Consolidated Five-year Summary of Selected Financial Data (Millions, except per share amounts and percentages) 2002 2001 2000 1999 1998 Operating Results Revenues $ 23,807 $ 22,582 $ 23,675 $ 21,278 $ 19,132 Percent increase (decrease) 5% (5)% 11% 11% 8% Expenses 20,080 20,986 19,767 17,840 16,207 Net income (a) 2,671 1,311 2,810 2,475 2,141 Return on average shareholders’ equity (b) 20.6% 10.9% 25.3% 25.3% 24.0% Balance Sheet Cash and cash equivalents $ 10,288 $ 7,222 $ 8,487 $ 7,471 $ 4,092 Accounts receivable and accrued interest, net 29,087 29,498 30,543 26,467 22,224 Investments 53,638 46,488 43,747 43,052 41,299 Loans, net 27,822 26,440 26,088 23,582 21,054 Total assets 157,253 151,100 154,423 148,517 126,933 Customers’ deposits 18,317 14,557 13,870 13,139 10,398 Travelers Cheques outstanding 6,623 6,190 6,127 6,213 5,823 Insurance and annuity reserves 28,683 24,536 24,098 25,011 25,433 Short-term debt 21,103 31,569 36,030 30,627 22,605 Long-term debt 16,308 7,788 4,711 5,995 7,019 Shareholders’ equity 13,861 12,037 11,684 10,095 9,698 Common Share Statistics Earnings per share: (a) Basic $ 2.02 $ 0.99 $ 2.12 $ 1.85 $ 1.57 Diluted $ 2.01 $ 0.98 $ 2.07 $ 1.81 $ 1.54 Percent (decrease) increase: Basic ‡ (53)% 15% 18% 10% Diluted ‡ (53)% 14% 18% 12% Cash dividends declared per share $ 0.32 $ 0.32 $ 0.32 $ 0.30 $ 0.30 Book value per share: Actual $ 10.63 $ 9.05 $ 8.81 $ 7.52 $ 7.18 Excluding the effect on shareholders’ equity of SFAS No. 115 and SFAS No. 133 $ 10.19 $ 9.02 $ 8.92 $ 7.74 $ 6.75 Market price per share: High $ 44.91 $ 57.06 $ 63.00 $ 56.29 $ 39.54 Low $ 26.55 $ 24.20 $ 39.83 $ 31.63 $ 22.33 Close $ 35.35 $ 35.69 $ 54.94 $ 55.42 $ 34.17 Average common shares outstanding for earnings per share: Basic 1,320 1,324 1,327 1,340 1,363 Diluted 1,330 1,336 1,360 1,369 1,388 Shares outstanding at year end 1,305 1,331 1,326 1,341 1,351 Other Statistics Number of employees at year end: United States 41,093 48,698 53,352 52,858 50,266 Outside United States 34,366 35,719 35,498 35,520 34,466 Total 75,459 84,417 88,850 88,378 84,732 Number of shareholders of record 51,061 52,041 53,884 56,020 51,597 (a) Results for 2001 include three significant items: (1) a charge of $1.01 billion ($669 million after-tax) reflecting losses associated with high-yield securities recorded during the first half of 2001; (2) restructuring charges of $631 million ($411 million after-tax); and (3) the one-time adverse impact from the September 11th terrorist attacks of $98 million ($65 million after-tax). Results for 1998 include the following items: $138 million credit loss provision at American Express Bank relating to its Asia/Pacific portfolio and income of $78 million representing gains on the sale of First Data Corporation shares. (b) Computed on a trailing 12-month basis and excluding the effect on Shareholders’ Equity of unrealized gains or losses related to SFAS No. 115 and SFAS No. 133. ‡ — Denotes a variance of more than 100%. I 87 AXP I CONSOLIDATED FIVE-YEAR SUMMARY OF SELECTED FINANCIAL DATA