Attached files
file | filename |
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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-32.1 - EX-32.1 - AMERICAN EXPRESS CREDIT CORP | y90629xexv32w1.htm |
EX-31.2 - EX-31.2 - AMERICAN EXPRESS CREDIT CORP | y90629xexv31w2.htm |
EX-12.1 - EX-12.1 - AMERICAN EXPRESS CREDIT CORP | y90629xexv12w1.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 12.2
AMERICAN EXPRESS COMPANY
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: |
|||||||||||||||||||
Pretax income from
continuing
operations |
$ | 3,497 | $ | 5,964 | $ | 2,841 | $ | 3,581 | $ | 5,694 | |||||||||
Interest expense |
1,170 | 2,423 | 2,208 | 3,628 | 4,525 | ||||||||||||||
Other adjustments |
67 | 126 | 129 | 144 | 143 | ||||||||||||||
Total earnings (a) |
$ | 4,734 | $ | 8,513 | $ | 5,178 | $ | 7,353 | $ | 10,362 | |||||||||
Fixed charges: |
|||||||||||||||||||
Interest expense |
$ | 1,170 | $ | 2,423 | $ | 2,208 | $ | 3,628 | $ | 4,525 | |||||||||
Other adjustments |
40 | 85 | 121 | 114 | 106 | ||||||||||||||
Total fixed charges (b) |
$ | 1,210 | $ | 2,508 | $ | 2,329 | $ | 3,742 | $ | 4,631 | |||||||||
Ratio of earnings to fixed charges (a/b) |
3.91 | 3.39 | 2.22 | 1.96 | 2.24 | ||||||||||||||
Included in interest expense in the above computation is interest expense related to the cardmember
lending activities, international banking operations and charge card and other activities in the
Consolidated Statements of Income. Interest expense does not include interest on liabilities
recorded under GAAP governing accounting for uncertainty in income taxes. American Express policy
is to classify such interest in income tax provision in the Consolidated Statements of Income.
For purposes of the earnings computation, other adjustments include adding the amortization of
capitalized interest, the net loss of affiliates accounted for under the equity method whose debt
is not guaranteed by American Express, the non controlling 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 under the equity method.
For purposes of the fixed charges computation, other adjustments include capitalized interest
costs and the interest component of rental expense.