SELECTED STATISTICAL INFORMATION (continued) TRS’ owned portfolio is primarily comprised of cardmember receivables generated by the company’s charge card products, unsecuritized U.S. cardmember loans, international cardmember loans and unsecuritized equipment leasing receivables. As discussed more fully in Financing Activities, the company securitizes U.S. cardmember loans as part of its financing strategy; consequently, the level of unsecuritized U.S. cardmember loans is primarily a function of the company’s financing requirements. As a portfolio, unsecuritized U.S. cardmember loans tend to be less seasoned than securitized loans, primarily because of the lead time required to designate and securitize each loan. The company does not securitize international loans. Delinquency, reserve coverage and net write-off rates have historically been generally comparable between the company’s owned and managed portfolios. I 40 AXP I FINANCIAL REVIEW (Billions, except percentages and where indicated) Years Ended December 31, 2002 2001 2000 Charge card receivables: Total receivables $ 26.3 $ 26.2 $ 29.0 90 days past due as a % of total 2.2% 2.9% 2.3% Loss reserves (millions) $ 930 $ 1,032 $ 964 % of receivables 3.5% 3.9% 3.3% % of 90 days past due 162% 136% 142% Net loss ratio 0.38% 0.42% 0.36% U.S. Lending — Owned Basis: Total loans $ 17.1 $ 16.9 $ 17.4 Past due loans as a % of total: 30 – 89 days 2.0% 2.0% 1.7% 90+ days 1.3% 1.3% 0.8% Loss reserves (millions): Beginning balance $ 668 $ 553 $ 505 Provision 954 998 663 Net charge-offs/other (824) (883) (615) Ending balance $ 798 $ 668 $ 553 % of loans 4.7% 3.9% 3.2% % of past due 143% 120% 124% Average loans $ 15.3 $ 16.9 $ 14.9 Net write-off rate 5.9% 5.5% 4.4% U.S. Lending — Managed Basis: Total loans $ 34.3 $ 32.0 $ 28.7 Past due loans as a % of total: 30 – 89 days 1.9% 2.1% 1.9% 90+ days 1.2% 1.2% 0.9% Loss reserves (millions): Beginning balance $ 1,077 $ 820 $ 672 Provision 2,053 1,933 1,258 Net charge-offs/other (1,833) (1,676) (1,110) Ending balance $ 1,297 $ 1,077 $ 820 % of loans 3.8% 3.4% 2.9% % of past due 120% 101% 104% Average loans $ 32.0 $ 30.7 $ 25.8 Net write-off rate 6.0% 5.6% 4.4% Net interest yield 9.8% 8.8% 7.6%