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): February 27, 2009
AMERICAN EXPRESS COMPANY
(Exact name of registrant as specified in its charter)
New York 1-7657 13-4922250
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
200 Vesey Street, World Financial Center
New York, New York 10285
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 640-2000
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
American Express Company (the "Company") is furnishing the following
information under Item 7.01 - Regulation FD Disclosure:
On January 26, 2009, the Company issued its press release announcing its
results for the quarter and year ended December 31, 2008, and its 2008 Fourth
Quarter/Full Year Earnings Supplement. Subsequent to that date, the Company
determined that adjustments were required as a result of a calculation error
impacting the amount of ineffectiveness recorded for its fair value hedges. The
adjustments resulted in a $108 million reduction in Other Expenses, net, and an
increase of $68 million in Net Income. Net Income for the quarter and year ended
December 31, 2008, was $240 million and $2.70 billion, respectively, compared to
the $172 million and $2.63 billion, respectively, announced on January 26th.
Earnings Per Share - Diluted for the quarter and year ended December 31, 2008,
increased to $0.21 and $2.33, respectively, from $0.15 and $2.27, respectively.
Changes to previously announced segment income (loss) affected by these
adjustments described above are as follows:
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(Millions)
Segment Segment
Income (Loss) - Income (Loss) -
Previously Announced As Adjusted
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Three months
ended 12/31/2008
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U.S. Card Services $4 $64
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Global Commercial $(18) $(7)
Services
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Year ended 12/31/2008
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U.S. Card Services $792 $852
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Global Commercial $494 $505
Services
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In addition to the impacts on the two reporting segments shown above, the
Corporate segment net income decreased by approximately $2 million.
The adjustments discussed above have been reflected in the Company's Annual
Report on Form 10-K for the year ended December 31, 2008, which was filed with
the Securities and Exchange Commission on February 27, 2009.
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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
Name: Stephen P. Norman
Title: Secretary
DATE: February 27, 2009
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