AMERICAN EXPRESS CO - FORM 10-Q - EX-12 - April 29, 2015

Attached files

file filename
EXCEL - IDEA: XBRL DOCUMENT - AMERICAN EXPRESS COFinancial_Report.xls
10-Q - FORM 10-Q - AMERICAN EXPRESS COd914131d10q.htm
EX-3.1 - AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF AMERICAN EXPRESS COMPANY - AMERICAN EXPRESS COd914131dex31.htm
EX-32.1 - EX-32.1 - AMERICAN EXPRESS COd914131dex321.htm
EX-31.2 - EX-31.2 - AMERICAN EXPRESS COd914131dex312.htm
EX-10.1 - DEFERRED COMPENSATION PLAN FOR DIRECTORS DEFERRED COMPENSATION PLAN FOR DIRECTORS - AMERICAN EXPRESS COd914131dex101.htm
EX-32.2 - EX-32.2 - AMERICAN EXPRESS COd914131dex322.htm
EX-10.2 - AMENDMENT NO. 2 TO AMENDED AND RESTATED AMENDMENT NO. 2 TO AMENDED AND RESTATED - AMERICAN EXPRESS COd914131dex102.htm
EX-31.1 - EX-31.1 - AMERICAN EXPRESS COd914131dex311.htm

EXHIBIT 12

AMERICAN EXPRESS COMPANY

COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in Millions)

 

                                                                                               

 

      
 		 Three Months Ended
March 31, 2015		   
  		     Years Ended December 31,
         2014        2013        2012       2011     

2010

Earnings:

               

Pretax income from continuing operations

     $ 2,316     $ 8,991        7,888      $ 6,451     $ 6,956     $      5,964

Interest expense(a)

       410       1,707        1,958        2,226       2,320     2,423

Other adjustments(b)

       68       402        133        117       124     126
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

Total earnings

     $ 2,794     $ 11,100        9,979      $ 8,794     $ 9,400     $      8,513

Fixed charges:

              

Interest expense

     $ 410     $ 1,707        1,958      $ 2,226     $ 2,320     $      2,423

Other adjustments(c)

       15       79        93        102       94     85
    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

Total fixed charges

     $ 425     $ 1,786        2,051      $ 2,328     $ 2,414     $      2,508

Ratio of earnings to fixed charges

       6.57       6.22        4.87        3.78       3.89     3.39

 

 

  (a)

Included in interest expense is interest expense related to the Card Member 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. The Company’s 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 the Company, 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 CO Reports