAL-REVENUES> 3,882
<CGS> 0
<TOTAL-COSTS> 1,821
<OTHER-EXPENSES> 319
<LOSS-PROVISION> 886
<INTEREST-EXPENSE> 291
<INCOME-PRETAX> 565
<INCOME-TAX> 169
<INCOME-CONTINUING> 396
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 396
<EPS-PRIMARY> 0.82 <F1><F2>
<EPS-DILUTED> 0.80 <F2>
<FN>
<F1>Represents basic earnings per share.
<F2>Restated to reflect the Company's adoption of Statement of
Financial Accounting Standards No. 128, "Earnings per Share."
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Company's Consolidated Balance Sheet at June 30, 1996 and Consolidated Statement
of Income for the six months ended June 30, 1996 and is qualified in its
entirety by reference to such financial statements, included in the Company's
Quarterly Report on Form 10-Q for the quarter ended June 30, 1996.
</LEGEND>
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<CASH> 4,970
<SECURITIES> 41,123
<RECEIVABLES> 20,209
<ALLOWANCES> 832
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 3,560
<DEPRECIATION> 1,794
<TOTAL-ASSETS> 107,647
<CURRENT-LIABILITIES> 0
<BONDS> 24,984
0
0
<COMMON> 286
<OTHER-SE> 7,669
<TOTAL-LIABILITY-AND-EQUITY> 107,647
<SALES> 0
<TOTAL-REVENUES> 7,926
<CGS> 0
<TOTAL-COSTS> 3,737
<OTHER-EXPENSES> 652
<LOSS-PROVISION> 1,737
<INTEREST-EXPENSE> 600
<INCOME-PRETAX> 1,200
<INCOME-TAX> 351
<INCOME-CONTINUING> 849
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 849
<EPS-PRIMARY> 1.78 <F1><F2>
<EPS-DILUTED> 1.72 <F2>
<FN>
<F1>Represents basic earnings per share.
<F2>Restated to reflect the Company's adoption of Statement of
Financial Accounting Standards No. 128, "Earnings per Share."
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Company's Consolidated Balance Sheet at September 30, 1996 and Consolidated
Statement of Income for the nine months ended September 30, 1996 and is
qualified in its entirety by reference to such financial statements, included in
the Company's Quarterly Report on Form 10-Q for the quarter ended September 30,
1996.
</LEGEND>
<MULTIPLIER> 1,000,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> SEP-30-1996
<CASH> 4,884
<SECURITIES> 39,306
<RECEIVABLES> 19,272
<ALLOWANCES> 812
<INVENTORY> 0
<CURRENT-ASSETS> 0
<PP&E> 3,504
<DEPRECIATION> 1,838
<TOTAL-ASSETS> 106,667
<CURRENT-LIABILITIES> 0
<BONDS> 25,134
0
0
<COMMON> 284
<OTHER-SE> 7,959
<TOTAL-LIABILITY-AND-EQUITY> 106,667
<SALES> 0
<TOTAL-REVENUES> 11,982
<CGS> 0
<TOTAL-COSTS> 5,707
<OTHER-EXPENSES> 1,086
<LOSS-PROVISION> 2,499
<INTEREST-EXPENSE> 869
<INCOME-PRETAX> 1,821
<INCOME-TAX> 514
<INCOME-CONTINUING> 1,307
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 1,307
<EPS-PRIMARY> 2.75 <F1><F2>
<EPS-DILUTED> 2.67 <F2>
<FN>
<F1>Represents basic earnings per share.
<F2>Restated to reflect the Company's adoption of Statement of
Financial Accounting Standards No. 128, "Earnings per Share."
</FN>
</TABLE>
