EXHIBIT 99.2

American Express Company	(Preliminary)
Consolidated Statements of Income
(Millions, except percentages and per share amounts)

	Q2'19			Q1'19			Q4'18			Q3'18			Q2'18			YOY % change			YTD'19			YTD'18			YOY % change
Non-interest revenues
Discount revenue	$	6,577		$	6,195		$	6,457		$	6,181		$	6,194			6		$	12,772		$	12,083			6
Net card fees		988			944			897			870			844			17			1,932			1,674			15
Other fees and commissions		837			803			788			798			786			6			1,640			1,567			5
Other		362			363			300			334			349			4			725			726			-
Total non-interest revenues		8,764			8,305			8,442			8,183			8,173			7			17,069			16,050			6
Interest income
Interest on loans		2,764			2,725			2,674			2,554			2,387			16			5,489			4,713			16
Interest and dividends on investment securities		52			33			35			35			27			93			85			48			77
Deposits with banks and other		149			196			157			149			126			18			345			241			43
Total interest income		2,965			2,954			2,866			2,738			2,540			17			5,919			5,002			18
Interest expense
Deposits		406			399			377			340			300			35			805			570			41
Long-term debt and other		485			496			457			437			411			18			981			762			29
Total interest expense		891			895			834			777			711			25			1,786			1,332			34
Net interest income		2,074			2,059			2,032			1,961			1,829			13			4,133			3,670			13
Total revenues net of interest expense		10,838			10,364			10,474			10,144			10,002			8			21,202			19,720			8
Provisions for losses
Charge card		224			253			236			214			245			(9	)		477			487			(2	)
Card Member loans		603			525			679			560			528			14			1,128			1,027			10
Other		34			31			39			43			33			3			65			67			(3	)
Total provisions for losses		861			809			954			817			806			7			1,670			1,581			6
Total revenues net of interest expense after provisions for losses		9,977			9,555			9,520			9,327			9,196			8			19,532			18,139			8

Expenses
Marketing and business development		1,773			1,573			1,820			1,642			1,663			7			3,346			3,008			11
Card Member rewards		2,652			2,451			2,516			2,400			2,433			9			5,103			4,780			7
Card Member services		563			550			495			457			416			35			1,113			825			35
Salaries and employee benefits		1,367			1,422			1,294			1,350			1,280			7			2,789			2,606			7
Professional services		512			494			671			489			508			1			1,006			965			4
Occupancy and equipment		517			508			540			489			484			7			1,025			1,004			2
Other, net		374			599			353			382			321			17			973			778			25
Total expenses		7,758			7,597			7,689			7,209			7,105			9			15,355			13,966			10
Pretax income		2,219			1,958			1,831			2,118			2,091			6			4,177			4,173			-
Income tax provision (benefit)		458			408			(179	)		464			468			(2	)		866			916			(5	)
Net income	$	1,761		$	1,550		$	2,010		$	1,654		$	1,623			9		$	3,311		$	3,257			2
Net income attributable to common shareholders (A)	$	1,729		$	1,518		$	1,975		$	1,621		$	1,591			9		$	3,247		$	3,191			2
Effective tax rate		20.6	%		20.8	%		(9.8	%)		21.9	%		22.4	%					20.7	%		22.0	%

Earnings Per Common Share
Basic
Net income attributable to common shareholders	$	2.07		$	1.81		$	2.33		$	1.89		$	1.85			12		$	3.88		$	3.71			5
Average common shares outstanding		834			841			850			858			860			(3	)		837			859			(3	)
Diluted
Net income attributable to common shareholders	$	2.07		$	1.80		$	2.32		$	1.88		$	1.84			13		$	3.87		$	3.70			5
Average common shares outstanding		836			843			852			860			862			(3	)		839			862			(3	)
Cash dividends declared per common share	$	0.39		$	0.39		$	0.39		$	0.39		$	0.35			11		$	0.78		$	0.70			11

See Appendix IV for footnote references.

-1-

American Express Company	(Preliminary)
Consolidated Balance Sheets and Related Statistical Information
(Billions, except percentages, per share amounts and where indicated)

	Q2'19			Q1'19			Q4'18			Q3'18			Q2'18			YOY % change
Assets
Cash & cash equivalents	$	27		$	33		$	27		$	30		$	30			(10	)
Card Member receivables, less reserves		58			56			55			55			54			7
Card Member loans, less reserves		81			79			80			76			74			9
Investment securities		9			6			5			6			5			80
Other (B)		23			23			22			22			22			5
Total assets	$	198		$	197		$	189		$	189		$	185			7

Liabilities and Shareholders' Equity
Customer deposits	$	73		$	73		$	70		$	69		$	67			9
Short-term borrowings		3			2			3			2			2			50
Long-term debt		58			58			58			55			56			4
Other (B)		41			42			36			42			39			5
Total liabilities		175			175			167			168			164			7

Shareholders' Equity		23			22			22			21			21			10
Total liabilities and shareholders' equity	$	198		$	197		$	189		$	189		$	185			7

Return on average equity (C)		31.6	%		31.9	%		33.5	%		18.1	%		16.7	%
Return on average common equity (C)		33.4	%		33.7	%		35.6	%		19.0	%		17.5	%
Book value per common share (dollars)	$	25.84		$	24.65		$	24.45		$	23.27		$	22.42			15

See Appendix IV for footnote references.

-2-

American Express Company	(Preliminary)
Consolidated Capital

	Q2'19			Q1'19			Q4'18			Q3'18			Q2'18
Shares Outstanding (in millions)
Beginning of period		837			847			854			861			860
Repurchase of common shares		(6	)		(12	)		(8	)		(7	)		-
Net impact of employee benefit plans and others		1			2			1			-			1
End of period		832			837			847			854			861

Risk-Based Capital Ratios - Basel III ($ in billions) (D)
Common Equity Tier 1/Risk Weighted Assets (RWA)		11.0	%		10.8	%		11.0	%		10.8	%		10.1	%
Tier 1		12.0	%		11.8	%		12.0	%		11.8	%		11.1	%
Total		13.6	%		13.4	%		13.6	%		13.4	%		12.8	%

Common Equity Tier 1	$	18.2		$	17.4		$	17.5		$	16.6		$	15.2
Tier 1 Capital	$	19.8		$	19.0		$	19.1		$	18.2		$	16.8
Tier 2 Capital	$	2.7		$	2.6		$	2.6		$	2.5		$	2.5
Total Capital	$	22.5		$	21.6		$	21.7		$	20.7		$	19.3
RWA	$	165.3		$	161.3		$	158.8		$	154.7		$	150.9
Tier 1 Leverage		10.5	%		10.0	%		10.4	%		10.1	%		9.7	%
Supplementary Leverage Ratio (SLR) (E)		9.0	%		8.6	%		8.9	%		8.6	%		8.3	%
Average Total Assets to calculate the Tier 1 Leverage Ratio (F)	$	189.2		$	189.4		$	183.2		$	179.8		$	172.5
Total Leverage Exposure to calculate SLR	$	220.7		$	221.4		$	214.4		$	210.7		$	202.4

See Appendix IV for footnote references.

-3-

American Express Company		(Preliminary)
Selected Card Related Statistical Information
(Billions, except percentages and where indicated)

	Q2'19			Q1'19			Q4'18			Q3'18			Q2'18			YOY % change			YTD'19			YTD'18			YOY % change
Billed business (G)
U.S.	$	209.2		$	195.5		$	205.1		$	194.6		$	195.4			7		$	404.7		$	377.9			7
Outside the U.S.		102.5			100.2			103.9			100.1			101.1			1			202.7			202.4			-
Total	$	311.7		$	295.7		$	309.0		$	294.7		$	296.5			5		$	607.4		$	580.3			5
Proprietary	$	269.4		$	253.3		$	264.4		$	250.2		$	251.1			7		$	522.7		$	488.0			7
Global Network Services (GNS)		42.3			42.4			44.6			44.5			45.4			(7	)		84.7			92.3			(8	)
Total	$	311.7		$	295.7		$	309.0		$	294.7		$	296.5			5		$	607.4		$	580.3			5
Cards-in-force (millions) (H)
U.S.		54.0			54.1			53.7			53.0			51.9			4			54.0			51.9			4
Outside the U.S.		60.2			59.8			60.3			62.1			62.4			(4	)		60.2			62.4			(4	)
Total		114.2			113.9			114.0			115.1			114.3			-			114.2			114.3			-
Proprietary		69.7			69.7			69.1			68.5			67.4			3			69.7			67.4			3
GNS		44.5			44.2			44.9			46.6			46.9			(5	)		44.5			46.9			(5	)
Total		114.2			113.9			114.0			115.1			114.3			-			114.2			114.3			-
Basic cards-in-force (millions) (H)
U.S.		42.5			42.5			42.3			41.7			40.9			4			42.5			40.9			4
Outside the U.S.		50.3			49.9			50.3			51.8			52.0			(3	)		50.3			52.0			(3	)
Total		92.8			92.4			92.6			93.5			92.9			-			92.8			92.9			-
Average proprietary basic Card Member spending (dollars)
U.S.	$	5,445		$	5,082		$	5,369		$	5,169		$	5,275			3		$	10,529		$	10,294			2
Outside the U.S.	$	4,059		$	3,927		$	4,103		$	3,864		$	3,909			4		$	7,988		$	7,781			3
Average	$	5,030		$	4,741		$	4,997		$	4,784		$	4,871			3		$	9,773		$	9,551			2
Card Member loans
U.S.	$	72.6		$	70.8		$	72.0		$	68.1		$	66.3			10		$	72.6		$	66.3			10
Outside the U.S.		10.6			10.2			9.9			9.5			9.1			16			10.6			9.1			16
Total	$	83.2		$	81.0		$	81.9		$	77.6		$	75.4			10		$	83.2		$	75.4			10

Average discount rate (I)		2.37	%		2.37	%		2.36	%		2.38	%		2.37	%					2.37	%		2.37	%
Average fee per card (dollars) (J)	$	57		$	54		$	52		$	51		$	51			12		$	56		$	51			10

See Appendix IV for footnote references.

-4-

American Express Company	(Preliminary)
Selected Credit Related Statistical Information
(Billions, except percentages and where indicated)

	Q2'19			Q1'19			Q4'18			Q3'18			Q2'18			YOY % change			YTD'19			YTD'18			YOY % change
Worldwide Card Member loans
Total loans	$	83.2		$	81.0		$	81.9		$	77.6		$	75.4			10		$	83.2		$	75.4			10
Loss reserves (millions)
Beginning balance	$	2,121		$	2,134		$	1,937		$	1,840		$	1,786			19		$	2,134		$	1,706			25
Provisions - principal, interest and fees		603			525			679			560			528			14			1,128			1,027			10
Net write-offs - principal less recoveries		(463	)		(457	)		(399	)		(393	)		(389	)		19			(920	)		(747	)		23
Net write-offs - interest and fees less recoveries		(94	)		(92	)		(79	)		(77	)		(77	)		22			(186	)		(148	)		26
Other (K)		1			11			(4	)		7			(8	)		#			12			2			#
Ending balance	$	2,168		$	2,121		$	2,134		$	1,937		$	1,840			18		$	2,168		$	1,840			18
Ending reserves - principal	$	2,043		$	1,999		$	2,028		$	1,834		$	1,737			18		$	2,043		$	1,737			18
Ending reserves - interest and fees	$	125		$	122		$	106		$	103		$	103			21		$	125		$	103			21
% of loans		2.6	%		2.6	%		2.6	%		2.5	%		2.4	%					2.6	%		2.4	%
% of past due		186	%		178	%		182	%		185	%		188	%					186	%		188	%
Average loans	$	81.9		$	80.6		$	79.4		$	76.4		$	74.1			11		$	81.3		$	73.5			11
Net write-off rate (principal only) (L)		2.3	%		2.3	%		2.0	%		2.1	%		2.1	%					2.3	%		2.0	%
Net write-off rate (principal, interest and fees) (L)		2.7	%		2.7	%		2.4	%		2.5	%		2.5	%					2.7	%		2.4	%
30+ days past due as a % of total		1.4	%		1.5	%		1.4	%		1.3	%		1.3	%					1.4	%		1.3	%

Net interest income divided by average Card Member loans (M)		10.1	%		10.2	%		10.2	%		10.3	%		9.9	%					10.2	%		10.0	%
Net interest yield on average Card Member loans (M)		10.8	%		10.9	%		10.7	%		10.8	%		10.6	%					10.9	%		10.6	%

Worldwide Card Member receivables
Total receivables	$	58.7		$	56.8		$	55.9		$	55.5		$	55.0			7		$	58.7		$	55.0			7
Loss reserves (millions)
Beginning balance	$	608		$	573		$	544		$	558		$	565			8		$	573		$	521			10
Provisions - principal and fees		224			253			236			214			245			(9	)		477			487			(2	)
Net write-offs - principal and fees less recoveries		(210	)		(216	)		(198	)		(226	)		(236	)		(11	)		(426	)		(435	)		(2	)
Other (K)		(6	)		(2	)		(9	)		(2	)		(16	)		(63	)		(8	)		(15	)		(47	)
Ending balance	$	616		$	608		$	573		$	544		$	558			10		$	616		$	558			10
% of receivables		1.0	%		1.1	%		1.0	%		1.0	%		1.0	%					1.0	%		1.0	%
Net write-off rate, excluding Global Corporate Payments (GCP) (principal only) (L)		1.7	%		1.8	%		1.4	%		1.7	%		1.8	%					1.7	%		1.7	%
Net write-off rate, excluding GCP (principal and fees) (L)		1.9	%		2.0	%		1.6	%		1.9	%		2.1	%					1.9	%		1.9	%
30+ days past due as a % of total, excluding GCP		1.4	%		1.5	%		1.4	%		1.3	%		1.3	%					1.4	%		1.3	%
GCP Net loss ratio (as a % of charge volume) (N)		0.07	%		0.08	%		0.11	%		0.12	%		0.12	%					0.07	%		0.11	%
GCP 90+ days past billing as a % of total (N)		0.7	%		0.6	%		0.7	%		0.8	%		0.8	%					0.7	%		0.8	%

# - Denotes a variance of 100 percent or more.

See Appendix IV for footnote references.

-5-

American Express Company
Selected Income Statement Information by Segment
(Millions)

	Global Consumer Services Group			Global Commercial Services			Global Merchant and Network Services			Corporate and Other			Consolidated
	(GCSG)			(GCS)			(GMNS)
Q2'19
Non-interest revenues	$	4,001		$	3,167		$	1,565		$	31		$	8,764
Interest income		2,297			468			7			193			2,965
Interest expense		464			257			(101	)		271			891
Total revenues net of interest expense		5,834			3,378			1,673			(47	)		10,838
Total provisions for losses		650			206			4			1			861
Total revenues net of interest expense after provisions for losses		5,184			3,172			1,669			(48	)		9,977
Marketing, business development, rewards, Card Member services		3,062			1,565			337			24			4,988
Salaries and employee benefits and other operating expenses		1,206			801			486			277			2,770
Pretax income (loss)		916			806			846			(349	)		2,219
Income tax provision (benefit)		178			162			214			(96	)		458
Net income (loss)		738			644			632			(253	)		1,761
Q2'18
Non-interest revenues	$	3,678		$	2,977		$	1,513		$	5		$	8,173
Interest income		1,994			393			7			146			2,540
Interest expense		370			204			(68	)		205			711
Total revenues net of interest expense		5,302			3,166			1,588			(54	)		10,002
Total provisions for losses		565			235			6			-			806
Total revenues net of interest expense after provisions for losses		4,737			2,931			1,582			(54	)		9,196
Marketing, business development, rewards, Card Member services		2,695			1,482			312			23			4,512
Salaries and employee benefits and other operating expenses		1,081			734			526			252			2,593
Pretax income (loss)		961			715			744			(329	)		2,091
Income tax provision (benefit)		191			151			201			(75	)		468
Net income (loss)		770			564			543			(254	)		1,623
YOY % change
Non-interest revenues		9			6			3			#			7
Interest income		15			19			-			32			17
Interest expense		25			26			49			32			25
Total revenues net of interest expense		10			7			5			(13	)		8
Total provisions for losses		15			(12	)		(33	)		-			7
Total revenues net of interest expense after provisions for losses		9			8			5			(11	)		8
Marketing, business development, rewards, Card Member services		14			6			8			4			11
Salaries and employee benefits and other operating expenses		12			9			(8	)		10			7
Pretax income (loss)		(5	)		13			14			6			6
Income tax provision (benefit)		(7	)		7			6			28			(2	)
Net income (loss)		(4	)		14			16			-			9

# - Denotes a variance of 100 percent or more.

See Appendix IV for footnote references.

-6-

American Express Company	(Preliminary)
Billed Business Growth Trend

	YOY % change
	Reported					FX-Adjusted (O)					Reported	FX-Adjusted (O)
	Q2'19	Q1'19	Q4'18	Q3'18	Q2'18	Q2'19	Q1'19	Q4'18	Q3'18	Q2'18	YTD'19	YTD'19
Worldwide
Proprietary consumer	8%	7%	10%	11%	13%	10%	9%	11%	12%	12%	8%	9%
Proprietary commercial	6	7	9	11	12	7	8	10	12	12	6	8
Proprietary	7	7	9	11	12	8	9	10	12	12	7	9
GNS	(7)	(10)	(9)	(5)	(1)	(2)	(4)	(4)	(1)	(3)	(8)	(3)
Total	5	4	6	8	10	7	7	8	10	9	5	7
Airline-related volume (8% of Q2'19 Worldwide Total)	2	1	5	7	8	4	5	8	9	7	2	5

U.S.
Proprietary consumer	8	7	9	10	10	n/a	n/a	n/a	n/a	n/a	7	n/a
Proprietary commercial	6	7	9	10	10	n/a	n/a	n/a	n/a	n/a	6	n/a
Proprietary	7	7	8	10	10	n/a	n/a	n/a	n/a	n/a	7	n/a
Total	7	7	9	10	10	n/a	n/a	n/a	n/a	n/a	7	n/a
T&E-related volume (26% of Q2'19 U.S. Total)	6	5	8	9	8	n/a	n/a	n/a	n/a	n/a	6	n/a
Non-T&E-related volume (74% of Q2'19 U.S. Total)	7	7	8	10	10	n/a	n/a	n/a	n/a	n/a	7	n/a
Airline-related volume (7% of Q2'19 U.S. Total)	5	5	9	11	7	n/a	n/a	n/a	n/a	n/a	5	n/a

Outside the U.S.
Proprietary consumer	10	8	11	14	20	15	16	17	18	18	9	15
Proprietary commercial	8	5	10	13	19	12	13	16	18	18	7	13
Proprietary	9	7	11	14	19	14	15	17	18	17	8	14
Total	1	(1)	1	5	10	6	6	7	8	8	0	6
Japan, Asia Pacific & Australia billed business	1	(2)	1	5	9	5	4	5	8	7	-	5
Latin America & Canada billed business	6	1	1	1	5	12	11	11	12	11	3	11
Europe, Middle East & Africa billed business	-	(2)	2	6	14	5	7	8	8	9	(1)	6

See Appendix IV for footnote references.

-7-

Global Consumer Services Group		(Preliminary)
Selected Income Statement and Statistical Information
(Millions, except percentages)

	Q2'19			Q1'19			Q4'18			Q3'18			Q2'18			YOY % change			YTD'19			YTD'18			YOY % change
Non-interest revenues	$	4,001		$	3,741		$	3,826		$	3,680		$	3,678			9		$	7,742		$	7,169			8
Interest income		2,297			2,272			2,240			2,140			1,994			15			4,569			3,943			16
Interest expense		464			459			441			404			370			25			923			697			32
Net interest income		1,833			1,813			1,799			1,736			1,624			13			3,646			3,246			12
Total revenues net of interest expense		5,834			5,554			5,625			5,416			5,302			10			11,388			10,415			9
Total provisions for losses		650			552			726			609			565			15			1,202			1,095			10
Total revenues net of interest expense after provisions for losses		5,184			5,002			4,899			4,807			4,737			9			10,186			9,320			9
Expenses
Marketing, business development, rewards, Card Member services		3,062			2,785			2,922			2,711			2,695			14			5,847			5,141			14
Salaries and employee benefits and other operating expenses		1,206			1,177			1,250			1,118			1,081			12			2,383			2,170			10
Total expenses		4,268			3,962			4,172			3,829			3,776			13			8,230			7,311			13
Pretax segment income		916			1,040			727			978			961			(5	)		1,956			2,009			(3	)
Income tax provision		178			219			25			199			191			(7	)		397			413			(4	)
Segment income	$	738		$	821		$	702		$	779		$	770			(4	)	$	1,559		$	1,596			(2	)
Effective tax rate		19.4	%		21.1	%		3.4	%		20.3	%		19.9	%					20.3	%		20.6	%

(Billions, except percentages and where indicated)
Proprietary billed business (G)
U.S.	$	100.9		$	92.1		$	99.1		$	92.4		$	93.6			8		$	193.0		$	179.6			7
Outside the U.S.	$	38.0		$	35.9		$	37.5		$	34.9		$	34.6			10		$	73.9		$	67.9			9
Total	$	138.9		$	128.0		$	136.6		$	127.3		$	128.2			8		$	266.9		$	247.5			8
Proprietary cards-in-force (millions) (H)
U.S.		37.6			38.0			37.7			37.4			36.7			2			37.6			36.7			2
Outside the U.S.		17.4			17.1			16.8			16.7			16.5			5			17.4			16.5			5
Total		55.0			55.1			54.5			54.1			53.2			3			55.0			53.2			3
Proprietary basic cards-in-force (millions) (H)
U.S.		26.8			27.1			27.0			26.7			26.2			2			26.8			26.2			2
Outside the U.S.		12.0			11.9			11.6			11.6			11.4			5			12.0			11.4			5
Total		38.8			39.0			38.6			38.3			37.6			3			38.8			37.6			3
Average proprietary basic Card Member spending (dollars)
U.S	$	3,743		$	3,402		$	3,693		$	3,491		$	3,594			4		$	7,148		$	6,969			3
Outside the U.S.	$	3,173		$	3,052		$	3,240		$	3,038		$	3,057			4		$	6,227		$	6,060			3
Average	$	3,567		$	3,296		$	3,556		$	3,354		$	3,431			4		$	6,867		$	6,693			3

Segment assets (P)	$	102.1		$	98.5		$	102.4		$	100.0		$	95.7			7		$	102.1		$	95.7			7

Card Member loans
Total loans
U.S.	$	59.5		$	58.0		$	59.9		$	56.2		$	54.7			9		$	59.5		$	54.7			9
Outside the U.S.	$	10.2		$	9.9		$	9.6		$	9.2		$	8.8			16		$	10.2		$	8.8			16
Total	$	69.7		$	67.9		$	69.5		$	65.4		$	63.5			10		$	69.7		$	63.5			10

Average loans
U.S.	$	58.8		$	58.3		$	57.8		$	55.5		$	53.7			9		$	58.6		$	53.4			10
Outside the U.S.	$	9.9		$	9.7		$	9.3		$	8.9		$	8.8			13		$	9.8		$	8.8			11
Total	$	68.7		$	68.0		$	67.1		$	64.4		$	62.5			10		$	68.4		$	62.2			10

Lending Credit Metrics
U.S.
Net write-off rate (principal only) (L)		2.3	%		2.4	%		2.1	%		2.1	%		2.2	%					2.4	%		2.1	%
Net write-off rate (principal, interest and fees) (L)		2.8	%		2.8	%		2.5	%		2.5	%		2.6	%					2.8	%		2.5	%
30+ days past due as a % of total		1.4	%		1.5	%		1.4	%		1.4	%		1.3	%					1.4	%		1.3	%
Outside the U.S.
Net write-off rate (principal only) (L)		2.4	%		2.2	%		2.0	%		2.2	%		2.1	%					2.3	%		2.1	%
Net write-off rate (principal, interest and fees) (L)		3.0	%		2.8	%		2.5	%		2.7	%		2.6	%					2.9	%		2.6	%
30+ days past due as a % of total		1.7	%		1.7	%		1.6	%		1.5	%		1.5	%					1.7	%		1.5	%
Total
Net write-off rate (principal only) (L)		2.4	%		2.3	%		2.1	%		2.1	%		2.2	%					2.4	%		2.1	%
Net write-off rate (principal, interest and fees) (L)		2.8	%		2.8	%		2.5	%		2.5	%		2.6	%					2.8	%		2.5	%
30+ days past due as a % of total		1.4	%		1.5	%		1.5	%		1.4	%		1.3	%					1.4	%		1.3	%

Net interest income divided by average Card Member loans (M)		10.7	%		10.7	%		10.7	%		10.8	%		10.4	%					10.7	%		10.5	%
Net interest yield on average Card Member loans (M)
U.S.		10.8	%		11.0	%		10.8	%		10.9	%		10.6	%					10.9	%		10.7	%
Outside the U.S.		10.9	%		11.1	%		10.5	%		10.6	%		10.5	%					11.0	%		10.7	%
Total		10.9	%		11.0	%		10.8	%		10.8	%		10.6	%					10.9	%		10.7	%

Card Member receivables
U.S.	$	13.1		$	12.7		$	13.7		$	11.9		$	12.0			9		$	13.1		$	12.0			9
Outside the U.S.	$	8.1		$	7.2		$	7.8		$	7.0		$	7.0			16		$	8.1		$	7.0			16
Total receivables	$	21.2		$	19.9		$	21.5		$	18.9		$	19.0			12		$	21.2		$	19.0			12

Charge Credit Metrics
U.S.
Net write-off rate (principal only) (L)		1.3	%		1.4	%		1.2	%		1.3	%		1.4	%					1.4	%		1.4	%
Net write-off rate (principal and fees) (L)		1.4	%		1.6	%		1.4	%		1.5	%		1.5	%					1.5	%		1.5	%
30+ days past due as a % of total		1.2	%		1.2	%		1.1	%		1.2	%		1.1	%					1.2	%		1.1	%
Outside the U.S.
Net write-off rate (principal only) (L)		2.2	%		2.2	%		2.0	%		2.3	%		2.1	%					2.2	%		2.1	%
Net write-off rate (principal and fees) (L)		2.3	%		2.4	%		2.1	%		2.5	%		2.3	%					2.4	%		2.2	%
30+ days past due as a % of total		1.4	%		1.5	%		1.3	%		1.4	%		1.4	%					1.4	%		1.4	%
Total
Net write-off rate (principal only) (L)		1.6	%		1.7	%		1.5	%		1.7	%		1.7	%					1.7	%		1.6	%
Net write-off rate (principal and fees) (L)		1.8	%		1.9	%		1.6	%		1.9	%		1.8	%					1.8	%		1.8	%
30+ days past due as a % of total		1.3	%		1.3	%		1.2	%		1.2	%		1.2	%					1.3	%		1.2	%

See Appendix IV for footnote references.

-8-

Global Commercial Services		(Preliminary)
Selected Income Statement and Statistical Information
(Millions, except percentages)

	Q2'19			Q1'19			Q4'18			Q3'18			Q2'18			YOY % change			YTD'19			YTD'18			YOY % change
Non-interest revenues	$	3,167		$	3,020		$	3,087		$	2,980		$	2,977			6		$	6,187		$	5,815			6
Interest income		468			454			435			416			393			19			922			770			20
Interest expense		257			241			234			218			204			26			498			375			33
Net interest income		211			213			201			198			189			12			424			395			7
Total revenues net of interest expense		3,378			3,233			3,288			3,178			3,166			7			6,611			6,210			6
Total provisions for losses		206			254			223			201			235			(12	)		460			475			(3	)
Total revenues net of interest expense after provisions for losses		3,172			2,979			3,065			2,977			2,931			8			6,151			5,735			7
Expenses
Marketing, business development, rewards, Card Member services		1,565			1,470			1,528			1,469			1,482			6			3,035			2,856			6
Salaries and employee benefits and other operating expenses		801			766			839			734			734			9			1,567			1,456			8
Total expenses		2,366			2,236			2,367			2,203			2,216			7			4,602			4,312			7
Pretax segment income		806			743			698			774			715			13			1,549			1,423			9
Income tax provision		162			157			74			168			151			7			319			313			2
Segment income	$	644		$	586		$	624		$	606		$	564			14		$	1,230		$	1,110			11
Effective tax rate		20.1	%		21.1	%		10.6	%		21.7	%		21.1	%					20.6	%		22.0	%

(Billions, except percentages and where indicated)
Proprietary billed business (G)	$	129.6		$	123.4		$	126.9		$	121.6		$	122.0			6		$	253.0		$	237.7			6
Proprietary cards-in-force (millions) (H)		14.7			14.6			14.5			14.4			14.3			3			14.7			14.3			3
Average Card Member spending (dollars)	$	8,866		$	8,463		$	8,757		$	8,469		$	8,592			3		$	17,321		$	16,828			3

Segment assets (P)	$	55.0		$	54.0		$	51.3		$	53.4		$	52.2			5		$	55.0		$	52.2			5
Card Member loans	$	13.5		$	13.1		$	12.4		$	12.2		$	11.9			13		$	13.5		$	11.9			13
Card Member receivables	$	37.5		$	36.9		$	34.4		$	36.6		$	36.0			4		$	37.5		$	36.0			4

Card Member loans
Total loans - Global Small Business Services (GSBS)	$	13.4		$	13.0		$	12.4		$	12.2		$	11.8			14		$	13.4		$	11.8			14
30+ days past due as a % of total - GSBS		1.3	%		1.3	%		1.3	%		1.1	%		1.2	%					1.3	%		1.2	%
Average loans - GSBS	$	13.2		$	12.6		$	12.3		$	11.9		$	11.6			14		$	12.9		$	11.4			13
Net write-off rate (principal only) - GSBS (L)		1.8	%		1.8	%		1.6	%		1.7	%		1.8	%					1.8	%		1.7	%
Net write-off rate (principal, interest and fees) - GSBS (L)		2.1	%		2.1	%		1.9	%		2.0	%		2.1	%					2.1	%		2.0	%

Net interest income divided by average Card Member loans (M)		6.4	%		6.8	%		6.5	%		6.6	%		6.5	%					6.6	%		6.9	%
Net interest yield on average Card Member loans (M)		10.4	%		10.8	%		10.5	%		10.5	%		10.4	%					10.6	%		10.6	%

Card Member receivables
Total receivables - GCP (N)	$	19.7		$	19.6		$	17.7		$	19.7		$	19.3			2		$	19.7		$	19.3			2
90+ days past billing as a % of total - GCP (N)		0.7	%		0.6	%		0.7	%		0.8	%		0.8	%					0.7	%		0.8	%
Net loss ratio (as a % of charge volume) - GCP (N)		0.07	%		0.08	%		0.11	%		0.12	%		0.12	%					0.07	%		0.11	%
Total receivables - GSBS	$	17.8		$	17.3		$	16.7		$	16.9		$	16.7			7		$	17.8		$	16.7			7
30+ days past due as a % of total - GSBS		1.6	%		1.6	%		1.6	%		1.4	%		1.4	%					1.6	%		1.4	%
Net write-off rate (principal only) - GSBS (L)		1.8	%		1.9	%		1.4	%		1.8	%		2.1	%					1.8	%		1.9	%
Net write-off rate (principal and fees) - GSBS (L)		2.0	%		2.1	%		1.6	%		2.0	%		2.3	%					2.1	%		2.1	%

See Appendix IV for footnote references.

-9-

Global Merchant and Network Services

(Preliminary)

Selected Income Statement and Statistical Information

(Millions, except percentages)

	Q2'19			Q1'19			Q4'18			Q3'18			Q2'18			YOY % change			YTD'19			YTD'18			YOY % change
Non-interest revenues	$	1,565		$	1,525		$	1,530		$	1,494		$	1,513			3		$	3,090		$	3,045			1
Interest income		7			9			8			6			7			-			16			16			-
Interest expense		(101	)		(93	)		(89	)		(78	)		(68	)		49			(194	)		(127	)		53
Net interest income		108			102			97			84			75			44			210			143			47
Total revenues net of interest expense		1,673			1,627			1,627			1,578			1,588			5			3,300			3,188			4
Total provisions for losses		4			4			6			5			6			(33	)		8			11			(27	)
Total revenues net of interest expense after provisions for losses		1,669			1,623			1,621			1,573			1,582			5			3,292			3,177			4
Expenses
Marketing, business development, rewards, Card Member services		337			305			375			296			312			8			642			579			11
Salaries and employee benefits and other operating expenses		486			482			620			511			526			(8	)		968			1,146			(16	)
Total expenses		823			787			995			807			838			(2	)		1,610			1,725			(7	)
Pretax segment income		846			836			626			766			744			14			1,682			1,452			16
Income tax provision		214			205			125			186			201			6			419			393			7
Segment income	$	632		$	631		$	501		$	580		$	543			16		$	1,263		$	1,059			19
Effective tax rate		25.3	%		24.5	%		20.0	%		24.3	%		27.0	%					24.9	%		27.1	%

(Billions)
Segment assets (P)	$	22.2		$	22.1		$	15.5		$	21.1		$	19.6			13		$	22.2		$	19.6			13

See Appendix IV for footnote references.

-10-

American Express Company	(Preliminary)
Appendix I
Components of Return on Average Equity (ROE) and Return on Average Common Equity (ROCE)
(Millions, except percentages)

	For the Twelve Months Ended
	Jun 30,			Mar 31,			Dec 31,			Sep 30,			Jun 30,
	2019			2019			2018			2018			2018
ROE
Net income	$	6,975		$	6,837		$	6,921		$	3,705		$	3,410
Average shareholders' equity	$	22,073		$	21,455		$	20,650		$	20,421		$	20,393
Return on average equity (C)		31.6	%		31.9	%		33.5	%		18.1	%		16.7	%

Reconciliation of ROCE
Net income	$	6,975		$	6,837		$	6,921		$	3,705		$	3,410
Preferred shares dividends and related accretion		79			80			80			81			82
Earnings allocated to participating share awards and other		53			52			54			40			38
Net income attributable to common shareholders	$	6,843		$	6,705		$	6,787		$	3,584		$	3,290

Average shareholders' equity	$	22,073		$	21,455		$	20,650		$	20,421		$	20,393
Average preferred shares		1,584			1,584			1,584			1,584			1,584
Average common shareholders' equity	$	20,489		$	19,871		$	19,066		$	18,837		$	18,809
Return on average common equity (C)		33.4	%		33.7	%		35.6	%		19.0	%		17.5	%

See Appendix IV for footnote references.

-11-

American Express Company

(Preliminary)

Appendix II

Net Interest Yield on Average Card Member Loans

(Millions, except percentages and where indicated)

	Q2'19			Q1'19			Q4'18			Q3'18			Q2'18			YTD'19			YTD'18
Consolidated
Net interest income	$	2,074		$	2,059		$	2,032		$	1,961		$	1,829		$	4,133		$	3,670
Exclude:
Interest expense not attributable to the Company's Card Member loan portfolio (Q)		439			453			405			390			359			892			661
Interest income not attributable to the Company's Card Member loan portfolio (R)		(312	)		(335	)		(287	)		(274	)		(236	)		(647	)		(449	)
Adjusted net interest income (S)	$	2,201		$	2,177		$	2,150		$	2,077		$	1,952		$	4,378		$	3,882
Average Card Member loans (billions)	$	81.9		$	80.6		$	79.4		$	76.4		$	74.1		$	81.3		$	73.5
Net interest income divided by average Card Member loans (T)		10.1	%		10.2	%		10.2	%		10.3	%		9.9	%		10.2	%		10.0	%
Net interest yield on average Card Member loans (U)		10.8	%		10.9	%		10.7	%		10.8	%		10.6	%		10.9	%		10.6	%

Global Consumer Services Group
U.S.
Net interest income	$	1,581		$	1,565		$	1,571		$	1,511		$	1,410		$	3,146		$	2,813
Exclude:
Interest expense not attributable to the Company's Card Member loan portfolio (Q)		60			65			57			55			53			125			90
Interest income not attributable to the Company's Card Member loan portfolio (R)		(52	)		(53	)		(51	)		(46	)		(42	)		(105	)		(81	)
Adjusted net interest income (S)	$	1,589		$	1,577		$	1,577		$	1,520		$	1,421		$	3,166		$	2,822
Average Card Member loans (billions)	$	58.8		$	58.3		$	57.8		$	55.5		$	53.7		$	58.6		$	53.4
Net interest income divided by average Card Member loans (T)		10.8	%		10.7	%		10.9	%		10.9	%		10.5	%		10.7	%		10.5	%
Net interest yield on average Card Member loans (U)		10.8	%		11.0	%		10.8	%		10.9	%		10.6	%		10.9	%		10.7	%

Outside the U.S.
Net interest income	$	252		$	248		$	228		$	225		$	215		$	500		$	433
Exclude:
Interest expense not attributable to the Company's Card Member loan portfolio (Q)		21			19			18			18			16			40			34
Interest income not attributable to the Company's Card Member loan portfolio (R)		(4	)		(3	)		-			(3	)		(2	)		(7	)		(5	)
Adjusted net interest income (S)	$	269		$	264		$	246		$	240		$	229		$	533		$	462
Average Card Member loans (billions)	$	9.9		$	9.7		$	9.3		$	8.9		$	8.8		$	9.8		$	8.7
Net interest income divided by average Card Member loans (T)		10.2	%		10.2	%		9.8	%		10.1	%		9.8	%		10.2	%		10.0	%
Net interest yield on average Card Member loans (U)		10.9	%		11.1	%		10.5	%		10.6	%		10.5	%		11.0	%		10.7	%

Total
Net interest income	$	1,833		$	1,813		$	1,799		$	1,736		$	1,624		$	3,646		$	3,246
Exclude:
Interest expense not attributable to the Company's Card Member loan portfolio (Q)		81			84			75			73			70			165			124
Interest income not attributable to the Company's Card Member loan portfolio (R)		(56	)		(56	)		(51	)		(49	)		(45	)		(112	)		(86	)
Adjusted net interest income (S)	$	1,858		$	1,841		$	1,823		$	1,760		$	1,649		$	3,699		$	3,284
Average Card Member loans (billions)	$	68.7		$	68.0		$	67.1		$	64.4		$	62.5		$	68.4		$	62.1
Net interest income divided by average Card Member loans (T)		10.7	%		10.7	%		10.7	%		10.8	%		10.4	%		10.7	%		10.5	%
Net interest yield on average Card Member loans (U)		10.9	%		11.0	%		10.8	%		10.8	%		10.6	%		10.9	%		10.7	%

Global Commercial Services
Net interest income	$	211		$	213		$	201		$	198		$	189		$	424		$	395
Exclude:
Interest expense not attributable to the Company's Card Member loan portfolio (Q)		187			175			170			161			152			362			278
Interest income not attributable to the Company's Card Member loan portfolio (R)		(55	)		(52	)		(44	)		(42	)		(38	)		(107	)		(75	)
Adjusted net interest income (S)	$	343		$	336		$	327		$	317		$	303		$	679		$	598
Average Card Member loans (billions)	$	13.2		$	12.6		$	12.4		$	12.0		$	11.7		$	12.9		$	11.4
Net interest income divided by average Card Member loans (T)		6.4	%		6.8	%		6.5	%		6.6	%		6.5	%		6.6	%		6.9	%
Net interest yield on average Card Member loans (U)		10.4	%		10.8	%		10.5	%		10.5	%		10.4	%		10.6	%		10.6	%

See Appendix IV for footnote references.

-12-

American Express Company			(Preliminary)
Appendix III
Reconciliations of Adjustments

	YTD'19			YTD'18			YOY % Change
Earnings per share adjusted for litigation-related charge
Diluted earnings per common share	$	3.87		$	3.70			5
Q1'19 litigation-related charge (pre-tax)		0.26			-
Tax impact of litigation-related charge		(0.06	)		-
Net impact of Q1'19 litigation-related charge (V)		0.20			-
Adjusted diluted earnings per common share	$	4.07		$	3.70			10



GAAP Earnings per share (EPS) Outlook	2019 EPS Range
GAAP EPS Outlook	$	7.64		$	8.14
Q1'19 litigation-related charge (pre-tax)		0.27			0.27
Tax impact of litigation-related charge		(0.06	)		(0.06	)
Net impact of Q1'19 litigation-related charge (V)		0.21			0.21
Adjusted EPS Outlook	$	7.85		$	8.35

See Appendix IV for footnote references.

-13-

Appendix IV

(Preliminary)

All Information in the preceding tables is presented on a basis prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), unless otherwise indicated. Certain reclassifications of prior period amounts have been made to conform to the current period presentation.

(A)		Represents net income, less (i) earnings allocated to participating share awards of $13 million, $11 million, $16 million, $13 million and $12 million in Q2'19, Q1'19, Q4'18, Q3'18 and Q2'18, respectively; and (ii) dividends on preferred shares of $19 million, $21 million, $19 million, $20 million and $20 million in Q2'19, Q1'19, Q4'18, Q3'18 and Q2'18, respectively.
(B)		Within assets, "other" includes the following items as presented in the Company’s Consolidated Balance Sheets: Other receivables, Other loans (including merchant financing loans), Premises and equipment and Other assets; and within liabilities, "other" includes the following items: Travelers Cheques and other prepaid products, Accounts payable and Other liabilities.
(C)		Return on average equity and return on average common equity are calculated by dividing one year period net income/net income attributable to common shareholders by one year average total shareholders’ equity/average common shareholders' equity, respectively. Refer to Appendix I for components of return on average equity and return on average common equity.
(D)		Current ratios represent preliminary estimates as of the date of Second Quarter 2019 Earnings Release and may be revised in the Company’s 2019 Form 10-Q for period ended June 30, 2019.
(E)		Supplementary Leverage Ratio is calculated by dividing Tier 1 capital by total leverage exposure under Basel III. Leverage exposure, which reflects average total consolidated assets with adjustments for Tier 1 capital deductions, average off-balance sheet derivatives exposures, securities purchased under agreements to resell and credit equivalents of undrawn commitments that are both conditionally and unconditionally cancellable.
(F)		Presented for the purpose of calculating the Tier 1 Leverage Ratio.
(G)		Billed business represents transaction volumes (including cash advances) on cards and other payment products issued by American Express (proprietary billed business) and cards issued under network partnership agreements with banks and other institutions, including joint ventures (GNS billed business). In-store spending activity within GNS retail cobrand portfolios, from which we earn no revenue, is not included in billed business. Billed business is reported as United States or outside the United States based on the location of the issuer.
(H)		Cards-in-force represents the number of cards that are issued and outstanding by American Express (proprietary cards-in-force) and cards issued and outstanding under network partnership agreements with banks and other institutions, including joint ventures (GNS cards-in-force) except for GNS retail cobrand cards that have no out of store spend activity during the prior 12 months. Basic cards-in-force excludes supplemental cards issued on consumer accounts.
(I)		Average discount rate calculation is generally designed to reflect the average pricing at all merchants accepting American Express cards and represents the percentage of proprietary and GNS billed business retained by the Company from merchants it acquires, or from merchants acquired by third parties on its behalf, net of amounts retained by such third parties.
(J)		Average fee per card is computed based on proprietary net card fees divided by average proprietary total cards-in-force.
(K)		Other includes foreign currency impact on balance sheet re-measurement and translation.
(L)		The Company presents a net write-off rate based on principal losses only (i.e., excluding interest and/or fees) to be consistent with industry convention. In addition, as the Company's practice is to include uncollectible interest and/or fees as part of its total provision for losses, a net write-off rate including principal, interest and/or fees is also presented.
(M)		See Appendix II for calculations of net interest yield on average Card Member loans, a non-GAAP measure, and net interest income divided by average Card Member loans, a GAAP measure, and the Company's rationale for presenting net interest yield on average Card Member loans (refer to Footnotes "T" and "U").
(N)		GCP reflects global, large and middle market corporate accounts. GCP delinquency data for periods other than 90+ days past billing is not available due to system constraints. GCP Net loss ratio represents the ratio of GCP charge card write-offs, consisting of principal (resulting from authorized transactions) and fee components, less recoveries, on Card Member receivables expressed as a percentage of gross amounts billed to corporate Card Members.
(O)		FX-adjusted information assumes a constant exchange rate between the periods being compared for purposes of currency translation into U.S. dollars (i.e., assumes the foreign exchange rates used to determine results for Q2'19 apply to the period(s) against which such results are being compared). The Company believes the presentation of information on an FX-adjusted basis is helpful to investors by making it easier to compare the Company's performance in one period to that of another period without the variability caused by fluctuations in currency exchange rates.
(P)		Effective Q1'19, we moved intercompany assets and liabilities, previously recorded in the operating segments, to Corporate and Other. During 2018, we made changes to the methodology used to allocate certain corporate overhead costs to the operating segments and our intercompany settlement process. Prior period amounts have been revised to conform to the current period presentation.
(Q)		Primarily represents interest expense attributable to maintaining our corporate liquidity pool and funding Card Member receivables.
(R)		Primarily represents interest income attributable to Other loans, interest-bearing deposits and the fixed income investment portfolios.
(S)		Adjusted net interest income is a non-GAAP measure that represents net interest income attributable to our Card Member loans (which includes, on a GAAP basis, interest that is deemed uncollectible), excluding the impact of interest expense and interest income not attributable to our Card Member loans. The Company believes adjusted net interest income is useful to investors because it represents the interest expense and interest income attributable to our Card Member loan portfolio and is a component of net interest yield on average Card Member loans, which provides a measure of profitability of our Card Member loan portfolio.
(T)		Net interest income divided by average Card Member loans, computed on an annualized basis, a GAAP measure, includes elements of total interest income and total interest expense that are not attributable to the Card Member loan portfolio, and thus is not representative of net interest yield on average Card Member loans.
(U)		Net interest yield on average Card Member loans is a non-GAAP measure that is computed by dividing adjusted net interest income by average Card Member loans, computed on an annualized basis. Reserves and net write-offs related to uncollectible interest are recorded through provisions for losses, and thus not included in the net interest yield calculation. The Company believes that net interest yield on average Card Member loans is useful to investors because it provides a measure of profitability of the Company's Card Member loan portfolio.
(V)		The difference between the net impact of the Q1'19 litigation-related charge on Q2'19 YTD EPS and 2019 GAAP EPS Outlook is due to the average common shares outstanding for each respective period.