What changed in this filing

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Item 9A. Controls and Procedures

2022-02-11 compared with 2021-02-12 · 36 added, 35 removed, 454 unchanged (14% of the section changed)

6 unchanged sentences

Not applicable.

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

Not applicable.

ITEMS 10, 11, 12 and 13.

33 unchanged sentences

Exhibits numbered 10.1 through 10.40 are management contracts or compensatory plans or arrangements.

3.1 Company's Amended and Restated Certificate of Incorporation as amended through February 27, 2015 (incorporated by reference to Exhibit 3.1 of the Company's Quarterly Report on Form 10-Q (Commission File No.

1-7657) for the quarter ended March 31, 2015).

3.1 Company's Amended and Restated Certificate of Incorporation as amended through August 2 , 202 1 (incorporated by reference to Exhibit 3.1 of the Company's Q u a rterly R eport on Form 10-Q (Commission File No.

1-7657) for the quarter ended September 30, 2021) .

3.2 Company's By-Laws, as amended through September 26, 2016 (incorporated by reference to Exhibit 3.1 of the Company's Current Report on Form 8-K (Commission File No.

1-7657), dated September 26, 2016).

1-7657), dated September 26, 2016 ( f iled September 27, 2016) ) .

4.1 The instruments defining the rights of holders of long-term debt securities of the Company and its subsidiaries are omitted pursuant to Section (b)(4)(iii)(A) of Item 601 of Regulation S-K.

The Company hereby agrees to furnish copies of these instruments to the SEC upon request.

*4.2 Description of American Express Company’s securities registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended.

4.2 Description of American Express Company’s securities registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (incorporated by reference to Exhibit 4.2 of the Company's Annual Report on Form 10-K (Commission File No.

1-7657) for the year ended December 31, 2020).

10.1 American Express Company Deferred Compensation Plan for Directors and Advisors, as amended and restated effective April 1, 2018 (incorporated by reference to Exhibit 10.3 of the Company's Quarterly Report on Form 10-Q (Commission File No.

54 unchanged sentences

1-7657) for the year ended December 31, 2018).

* 10.29 Eleventh Amendment to the American Express Retirement Restoration Plan (f/k/a Supplemental Retirement Plan) (dated December 9, 2021).

10.30 American Express Company 2003 Share Equivalent Unit Plan for Directors, as amended and restated, effective January 1, 2015 (incorporated by reference to Exhibit 10.38 of the Company's Annual Report on Form 10-K (Commission File No.

4 unchanged sentences

1-7657), dated April 23, 2007 (filed April 27, 2007)).

10.32 American Express Company 2007 Incentive Compensation Plan Master Agreement (as amended and restated effective January 1, 2011) (incorporated by reference to Exhibit 10.8 of the Company's Annual Report on Form 10-K (Commission File No.

1-7657) for the year ended December 31, 2010).

10.33 American Express Company 2007 Incentive Compensation Plan Master Agreement (as amended and restated effective January 23, 2012) (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K (Commission File No.

3 unchanged sentences

10.35 American Express Company 2016 Incentive Compensation Plan (as amended and restated effective May 5, 2020) (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K (Commission File No.

1-7657), dated May 5, 2020).

1-7657), dated May 5, 2020 (filed May 7, 2020) ).

10.36 Form of nonqualified stock option award agreement for executive officers under the American Express Company 2016 Incentive Compensation Plan (for awards made after May 2, 2016) (incorporated by reference to Exhibit 10.41 of the Company's Annual Report on Form 10-K (Commission File No.

4 unchanged sentences

1-7657) for the year ended December 31, 2016).

10.39 Form of award agreement for executive officers in connection with Portfolio Grant awards under the American Express Company 2016 Incentive Compensation Plan (for awards made after May 2, 2016) (incorporated by reference to Exhibit 10.44 of the Company's Annual Report on Form 10-K (Commission File No.

1-7657) for the year ended December 31, 2016).

10.39 Amendment to the Form of nonqualified stock option award agreement and Form of restricted stock unit award for executive officers under the American Express Company 2016 Incentive Compensation Plan (for awards made after January 29, 2020) (incorporated by reference to Exhibit 10.41 of the Company's Annual Report on Form 10-K (Commission File No.

3 unchanged sentences

10.41 Restated Letter Agreement, dated May 6, 2019, between American Express Company and Berkshire Hathaway Inc., on behalf of itself and its subsidiaries (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K (Commission File No.

1-7657), dated May 6, 2019).

1-7657), dated May 6, 2019 (filed May 6, 2019) ).

10.42 Time Sharing Agreement, dated February 13, 2018, by and between American Express Travel Related Services Company, Inc.

15 unchanged sentences

and Stephen J.

Squeri (incorporated by reference to Exhibit 10.46 of the Company's Annual Report on Form 10-K (Commission File No.

1-7657) for the year ended December 31, 2020).

* 10.46 Amendment No.

4, dated December 2 8 , 2021, to the Time Sharing Agreement, dated February 13, 2018, by and between American Express Travel Related Services Company, Inc.

and Stephen J.

* 21 Subsidiaries of the Company.

22 unchanged sentences

/s/ JEFFREY C.

Chief Financial Officer

Vice Chairman and Chief Financial Officer

February 11, 2022

1 unchanged sentence

/s/ STEPHEN J.

SQUERI /s/ MICHAEL O.

Chairman, Chief Executive Officer and Director Michael O.

SQUERI /s/ THEODORE J.

Chairman, Chief Executive Officer and Director Theodore J.

/s/ JEFFREY C.

CAMPBELL /s/ THEODORE J.

Chief Financial Officer Theodore J.

/s/ JESSICA LIEBERMAN QUINN /s/ KAREN L.

CAMPBELL /s/ KAREN L.

Vice Chairman and Chief Financial Officer Karen L.

/s/ JESSICA LIEBERMAN QUINN /s/ CHARLES E.

PHILLIPS, JR.

Jessica Lieberman Quinn

Executive Vice President and Corporate Controller

(Principal Accounting Officer) Karen L.

(Principal Accounting Officer) Charles E.

Phillips, Jr.

/s/ THOMAS J.

BALTIMORE, JR.

/s/ CHARLES E.

PHILLIPS, JR.

Baltimore, Jr.

Phillips, Jr.

/s/ CHARLENE BARSHEFSKY /s/ LYNN A.

/s/ CHARLENE BARSHEFSKY /s/ DANIEL L.

Charlene Barshefsky

Director Lynn A.

BRENNAN /s/ DANIEL L.

Director Daniel L.

BRENNAN /s/ LISA W.

Director Lisa W.

/s/ PETER CHERNIN /s/ RONALD A.

4 unchanged sentences

Director Christopher D.

/s/ ANNE LAUVERGEON

Anne Lauvergeon

/s/ MICHAEL O.

February 11, 2022

1 unchanged sentence

The accompanying supplemental information should be read in conjunction with the “MD&A”, “Consolidated Financial Statements” and notes thereto.

Certain reclassifications of prior period amounts have been made to conform to the current period presentation.

These reclassifications did not have a material impact on our financial position or results of operations.

Distribution of Assets, Liabilities, and Shareholders’ Equity;

34 unchanged sentences

Primarily U.S.

16 4 n.m 38 8 n.m.

Total interest-earning assets (e)

1 unchanged sentence

108,588 7,837 115,909 8,758 105,709 10,559

12,967 1,196 12,417 1,325 13,355 1,525

Denotes rates determined to not be meaningful.

48 unchanged sentences

Demand 692 2 0.3 752 5 0.7 447 9 2.0

Other time and savings 11 1 9.1 16 1 6.3 21 1 4.8

Other demand 11 3 27.3 10 4 40.0 12 4 33.3

Time 8 — — 11 1 9.1 16 1 6.3

Other deposits 11 3 27.3 11 3 27.3 10 4 40.0

Short-term borrowings

57 unchanged sentences

(3) (4) (7) 7 (11) (4)

— (1) (1) — — —

Card Member loans

16 unchanged sentences

Demand — (3) (3) 6 (10) (4)

Other time and savings — — — — — —

Other demand — (1) (1) (1) 1 —

Time — (1) (1) — — —

Other deposits — — — — (1) (1)

Short-term borrowings

35 unchanged sentences

Credit Quality Indicators for Loans and Card Member Receivables

As a result of the adoption of CECL on January 1, 2020, there is a lack of comparability in both the reserves and provisions for credit losses for the periods presented.

Results for reporting periods beginning after January 1, 2020 are presented using the CECL methodology, while comparative information continues to be reported in accordance with the incurred loss methodology in effect for prior periods.

Refer to Note 1 and Note 3 to the “Consolidated Financial Statements” for further information.

The following table summarizes the ratio of all loans and Card Member receivables categories.

29 unchanged sentences

(d) Represents the reserve for credit losses as a percentage of total loans and Card Member receivables.

Refer to “Maturities and Sensitivities to Changes in Interest Rates” for total outstanding balance of loans and Card Member receivables.

Refer to “Maturities and Sensitivities to Changes in Interest Rates” for total outstanding balances of loans and Card Member receivables.

(e) Represents percentage of non-accrual loans to total loans.

35 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures