UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) OCTOBER 17, 2005
AMERICAN EXPRESS COMPANY
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(Exact Name of Registrant as Specified in Its Charter)
NEW YORK
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(State or Other Jurisdiction of Incorporation)
1-7657 13-4922250
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(Commission File Number) (IRS Employer Identification No.)
200 VESEY STREET, WORLD FINANCIAL CENTER,
NEW YORK, NEW YORK 10285
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(Address of Principal Executive Offices) (Zip Code)
(212) 640-2000
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(Registrant's Telephone Number, Including Area Code)
None
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (see General Instruction A.2. below):
/ / Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
/ / Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
/ / Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
/ / Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 7.01 REGULATION FD DISCLOSURE
NEW SEGMENT PRESENTATION
Effective September 30, 2005, American Express Company (the Company or
American Express) realigned its segment presentation to reflect the spin-off
of Ameriprise Financial, Inc. (Ameriprise), formerly known as American Express
Financial Corporation. The new segments are: U.S. Card Services, International
Card & Global Commercial Services, Global Network & Merchant Services, and
Corporate & Other. Financial and other information reflecting the realignment
of the Company's segments is attached to this report as Exhibit 99.1 and is
incorporated herein by reference.
U.S. Card Services includes the U.S. proprietary consumer card business, OPEN:
The Small Business Network from American Express, the Travelers Cheques and
Prepaid Services business and the American Express U.S. Consumer Travel
Network. Charge and credit cards generate revenue for the Company primarily
through discount revenue, net finance charge revenue and card fees. Prepaid
Services, including Travelers Cheques, earn investment income as cash is
invested prior to encashment of Travelers Cheques or use of other prepaid
products, in addition to other fees.
International Card & Global Commercial Services provides proprietary consumer
cards and small business cards outside the United States. International Card &
Global Commercial Services also offers global corporate products and services,
including Corporate Card, issued to individuals through a corporate account
established by their employer; Business Travel, which helps businesses manage
their travel expenses through a variety of travel-related products and
services; and Corporate Purchasing Solutions, an account established by a
company to pay for everyday business expenses such as office and computer
supplies. International Card & Global Commercial Services also includes
American Express Bank Ltd. which provides financial products and services to
retail customers and wealthy individuals outside the United States and
financial institutions around the world.
International Card & Global Commercial Services derives its revenues from a
number of sources including discount revenue from business billed on its
proprietary card and corporate payment and expense management products, net
finance charge revenue, net interest income from its international banking
operation and various revenues and fees from its corporate travel management
services and other products.
Global Network & Merchant Services consists of the Merchant Services
businesses and Global Network Services. The Global Merchant Services
businesses develop and manage relationships with merchants that accept
American Express branded cards; authorize and record transactions; pay
merchants; and provide a variety of value-added point-of-sale and back office
services. Global Network Services develops and manages relationships with
third parties that issue American Express branded cards and/or establish
relationships with merchants to accept American Express branded cards. In
addition, in particular emerging markets, issuance of certain proprietary
cards is managed within the Global Network Services business. Global Network
& Merchant Services works with merchant and bank partners to develop and
market product propositions, operate systems that enable third parties to
interface with the American Express global network and provide network
functions that include operations, service delivery, systems, authorization,
clearing, settlement and brand advertising, new product development and
marketing.
Global Network & Merchant Services derives its revenues primarily from
discount revenue charged to merchants. Other revenues include royalties,
contributions from joint venture partnerships and fees charged to merchants
and partners for value-added services.
Corporate & Other consists of corporate functions and auxiliary businesses
including American Express Publishing and the leasing product line of the
Company's small business financing unit, American Express Business Finance
Corporation, which was sold in 2004.
EXHIBIT
99.1 Unaudited Selected Consolidated Statements of Income for the six
months ended June 30, 2005 and 2004, and for the quarters ended June
30, 2005, 2004 and 2003; March 31, 2005, 2004 and 2003; September
30, 2004 and 2003; and December 31, 2004 and 2003.
Unaudited Selected Financial Information by Segment for the quarters
ended June 30, 2005 and 2004; March 31, 2005 and 2004; September 30,
2004; and December 31, 2004.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMERICAN EXPRESS COMPANY
(REGISTRANT)
By: /s/ Stephen P. Norman
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Name: Stephen P. Norman
Title: Secretary
DATE: October 17, 2005
EXHIBIT INDEX
Item No Description
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99.1 Unaudited Selected Consolidated Statements of Income for the six
months ended June 30, 2005 and 2004, and for the quarters ended June
30, 2005, 2004 and 2003; March 31, 2005, 2004 and 2003; September
30, 2004 and 2003; and December 31, 2004 and 2003.
Unaudited Selected Financial Information by Segment for the quarters
ended June 30, 2005 and 2004; March 31, 2005 and 2004; September 30,
2004; and December 31, 2004.