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American Express Company Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: May 1, 2012 03:12PM

American Express Company (AXP) filed Quarterly Report for the period ended 2012-03-31. Amer Express Co has a market cap of $69.62 billion; its shares were traded at around $61.09 with a P/E ratio of 14.2 and P/S ratio of 2.4. The dividend yield of Amer Express Co stocks is 1.3%.



Highlight of Business Operations:

For the three months ended March 31, 2012, net cash provided by investing activities of $1.9 billion decreased $6.8 billion compared to $8.7 billion for the three months ended March 31, 2011 due to a reduction in maturities, redemptions and sales of investments, a net decrease in cardmember loans and receivables and a decrease in restricted cash, partially offset by lower purchases of investments and fewer acquisitions/dispositions in 2012 as compared to the same period in 2011.

Return on average segment capital is calculated by dividing (i) one-year period segment income ($2.9 billion and $2.4 billion for the twelve months ended March 31, 2012 and 2011, respectively) by (ii) one-year average segment capital ($8.5 billion and $6.7 billion for the twelve months ended March 31, 2012 and 2011, respectively). Return on average tangible segment capital, a non-GAAP measure, is computed in the same manner as return on average segment capital except the computation of average tangible segment capital, a non-GAAP measure, excludes from average segment capital average goodwill and other intangibles of $414 million and $457 million as of March 31, 2012 and 2011, respectively. The Company believes that return on average tangible segment capital is a useful measure of the profitability of its business.

Return on average segment capital is calculated by dividing (i) one-year period segment income ($731 million and $587 million for the twelve months ended March 31, 2012 and 2011, respectively) by (ii) one-year average segment capital ($3.0 billion and $2.3 billion for the twelve months ended March 31, 2012 and 2011, respectively). Return on average tangible segment capital, a non-GAAP measure, is computed in the same manner as return on average segment capital except the computation of average tangible segment capital, a non-GAAP measure, excludes from average segment capital average goodwill and other intangibles of $1.5 billion and $788 million as of March 31, 2012 and 2011, respectively. The Company believes that return on average tangible segment capital is a useful measure of the profitability of its business.

Return on average segment capital is calculated by dividing (i) one-year period segment income ($731 million and $549 million for the twelve months ended March 31, 2012 and 2011, respectively) by (ii) one-year average segment capital ($3.6 billion and $3.5 billion for the twelve months ended March 31, 2012 and 2011, respectively). Return on average tangible segment capital, a non-GAAP measure, is computed in the same manner as return on average segment capital except the computation of average tangible segment capital, a non-GAAP measure, excludes from average segment capital average goodwill and other intangibles of $1.8 billion and $1.9 billion for the twelve months ended March 31, 2012 and 2011, respectively. The Company believes that return on average tangible segment capital is a useful measure of the profitability of its business.

Return on average segment capital is calculated by dividing (i) one-year period segment income ($1.3 billion and $1.1 billion for the twelve months ended March 31, 2012 and 2011, respectively) by (ii) one-year average segment capital ($2.0 billion and $1.7 billion for the twelve months ended March 31, 2012 and 2011, respectively). Return on average tangible segment capital, a non-GAAP measure, is computed in the same manner as return on average segment capital except the computation of average tangible segment capital, a non-GAAP measure, excludes from average segment capital average goodwill and other intangibles of $209 million and $105 million as of March 31, 2012 and 2011, respectively. The Company believes that return on average tangible segment capital is a useful measure of the profitability of its business.

Read the The complete Report



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