Attached files
| file | filename |
|---|---|
| 10-K - AMERICAN EXPRESS CREDIT CORP | c60835_10-k.htm |
| EX-32.1 - AMERICAN EXPRESS CREDIT CORP | c60835_ex32-1.htm |
| EX-31.2 - AMERICAN EXPRESS CREDIT CORP | c60835_ex31-2.htm |
| EX-23.1 - AMERICAN EXPRESS CREDIT CORP | c60835_ex23-1.htm |
| EX-32.2 - AMERICAN EXPRESS CREDIT CORP | c60835_ex32-2.htm |
| EX-31.1 - AMERICAN EXPRESS CREDIT CORP | c60835_ex31-1.htm |
| EX-12.2 - AMERICAN EXPRESS CREDIT CORP | c60835_ex12-2.htm |
EXHIBIT 12.1
COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES
AMERICAN EXPRESS CREDIT CORPORATION
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Years Ended December 31, |
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(Dollars in Millions) |
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2009 |
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2008 |
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2007 |
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2006 |
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2005 |
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Earnings: |
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Net income |
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$ |
362 |
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$ |
864 |
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$ |
725 |
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$ |
622 |
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$ |
415 |
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Income tax provision |
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8 |
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132 |
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60 |
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95 |
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50 |
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Interest expense |
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629 |
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1,618 |
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2,046 |
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1,614 |
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1,141 |
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Total earnings (a) |
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$ |
999 |
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$ |
2,614 |
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$ |
2,831 |
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$ |
2,331 |
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$ |
1,606 |
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Fixed charges – interest expense (b) |
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$ |
629 |
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$ |
1,618 |
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$ |
2,046 |
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$ |
1,614 |
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$ |
1,141 |
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Ratio of earnings to fixed charges (a/b) |
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1.59 |
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1.62 |
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1.38 |
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1.44 |
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1.41 |
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Interest expense does not include interest on liabilities recorded under GAAP governing accounting for uncertainty in income taxes as Credco’s policy is to classify such interest in the income tax provision in the Consolidated Statements of Income.