AMERICAN EXPRESS CREDIT CORP - FORM 10-Q - EX-12.2 - COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES - May 8, 2012

Attached files

file filename
EX-32.2 - CERTIFICATION OF ANDERSON Y. LEE, C.F.O., PURSUANT TO SECTION 906 - AMERICAN EXPRESS CREDIT CORPd346913dex322.htm
EX-31.2 - CERTIFICATION OF ANDERSON Y. LEE, CHIEF FINANCIAL OFFICER - AMERICAN EXPRESS CREDIT CORPd346913dex312.htm
EX-12.1 - COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES - AMERICAN EXPRESS CREDIT CORPd346913dex121.htm
EX-32.1 - CERTIFICATION OF DAVID L. YOWAN, C.E.O.,PURSUANT TO SECTION 906 - AMERICAN EXPRESS CREDIT CORPd346913dex321.htm
EX-31.1 - CERTIFICATION OF DAVID L. YOWAN, CHIEF EXECUTIVE OFFICER - AMERICAN EXPRESS CREDIT CORPd346913dex311.htm
EXCEL - IDEA: XBRL DOCUMENT - AMERICAN EXPRESS CREDIT CORPFinancial_Report.xls
10-Q - FORM 10-Q - AMERICAN EXPRESS CREDIT CORPd346913d10q.htm

EXHIBIT 12.2

AMERICAN EXPRESS COMPANY

COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

           

 

 Three Months Ended

March 31, 2012

  

 

   

 

 

 

Years Ended December 31,

 

            2011        2010        2009     

2008

Earnings:

                 

Pretax income from continuing operations

       $ 1,773      $ 6,956      $ 5,964      $ 2,841      $      3,581

Interest expense(a)

         574        2,320        2,423        2,208      3,628

Other adjustments(b)

         (12 )       124        126        129      144

 

      

 

 

     

 

 

     

 

 

     

 

 

     

 

Total earnings

      $ 2,335      $     9,400      $     8,513      $     5,178      $      7,353

 

      

 

 

     

 

 

     

 

 

     

 

 

     

 

Fixed charges:

                 

Interest expense

      $ 574      $ 2,320      $ 2,423      $ 2,208      $      3,628

Other adjustments(c)

         22        94        85        121      114

 

      

 

 

     

 

 

     

 

 

     

 

 

     

 

Total fixed charges

      $ 596      $ 2,414      $ 2,508      $ 2,329      $      3,742

 

      

 

 

     

 

 

     

 

 

     

 

 

     

 

Ratio of earnings to fixed charges

        3.92        3.89        3.39        2.22      1.96

 

 

  (a)

Included in interest expense 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.

 

  (b)

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 noncontrolling 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.

 

  (c)

For purposes of the “fixed charges” computation, “other adjustments” include capitalized interest costs and the interest component of rental expense.

AMERICAN EXPRESS CREDIT CORP Reports