UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
Amendment No. 1
[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended September 30, 1995 or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the Transition Period from to
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Commission file number 1-6908
AMERICAN EXPRESS CREDIT CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 11-1988350
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
One Rodney Square, Wilmington, Delaware 19801
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (302) 594-3350
None
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Former name, former address and former fiscal year, if changed since last
report.
THE REGISTRANT MEETS THE CONDITIONS SET FORTH IN GENERAL INSTRUCTION H(1)(a)
AND (b) OF FORM 10-Q AND HAS THEREFORE OMITTED CERTAIN ITEMS FROM THIS REPORT
IN ACCORDANCE WITH THE REDUCED DISCLOSURE FORMAT PERMITTED UNDER GENERAL
INSTRUCTION H(2).
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 the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
Class Outstanding at November 14, 1995
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Common Stock, $.10 par value 1,504,938 shares
<PAGE>
This amendment is being filed to amend Item 6 and the Exhibit Index to
reflect the fact that Exhibit 12.2 is filed with this report rather than
incorporated by reference and to file Exhibit 12.2 herewith.
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits:
12.1 Computation in support of ratio of earnings to fixed
charges of American Express Credit Corporation.
12.2 Computation in support of ratio of earnings to fixed
charges of American Express Company.
27. Financial data schedule.
(b) Reports on Form 8-K
None.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed by the undersigned,
thereunto duly authorized.
AMERICAN EXPRESS CREDIT CORPORATION
(Registrant)
Date: November 15, 1995 By /s/ Robert M. Pyle, Jr.
--------------------------
Robert M. Pyle, Jr.
Secretary
EXHIBIT INDEX
Exhibit No. Description How Filed
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12.2 Computation in support of ratio of Electronically
earnings to fixed charges of filed herewith.
American Express Company.
<PAGE>
<PAGE>
EXHIBIT 12.2
AMERICAN EXPRESS COMPANY
COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
Nine Months Years Ended December 31,
Ended September 30, -----------------------------
1995 1994 1993 1992 1991
------------------- ---- ---- ---- ----
Earnings:
Pretax income from
continuing operations $1,641 $1,891 $2,326 $ 896 $ 622
Interest expense 1,749 1,925 1,783 2,171 2,761
Other adjustments 62 103 88 196 142
----- ----- ----- ----- -----
Total earnings (a) $3,452 $3,919 $4,197 $3,263 $3,525
----- ----- ----- ----- -----
Fixed charges:
Interest expense $1,749 $1,925 $1,783 $2,171 $2,761
Other adjustments 101 142 130 154 147
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Total fixed charges (b) $1,850 $2,067 $1,913 $2,325 $2,908
----- ----- ----- ----- -----
Ratio of earnings to
fixed charges (a/b) 1.87 1.90 2.19 1.40 1.21
Included in interest expense in the above computation is interest expense
related to the Company's international banking operations and Travel
Related Services' consumer lending activities, which is netted against
interest and dividends in the Consolidated Statement of Income.
For purposes of the "earnings" computation, other adjustments include
adding the amortization of capitalized interest, the net loss of
affiliates accounted for at equity whose debt is not guaranteed by the
Company, the minority interest in the earnings of majority-owned
subsidiaries with fixed charges, and the interest component of rental
expense and subtracting undistributed net income of affiliates accounted
for at equity.
For purposes of the "fixed charges" computation, other adjustments include
capitalized interest costs and the interest component of rental expense.
On May 31, 1994, the Company completed the spin-off of Lehman Brothers
through a dividend to American Express common shareholders. Accordingly,
Lehman Brothers' results are reported as a discontinued operation and are
excluded from the above computation for all periods presented. In March
1993, the Company reduced its ownership in First Data Corporation to
approximately 22 percent through a public offering. As a result, beginning
in 1993 FDC is reported as an equity investment in the above computation.
