01—Abstract
Summary
Summary of the 10-K/A filed February 29, 2012. Cited figures are marked; the original filing is the authoritative source.
This filing is an amendment (10-K/A) to American Express Company's (AXP) 2011 Annual Report, primarily to correct a minor error in the number of common shares outstanding as of February 22, 2012, on the cover page.
The corrected number of outstanding shares is 1,166,477,118. The amendment also includes new Section 302 Sarbanes-Oxley certifications but does not alter any financial statements or other disclosures from the original filing dated February 24, 2012. For investors, this amendment signifies a technical correction rather than a change in financial performance or strategic direction.
The core financial data and business insights remain as presented in the original 10-K. Investors should refer to the original filing for detailed financial information and analysis of the company's operations for the year ended December 31, 2011. The annual shareholder meeting is scheduled for April 30, 2012.
02—Key points
Key Highlights
- Correction of common shares outstanding: The primary purpose of this filing is to correct the number of outstanding common shares as of February 22, 2012, to 1,166,477,118.
- No financial statement changes: This amendment does not modify or update any financial statements from the original filing.
- Technical amendment only: The filing is administrative in nature and does not reflect any new business developments or performance changes.
- Sarbanes-Oxley certifications updated: New Section 302 certifications are included as required by regulatory updates, though certain paragraphs are omitted as no financial statements were amended.
- Original filing remains the primary source: Investors should consult the original Form 10-K filed on February 24, 2012, for substantive financial and operational details.
- Upcoming shareholder meeting: The report references the Annual Meeting of Shareholders scheduled for April 30, 2012, where proxy statement information will be provided.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-K/AFY2011filed February 29, 2012Financial Statements
FY2011 against FY2010
| Line item | FY2011FY2010 | Change |
|---|---|---|
| Operating Income | $4.90B$4.06B | +20.8% |
| Interest Expense | $2.32B$2.42B | −4.3% |
| Net Income | $4.93B$4.06B | +21.6% |
| EPS (Basic) | $4.14$3.37 | +22.8% |
| EPS (Diluted) | $4.12$3.35 | +23.0% |
| Shares Outstanding (Basic) | 1.18B1.19B | −0.8% |
| Shares Outstanding (Diluted) | 1.18B1.20B | −0.9% |
05—Questions
Frequently Asked Questions
What is the main reason for this amended filing?
The main reason for this amended filing is to correct a clerical error on the cover page of the original 10-K regarding the exact number of common shares outstanding as of February 22, 2012. The correct figure is now stated as 1,166,477,118.
Are there any changes to American Express's financial performance in this amendment?
No, this amendment specifically states that no financial statements have been included or amended. All financial and other disclosures remain as they were in the original filing dated February 24, 2012.
What is the significance of the new Section 302 certifications?
The new Section 302 certifications are part of regulatory requirements under the Sarbanes-Oxley Act, updated for this amended filing. They confirm the integrity of financial reporting, although certain specific omissions were made as no financial statements were being amended.
Where can I find the actual financial results and business analysis for American Express for 2011?
You should refer to the original Form 10-K filing for American Express Company, which was filed on February 24, 2012. This amendment is purely technical and does not contain updated financial information.
06—Continue