Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - AMERICAN EXPRESS CREDIT CORP | Financial_Report.xls |
| 10-Q - FORM 10-Q - AMERICAN EXPRESS CREDIT CORP | y90629xe10vq.htm |
| EX-10.1 - EX-10.1 - AMERICAN EXPRESS CREDIT CORP | y90629xexv10w1.htm |
| EX-12.2 - EX-12.2 - AMERICAN EXPRESS CREDIT CORP | y90629xexv12w2.htm |
| EX-32.1 - EX-32.1 - AMERICAN EXPRESS CREDIT CORP | y90629xexv32w1.htm |
| EX-31.2 - EX-31.2 - AMERICAN EXPRESS CREDIT CORP | y90629xexv31w2.htm |
| EX-31.1 - EX-31.1 - AMERICAN EXPRESS CREDIT CORP | y90629xexv31w1.htm |
| EX-32.2 - EX-32.2 - AMERICAN EXPRESS CREDIT CORP | y90629xexv32w2.htm |
EXHIBIT 12.1
AMERICAN EXPRESS CREDIT CORPORATION
COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
| Six Months | ||||||||||||||||||||
| Ended | Years Ended December 31, | |||||||||||||||||||
| June 30, 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
Earnings: |
||||||||||||||||||||
Net income |
$ | 176 | $ | 348 | $ | 362 | $ | 864 | $ | 725 | ||||||||||
Income tax (benefit) provision |
(3 | ) | (24 | ) | 8 | 132 | 60 | |||||||||||||
Interest expense |
336 | 598 | 629 | 1,618 | 2,046 | |||||||||||||||
Total earnings (a) |
$ | 509 | $ | 922 | $ | 999 | $ | 2,614 | $ | 2,831 | ||||||||||
Fixed
charges — Interest expense (b) |
$ | 336 | $ | 598 | $ | 629 | $ | 1,618 | $ | 2,046 | ||||||||||
Ratio of earnings to fixed charges (a/b) |
1.51 | 1.54 | 1.59 | 1.62 | 1.38 | |||||||||||||||
Interest expense does not include interest on liabilities recorded in accordance with GAAP
governing unrecognized tax benefits. Credco’s policy is to classify such interest in income tax
provision in the Consolidated Statements of Income and Retained Earnings.