| Period End | Type | Status | Affected | % Workforce | Announced | Expected Completion | Geography | Segment / Function | Charge | Source | Note |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025-12-31 | restructuring | in_progress | USD 96 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | FY2025 restructuring expense of $96M (severance and exit costs, net of reserve revisions); $201M accrued at year-end; cumulative expense for programs in progress during 2025 was $443M, with programs initiated from 2022 through 2025; employees affected not disclosed | ||||||
| 2025-12-31 | acquisition_addition | completed | United States | Commercial Services | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2025 acquisition of Center, an expense management software company; $590M goodwill recorded in Commercial Services; headcount added not disclosed | |||||
| 2025-12-31 | acquisition_addition | announced | 2026-01-12 | 2026-01-12 | Switzerland | International Card Services | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Subsequent event: acquired partner's interest in Swisscard AECS GmbH on 2026-01-12, making it a wholly owned subsidiary to be consolidated from 2026; headcount added not disclosed | |||
| 2025-12-31 | restructuring | in_progress | USD 96 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Restructuring expense primarily relates to new severance charges, net of revisions to existing reserves. Cumulative expense for programs in progress during 2025 was $443 million. Employee count not disclosed. | ||||||
| 2025-12-31 | restructuring | in_progress | USD 96,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | |||||||
| 2024-12-31 | divestiture_reduction | completed | 2024-05-01 | 2024-05-01 | United States | Global Merchant and Network Services | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of Accertify Inc. completed May 1, 2024; headcount impact not disclosed | |||
| 2024-12-31 | acquisition_addition | completed | United States | U.S. Consumer Services | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisitions of Tock and Rooam in 2024; headcount added not disclosed | |||||
| 2024-12-31 | restructuring | in_progress | Global | Multiple | USD 123 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | FY2024 restructuring expense of $123M; $217M accrued reserves at year-end; employees affected not disclosed | ||||
| 2024-12-31 | restructuring | in_progress | USD 123 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Cumulative cost relating to restructuring programs initiated in 2024 or in prior years that were in progress during 2024 was $400 million. Restructuring expense for the year was $123 million. | ||||||
| 2024-09-30 | divestiture_reduction | completed | 2024-05-01 | Global Merchant and Network Services (GMNS) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of fraud prevention subsidiary Accertify closed May 1, 2024; no headcount impact disclosed. Gain of $531 million ($479 million after tax) reported in Q2 2024. | |||||
| 2024-09-30 | restructuring | in_progress | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Nine-month increase in salaries and employee benefits attributed partly to restructuring costs; no employee counts, severance amounts, or completion timing disclosed. | |||||||
| 2023-12-31 | restructuring | in_progress | Not specified | Not specified | USD 179 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | FY2023 restructuring expense of $179M (severance and exit costs); $216M accrued at year-end; cumulative cost for programs in progress during 2023 was $277M. Employee counts not disclosed. | ||||
| 2023-12-31 | restructuring | completed | USD 179 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Restructuring expense primarily relates to new severance charges, net of revisions to existing reserves. Cumulative cost for programs initiated in 2023 or prior years in progress during 2023 was $277 million. No programs initiated prior to 2022 were still in progress during 2023. | ||||||
| 2022-12-31 | restructuring | in_progress | Primarily United States | Primarily Corporate & Other | USD 142 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2022 restructuring expense of $142M (new severance charges net of reserve revisions); $135M accrued in restructuring reserves at year-end. Cumulative expense for programs in progress during 2022, initiated between 2019 and 2022, was $270M. Employees affected not disclosed. | ||||
| 2021-12-31 | restructuring | in_progress | Global | Corporate & Other and business units | USD -10 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Current-year new charges, including net revisions, were a net credit of $10M for FY2021; $67M accrued at year-end; $223M cumulative recognized for programs in progress during 2021 initiated 2019-2020. No employee-affected count disclosed. | ||||
| 2021-12-31 | restructuring | in_progress | Global | Corporate & Other | USD 223 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Cumulative charges of $223 million recognized for programs in progress during 2021, initiated between 2019 and 2020. Majority reflected within Corporate & Other. New charges were $(10) million for 2021. | ||||
| 2020-12-31 | restructuring | in_progress | Corporate & Other | USD 125 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | FY2020 new charges including net revisions, primarily for redeploying displaced colleagues. Cumulatively $383 million recognized for programs in progress during 2020, initiated between 2016 and 2020, with the majority in Corporate & Other; year-end accrual was $197 million. No employee-affected count or completion date disclosed. | |||||
| 2020-12-31 | restructuring | in_progress | USD 125 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | New charges including net revisions to existing reserves for programs in progress initiated between 2016 and 2020. Employee count not disclosed. | ||||||
| 2019-12-31 | restructuring | in_progress | Global | Corporate & Other and operating segments | USD 125 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | FY2019 new charges, including net revisions, primarily for redeployment of displaced colleagues; $135M accrued at year-end; cumulative $424M recognized on programs in progress during 2019 initiated 2014-2019. No employee-affected count disclosed. | ||||
| 2019-12-31 | restructuring | in_progress | USD 125 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | New charges including net revisions to existing reserves. Majority reflected within Corporate & Other. | ||||||
| 2018-12-31 | restructuring | in_progress | Global | Primarily reflected within Corporate & Other | USD -23 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | FY2018 new charges, including net revisions to existing reserves, were a net credit of $23 million, primarily reflecting redeployment of displaced colleagues. Restructuring reserves were $69 million at year-end. Cumulative charges of $554 million relate to programs in progress during 2018 initiated between 2011 and 2018; only current-year activity is captured here. Employees affected not disclosed. | ||||
| 2018-12-31 | acquisition_addition | completed | 2018-03-31 | United States | Global Consumer Services Group (GCSG) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquired the portion of the Hilton cobrand credit card loan portfolio not previously owned during Q1 2018 (approximately $1 billion principal and interest). No headcount associated with the transaction was disclosed. | ||||
| 2018-12-31 | restructuring | in_progress | USD -23 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | New charges, including net revisions to existing restructuring reserves, were $(23) million for the year ended December 31, 2018. Cumulatively, $554 million recognized relating to programs in progress during 2018. | ||||||
| 2018-12-31 | restructuring | in_progress | USD 554,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | |||||||
| 2017-12-31 | restructuring | in_progress | Global | Company-wide (charges reported across USCS, ICNS, GCS, GMS and Corporate & Other) | USD 42 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | FY2017 restructuring charges net of revisions ($34M severance, $8M other) under programs initiated 2011-2017; no employees-affected count disclosed. Remaining liability $199M at year-end, majority of cash payments expected in 2018. | ||||
| 2017-12-31 | restructuring | in_progress | Global | Various | USD 42 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Total restructuring charges for 2017 were $42 million ($34 million severance, $8 million other). Employee count affected is not disclosed in the footnote. Majority of remaining liabilities expected to be completed in 2018. | ||||
| 2017-12-31 | restructuring | in_progress | Corporate And Other | USD 403,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2017-12-31 | restructuring | in_progress | USD 722,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | |||||||
| 2017-12-31 | restructuring | in_progress | Global Commercial Services | USD 93,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2017-12-31 | restructuring | in_progress | U S Card Services | USD 54,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2017-12-31 | restructuring | in_progress | Corporate And Other / Employee Severance | USD 336,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2017-12-31 | restructuring | in_progress | International Card Services | USD 132,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2017-12-31 | restructuring | in_progress | Global Network And Merchant Services | USD 40,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2016-12-31 | restructuring | in_progress | United States | U.S. Consumer Services | USD 21 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2016 restructuring charges, net of revisions, for USCS. Cumulative expense on in-progress programs initiated 2011-2016 was $101 million. Employee counts not disclosed. | ||||
| 2016-12-31 | restructuring | in_progress | International | International Consumer and Network Services | USD 27 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2016 restructuring charges, net of revisions, for ICNS. Cumulative expense on in-progress programs was $216 million. Employee counts not disclosed. | ||||
| 2016-12-31 | restructuring | in_progress | Global | Global Commercial Services | USD 49 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2016 restructuring charges, net of revisions, for GCS. Cumulative expense on in-progress programs was $116 million. Employee counts not disclosed. | ||||
| 2016-12-31 | restructuring | in_progress | Global | Global Merchant Services | USD 14 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2016 restructuring charges, net of revisions, for GMS. Cumulative expense on in-progress programs was $43 million. Employee counts not disclosed. | ||||
| 2016-12-31 | restructuring | in_progress | United States | Corporate & Other (Companywide support functions) | USD 218 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2016 restructuring charges, net of revisions, for Corporate & Other, including $322 million of Companywide support-function severance and other charges not allocated to segments (cumulative). Cumulative expense on in-progress programs was $399 million. Employee counts not disclosed. | ||||
| 2016-12-31 | restructuring | in_progress | USD 329 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Total restructuring charges, net of revisions, for the year ended December 31, 2016. Includes severance and other exit costs. Employee count not explicitly disclosed in the footnote. | ||||||
| 2016-12-31 | restructuring | in_progress | Global Commercial Services | USD 116,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2016-12-31 | restructuring | in_progress | Global Network And Merchant Services | USD 43,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2016-12-31 | restructuring | in_progress | USD 875,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | |||||||
| 2016-12-31 | restructuring | in_progress | Corporate And Other | USD 399,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2016-12-31 | restructuring | in_progress | Corporate And Other / Employee Severance | USD 322,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2016-12-31 | restructuring | in_progress | International Card Services | USD 216,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2016-12-31 | restructuring | in_progress | U S Card Services | USD 101,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2016-06-30 | restructuring | in_progress | Global | Company-wide | USD 232 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q2 2016 earnings included a $232 million restructuring charge ($151 million after-tax) tied to ongoing cost reduction efforts. No employee count, announcement date, or completion timeline disclosed in this filing. | ||||
| 2016-06-30 | restructuring | in_progress | USD 232 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Filing discloses a $232 million restructuring charge related to ongoing cost reduction efforts, but does not specify the number of employees affected. | ||||||
| 2016-03-31 | restructuring | in_progress | 2017-12-31 | Global | Enterprise-wide | USD 84 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q1 charge of $84M pretax ($55M after-tax) was the initial phase of a program to remove $1B from the cost base by end of 2017; further significant charges expected in future quarters. No employee count disclosed. | |||
| 2016-03-31 | restructuring | in_progress | 2015-10-01 | 2017-12-31 | Global | Corporate & Other | USD 84 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Initial phase of actions to take $1 billion out of cost base by end of 2017. Q1 2016 charge was $84 million pretax. Filer expects additional significant charges in future quarters. | ||
| 2015-12-31 | restructuring | in_progress | 2016-12-31 | Global | All segments and Corporate & Other | USD -26 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | FY2015 activity was a net reduction of $26 million: a $61 million reduction from revisions to prior estimates, offset by $35 million of net Enterprise Growth charges in Q4 (part of a $419 million Q4 EG charge including goodwill and technology impairment). Employee counts not disclosed; majority of remaining cash payments expected in 2016. | |||
| 2015-12-31 | restructuring | announced | 2017-12-31 | Global | Company-wide | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Cost initiatives launched in Q1 2016 (exact announcement date not disclosed) targeting removal of $1 billion from the overall cost base by end of 2017; expected to result in restructuring charges during 2016. No headcount reduction target disclosed. | ||||
| 2015-12-31 | restructuring | completed | 2015-01-01 | 2015-12-31 | Global | Corporate & Other (Enterprise Growth) | USD 35 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Net restructuring charges for EG recorded in the fourth quarter. Total net reduction in restructuring charges for the year was $26 million, consisting of a reduction of $61 million in revisions to prior estimates, partially offset by $35 million in net restructuring charges. | ||
| 2014-12-31 | restructuring | in_progress | United States | U.S. Card Services | USD 38 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2014 charges net of $35M in revisions to prior estimates; employees affected not disclosed. Program charges recorded in Q2 ($133M) and Q4 ($313M) company-wide. | ||||
| 2014-12-31 | restructuring | in_progress | International | International Card Services | USD 139 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2014 charges net of revisions; employees affected not disclosed. | ||||
| 2014-12-31 | restructuring | in_progress | Global | Global Commercial Services | USD 54 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2014 charges net of revisions; employees affected not disclosed. | ||||
| 2014-12-31 | restructuring | in_progress | Global | Global Network & Merchant Services | USD 25 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2014 charges net of revisions; employees affected not disclosed. | ||||
| 2014-12-31 | restructuring | in_progress | Global | Corporate & Other (includes Company-wide support functions) | USD 155 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2014 charges net of revisions; employees affected not disclosed. Restructuring liability of $470M remained at 2014-12-31, with most cash payments expected in 2015. | ||||
| 2014-12-31 | divestiture_reduction | completed | 2014-06-30 | 2014-06-30 | Global | Global Commercial Services — business travel operations | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Business travel operations deconsolidated into the non-consolidated GBT joint venture on 2014-06-30; headcount transferred not quantified in the filing. | |||
| 2014-12-31 | restructuring | completed | 2014-02-01 | Global | Multiple segments | USD 133 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Restructuring actions in the second quarter designed to make us more efficient. | |||
| 2014-12-31 | restructuring | completed | 2014-10-01 | Global | Multiple segments | USD 313 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Restructuring actions in the fourth quarter designed to make us more efficient. | |||
| 2014-09-30 | restructuring | completed | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Filing references a restructuring charge taken in the second quarter of 2014 as a driver of nine-month expense variances; no employee count, charge amount, announcement date, or completion timing is disclosed in this 10-Q. | |||||||
| 2014-09-30 | restructuring | completed | 2014-06-30 | 2014-06-30 | Global | Global Commercial Services | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Filing mentions a 'second quarter restructuring charge' in GCS and ICS segments but does not disclose the number of employees affected or specific severance amounts. | |||
| 2014-06-30 | restructuring | in_progress | 2014-06-30 | Global | Multiple segments | USD 133 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Restructuring charge of $133M ($90M after-tax) disclosed in Q2 2014 MD&A; no employee count, completion date, or geographic breakdown provided. | |||
| 2014-06-30 | divestiture_reduction | completed | 2014-06-30 | 2014-06-30 | Global | Global Commercial Services (GCS) — Global Business Travel | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | GBT operations deconsolidated into a non-consolidated JV; net gain of $626M ($409M after-tax). No headcount transferred or removed disclosed. | |||
| 2014-06-30 | restructuring | in_progress | 2014-06-30 | USD 133 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Filing discloses a $133 million restructuring charge ($90 million after-tax) in Q2 2014 but does not specify the number of employees affected. | |||||
| 2013-12-31 | restructuring | in_progress | 2012 | 2014 | Global | Company-wide | USD -4 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Company-wide restructuring plan committed to in Q4 2012. 2013 activity was a net credit of $4 million from revisions to prior estimates; $229 million of payments applied against the $470 million year-start reserve, leaving $233 million at year-end. Majority of remaining cash payments expected in 2014, with certain long-term severance and lease obligations extending to 2015 and 2019. Employees affected not disclosed. | ||
| 2013-12-31 | divestiture_reduction | announced | 2013 | 2014-06-30 | Global | Global Business Travel (Global Commercial Services) | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Announced in Q3 2013; Company plans a joint venture for GBT operations retaining an approximate 50 percent stake, with an investor group owning the remainder. Subject to definitive agreements and regulatory approvals; targeted to close in Q2 2014. Headcount transferred not disclosed. Related Retirement Restoration Plan amendment provides for continued plan participation by affected employees. | |||
| 2013-12-31 | restructuring | completed | 2013-01-01 | 2013-12-31 | Global | All segments | USD -4 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Recorded $(4) million of restructuring charges, consisting of revisions to prior estimates. No specific employee count disclosed for 2013 activity. | ||
| 2013-06-30 | restructuring | in_progress | 2013-01-31 | Global | Corporate | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Restructuring plan announced January 2013; benefits referenced in expense discussion but no employee count or charge disclosed in this filing. | ||||
| 2012-12-31 | restructuring | in_progress | 5,400 | 2013-12-31 | Global | Company-wide; major portion in Global Business Travel group and staff functions | USD 400 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Company-wide restructuring plan committed in Q4 2012 (exact announcement date not disclosed); $400M pre-tax charge ($287M after-tax), of which approximately $370M pre-tax relates to severance and employee-related costs. Expected to eliminate approximately 5,400 jobs in aggregate; staffing levels by year-end 2013 expected to be 4 to 6 percent below the then-current total of 63,500. Substantially complete by end of 2013. | ||
| 2012-12-31 | restructuring | completed | Global | Multiple segments and Corporate & Other | USD 403 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Total 2012 restructuring charges of $403M net of revisions to prior estimates, comprising the $400M Q4 company-wide plan plus $19M for smaller initiatives offset by $(16)M of revisions. Segment split disclosed: USCS $26M, ICS $54M, GCS $156M, GNMS $25M, Corporate & Other $142M. Employees-affected count not separately disclosed for the non-Q4 components. | ||||
| 2012-12-31 | restructuring | in_progress | 5,400 | 2012-10-01 | 2013-12-31 | Global | Global Business Travel and Staff Groups | USD 400 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Companywide restructuring plan announced in Q4 2012. Charges total approximately $400 million pre-tax. Includes $370 million in employee severance obligations. Expected to eliminate approximately 5,400 jobs, partly offset by new hires. Overall staffing levels by year-end 2013 expected to be 4 to 6 percent less than current total. | |
| 2012-12-31 | restructuring | in_progress | 5,400 | restructuring_footnote f5-10k / no-ai-xblr | |||||||
| 2011-12-31 | restructuring | in_progress | Global | All business units, markets and staff groups | USD 119 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2011 charges of $119M net of $27M revisions (severance $96M, other $23M); no employee count disclosed for 2011 activity. Includes $41M for facility consolidations in the global servicing network announced in Q4 2010; further lease-exit charges of $5M-$15M expected in 2012. Segment charge split: USCS $(10)M, ICS $29M, GCS $37M, GNMS $(1)M, Corporate & Other $64M. | ||||
| 2011-12-31 | acquisition_addition | completed | 2011-03-01 | Germany, Poland, India | International Card Services | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Controlling interest in Loyalty Partner acquired March 1, 2011 for $616M total consideration; acquired headcount not disclosed. Company holds an option to acquire the remaining noncontrolling interest over a three-year period beginning end of 2013. | ||||
| 2011-12-31 | restructuring | in_progress | 2011-01-01 | Global | Various | USD 119 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Recorded $119 million of restructuring charges, net of revisions. Includes $105 million for reorganizing operations across all business units and $41 million for employee compensation and lease exit costs related to global servicing network consolidation. Specific employee count not disclosed for 2011 charges. | |||
| 2011-09-30 | restructuring | in_progress | 2010-12-31 | 2012-06-30 | Global | Global servicing network | USD 50 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Facility consolidation program announced Q4 2010; expected additional charges of $50-60M pretax ($32-38M after-tax) in 2011-2012. Q3 2011 recorded $39M ($28M after-tax) of net additional severance-related reengineering costs. No employee count disclosed. | ||
| 2011-09-30 | acquisition_addition | completed | 2011-03-01 | 2011-03-01 | Germany, Poland, India | International Card Services (ICS) | USD 616 (millions) | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of controlling interest in Loyalty Partner for $616M total consideration; headcount added not disclosed. | ||
| 2011-09-30 | acquisition_addition | completed | 2010-11-10 | 2010-11-10 | United States | Global Network & Merchant Services (GNMS) | USD 151 (millions) | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Accertify (online fraud solutions) for $151M; headcount added not disclosed. | ||
| 2011-09-30 | acquisition_addition | completed | 2010-01-15 | 2010-01-15 | United States | Corporate & Other | USD 305 (millions) | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Revolution Money (rebranded as Serve) for $305M; headcount added not disclosed. | ||
| 2011-09-30 | restructuring | in_progress | 2010-10-01 | Global | Global servicing network | USD 50 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Consolidation of facilities within global servicing network. Expected aggregate additional charges $50M-$60M pretax. $11M recorded in Q1, $4M in Q2. No additional charges in Q3. Range lowered from $60M-$80M as more employees than expected chose to relocate. | |||
| 2011-06-30 | restructuring | in_progress | 2010-12-31 | 2011-12-31 | Global | Global servicing network | USD 70 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Expected aggregate pretax charge of $60M-$80M for facility consolidation in global servicing network; includes $25M-$35M employee compensation costs and $35M-$45M lease termination costs. No employee count disclosed. $11M recorded in Q1 and $4M in Q2 2011. | ||
| 2011-06-30 | restructuring | completed | Global | Corporate | USD 44 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q2 2011 recorded $44M pretax ($34M after-tax) of additional severance-related reengineering costs unrelated to the global servicing consolidation initiative. No employee count disclosed. | ||||
| 2011-06-30 | acquisition_addition | completed | 2011-03-01 | 2011-03-01 | Germany, Poland, India | International Card Services | USD 616 (millions) | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of controlling interest in Loyalty Partner for $616M total consideration. No employee headcount disclosed for the acquisition. | ||
| 2011-06-30 | restructuring | in_progress | 2010-10-01 | 2011-12-31 | Global | Global Servicing Network | USD 15 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Consolidation of facilities within global servicing network. Q1 charge $11M, Q2 charge $4M. Total expected $60M-$80M pretax. | ||
| 2011-06-30 | restructuring | completed | 2011-06-30 | 2011-06-30 | Global | Other | USD 44 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Additional severance related reengineering costs unrelated to global servicing initiatives recorded in Q2. | ||
| 2011-03-31 | restructuring | in_progress | 3,500 | 2011-01-19 | 2011-12-31 | Global | Global servicing network | USD 11 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Aggregate program announced 2011-01-19; ~3,500 jobs eliminated in aggregate (~3,200 tied to the Q4 2010 restructuring charge), but net staffing decrease of only ~550 positions as new hires offset transfers. Q1 2011 recorded $11M pretax ($7M after-tax) of additional charges; full-year 2011 expected charges of $60M-$80M pretax. Substantially complete by end of Q4 2011. | |
| 2011-03-31 | acquisition_addition | completed | 2011-03-01 | 2011-03-01 | Germany; Poland; India | International Card Services (ICS) | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Controlling interest in Loyalty Partner acquired 2011-03-01 for $616M total consideration; headcount added not disclosed. Potential future acquisition of remaining noncontrolling interest over five years (estimated fair value $150M). | |||
| 2011-03-31 | restructuring | in_progress | 3,500 | 2011-01-19 | 2011-12-31 | Global | Global Servicing Network | USD 113 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Announced Jan 19, 2011. Charges of $113M pretax recorded in Q4 2010. Includes $98M for employee severance and other costs from facility consolidation. Expected elimination of ~3,500 jobs in aggregate, with net decrease of ~550 positions due to hiring at new locations. Additional charges of $60M-$80M expected in 2011; $11M recorded in Q1 2011. | |
| 2010-12-31 | restructuring | in_progress | 3,200 | 2010-12-01 | 2011-12-31 | Global | Global servicing network | USD 98 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Plan approved by management in December 2010 to consolidate facilities within the global servicing network due to reduced service volumes migrating to online and mobile channels. Approximately 3,200 positions to be eliminated; net staffing decrease of approximately 400 positions as new employees hired at transfer locations. Substantially complete by end of Q4 2011. | |
| 2010-12-31 | restructuring | announced | 3,500 | 2011-01-19 | 2011-12-31 | Global | Company-wide reengineering | USD 60 (millions) | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Announced January 19, 2011, after fiscal year-end. Broader reengineering program totaling approximately 3,500 jobs eliminated (includes the 3,200 positions from the Q4 2010 restructuring above). Net staffing decrease approximately 550 positions. Additional charges of $60-80M pretax expected in 2011. Annualized cost savings of approximately $70M pretax starting 2012. | |
| 2010-12-31 | restructuring | in_progress | 3,200 | 2010-12-31 | 2011-12-31 | Global | Global Servicing Network | USD 98 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Consolidation of facilities within global servicing network. 3,500 jobs expected to be eliminated in total, but net staffing decrease only 550 positions due to hiring at new locations. $98 million pretax charge recorded in Q4 2010. Additional $60-80 million expected in 2011. | |
| 2010-06-30 | restructuring | completed | 2010-06-30 | 2010-06-30 | Global | Corporate | USD 4 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Net reengineering benefit of $4 million recorded in Q2 2010. Part of ongoing initiatives initiated in 2008/2009 targeting 11,000 position eliminations. | ||
| 2010-06-30 | acquisition_addition | completed | 2010-01-15 | 2010-01-15 | Global | Corporate & Other | USD 305 (millions) | business_combinations_footnote f5-10q / Qwen3.6-27B-Q8_0 | Acquisition of Revolution Money for $305 million. Headcount added not explicitly disclosed. | ||
| 2010-03-31 | restructuring | in_progress | Global | Business travel and staff group areas; primarily Global Commercial Services | USD 16 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q1 2010 restructuring charges of $16M (incl. $5M net increase to prior accruals) for downsizing and reorganizing operations. No employee count disclosed for this quarter. Remaining liability $244M at 2010-03-31; majority of cash payments expected in 2011. | ||||
| 2010-03-31 | restructuring | in_progress | Global | Company-wide reengineering initiatives (Q4 2008 and Q2 2009 programs) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Cumulative reengineering programs eliminated ~11,000 positions (~17% of workforce as of 2008-09-30). Employee count declined ~8,000 (12%) since 2008-09-30. Programs remain ongoing; no new employee count disclosed for Q1 2010. | |||||
| 2010-03-31 | acquisition_addition | completed | 2010-01-15 | United States | Corporate & Other | USD 305 (millions) | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Revolution Money acquired 2010-01-15 for ~$305M cash. No headcount added disclosed in the filing. | |||
| 2010-03-31 | restructuring | in_progress | Global Commercial Services | USD 16 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Company recorded $16 million of restructuring charges, including a net increase of $5 million to previously accrued amounts. Activity related principally to downsizing and reorganizing certain operations, and revisions of prior estimates within the Company's business travel and staff group areas. | |||||
| 2009-12-31 | restructuring | completed | 4,000 | 2009-04-01 | 2009-12-31 | Global | All business units, markets and staff groups | USD 199 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Second quarter 2009 restructuring charge of $199 million for elimination of approximately 4,000 positions (~6% of worldwide workforce). Part of a broader reengineering program targeting approximately 11,000 cumulative positions across 2008 and 2009. | |
| 2009-12-31 | restructuring | completed | 2009-07-01 | 2009-12-31 | Global | Senior leadership positions; Global Network & Merchant Services | USD 38 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Additional restructuring charges in Q3 and Q4 2009 for senior leadership reorganization and exit of a GNMS business. Headcount impact not separately disclosed. | ||
| 2009-12-31 | acquisition_addition | completed | 2010-01-15 | 2010-01-15 | United States | Enterprise Growth / Emerging Payments | USD 300 (millions) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Revolution Money acquired January 15, 2010 for approximately $300 million. Subsequent event after fiscal year-end. Headcount added not disclosed. | ||
| 2009-12-31 | restructuring | in_progress | 8,200 | 12% | 2009-02-01 | Global | All segments | USD 185 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Employee count declined 8,200 or 12 percent since September 30, 2008 primarily due to reengineering initiatives. $185 million restructuring charges recorded in 2009. | |
| 2009-09-30 | restructuring | in_progress | 11,000 | 17% | 2008 | 2010 | Global | Company-wide (all reportable segments) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Cumulative position eliminations across reengineering actions taken in the latter part of 2008 and in Q2 2009; the filing reports pretax charges of $449 million and $200 million for those two tranches respectively (not summed here). The 17% figure is measured against the global workforce at the end of Q3 2008, not quarter-end 2009. Q3 2009 restructuring charge was $6 million; Note 17 shows $684 million cumulative expense on in-progress restructuring programs initiated between 2006 and 2009, with charges allocated across USCS, ICS, GCS, GNMS and Corporate & Other. Expected completion reflects Note 17's statement that most remaining restructuring liability cash payments are expected in 2010, with certain severance arrangements to 2012 and lease obligations to 2022; no explicit completion date is given for the position eliminations themselves. | |
| 2009-09-30 | divestiture_reduction | completed | 2007-09-18 | 2009-09-10 | International | Corporate & Other (reported as discontinued operations) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of American Express International Deposit Company (AEIDC) to Standard Chartered completed 2009-09-10, within the quarter, under the put/call arrangement agreed alongside the AEB sale. Headcount removed through the divestiture was not disclosed. | |||
| 2009-09-30 | other | announced | 1 | 2009-10-02 | 2010-04-10 | United States | Executive — President | USD 10 (millions) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Individually negotiated, mutually agreed cessation of employment for Alfred F. Kelly, Jr., not part of a separation program. Active employment continues through the notice period ending 2010-04-09; $9.7 million cash separation payment payable in installments over 104 weeks from the separation date, subject to Compensation and Benefits Committee approval. Post-quarter event. | |
| 2009-09-30 | restructuring | in_progress | Global | Network services, prepaid services, and staff groups | USD 6 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Q3 2009 charges related principally to downsizing and reorganizing certain operations. Part of broader reengineering initiatives expected to eliminate approx. 11,000 positions cumulatively. | ||||
| 2009-09-30 | restructuring | in_progress | Global | Various (USCS, ICS, GCS, GNMS, Corporate) | USD 183 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | YTD 2009 charges. Year-to-date activity primarily relates to charges taken in the second quarter to further reduce operating costs. | ||||
| 2009-06-30 | restructuring | in_progress | 4,000 | 6% | 2010-06-30 | Worldwide | All business units, markets and staff groups | USD 182 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Companywide reengineering initiated in Q2 2009; eliminates about 4,000 positions, roughly 6 percent of worldwide workforce. Charge of $182 million for the three months ended June 30, 2009 is net of $18 million of adjustments to prior accruals; MD&A describes the gross pretax charge as approximately $200 million ($130 million after-tax), comprising about $177 million of severance and employee-related costs and about $23 million of other costs. Substantially all activities expected complete by end of 2009, remainder by first half of 2010. No specific announcement date stated; disclosed as undertaken during the second quarter. Restructuring liability of $421 million at June 30, 2009. Segment allocation of charges disclosed (USCS, ICS, GCS, GNMS, Corporate & Other) but employee counts are not broken out by segment. | |
| 2009-06-30 | restructuring | in_progress | 4,000 | 6% | 2009-04-01 | 2010-06-30 | Worldwide | All business units, markets and staff groups | USD 200 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Initiated in Q2 2009. Includes ~$177M severance and ~$23M other costs. Substantially all activities expected to be completed by end of 2009, remainder by first half of 2010. |
| 2009-03-31 | restructuring | in_progress | 7,000 | 10% | 2008-10-01 | 2009-12-31 | Worldwide | Company-wide | USD 449 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pretax reengineering charges of $449M ($291M after-tax) recorded in latter part of 2008; elimination of approximately 7,000 positions (~10% of total worldwide workforce). Company states it is on track to realize ~$1.8B of projected benefits over 2009. Restructuring reserve balance was $324M at 2009-03-31 per Note 16. |
| 2009-03-31 | restructuring | announced | 2009-03-31 | 2009-06-30 | Worldwide | Company-wide | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Company expects to initiate additional reengineering efforts in Q2 2009 including staff reductions; estimated charge amount not yet determined. Disclosed as forward-looking in MD&A. | |||
| 2009-03-31 | restructuring | in_progress | 2008-10-01 | Worldwide | Corporate & Other, USCS, ICS, GCS, GNMS | USD -5 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Net reversals of previously accrued amounts due to revisions of estimates of $(5) million for the quarter ended March 31, 2009. Program initiated in Q4 2008 involved elimination of approx. 7,000 positions. | |||
| 2009-03-31 | restructuring | announced | 2009-04-28 | Worldwide | Corporate & Other | subsequent_events f5-10q / Qwen3.6-27B-Q8_0 | Company expects to initiate additional reengineering efforts in Q2 2009, including staff reductions. Estimated charge amount not yet determined. | ||||
| 2008-12-31 | restructuring | in_progress | 7,000 | 10% | 2008-10-01 | 2009-03-31 | Worldwide | Multiple — business units, markets, and staff groups | USD 434 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Restructuring charges of $434M in 2008, of which $410M recorded in Q4 2008. Elimination of approximately 7,000 positions (~10% of worldwide workforce). MD&A separately reports $449M pretax reengineering charges ($291M after-tax) including non-restructuring items. Majority of cash payments expected in 2009. |
| 2008-12-31 | divestiture_reduction | completed | 2007-09-18 | 2008-02-29 | International (multiple countries) | Corporate & Other — international banking subsidiary (AEB) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of American Express Bank Ltd. to Standard Chartered completed February 29, 2008. Headcount not disclosed. Restructuring charges related to AEB disposition included in discontinued operations ($17M in 2008). | |||
| 2008-12-31 | acquisition_addition | completed | 2008-03-28 | 2008-03-28 | United States | Global Commercial Services / U.S. Card Services | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Corporate Payment Services (CPS) from General Electric for $2.3B total cash consideration. Headcount added not disclosed. | |||
| 2008-12-31 | restructuring | in_progress | 7,000 | 10% | 2008-10-01 | 2009-03-31 | Worldwide | Various | USD 449 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Pretax reengineering charges of $449 million recorded in Q4 2008. Plan includes lowering staff levels and compensation expense. Expected to be substantially completed with elimination of approx 7,000 positions (approx 10% of total worldwide workforce) in Q1 2009. |
| 2008-09-30 | restructuring | announced | 7,000 | 10% | 2008-10-27 | 2009-12-31 | Worldwide | Business units, markets and staff groups; primarily management and non-customer-facing positions | USD 405 (millions) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pretax charge range disclosed as $370M-$440M ($240M-$290M after-tax) for Q4 2008; midpoint shown. Management announced intent in July 2008 and committed on 2008-10-27. Includes ~$340M-$380M severance and employee-related costs plus $30M-$60M other costs. Expected 2009 benefits of ~$1.8B total ($700M staffing/compensation, $125M operating costs, $1.0B investment spending). |
| 2008-09-30 | restructuring | announced | 7,000 | 10% | 2008-10-27 | 2009-12-31 | Worldwide | Management and other positions that do not interact directly with customers | USD 370 (millions) | subsequent_events f5-10q / Qwen3.6-27B-Q8_0 | Announced Oct 27, 2008. Charge of $370M-$440M pretax ($240M-$290M after-tax) expected in Q4 2008. Includes $340M-$380M severance/employee costs and $30M-$60M other costs. Activities to be completed in 2009. |
| 2008-06-30 | acquisition_addition | completed | 2008-03-28 | United States | Global Commercial Services; U.S. Card Services | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquired GE's Corporate Payment Services business for $2.3B cash; no employee headcount disclosed. | ||||
| 2008-06-30 | divestiture_reduction | completed | 2007-09-18 | 2008-02-29 | International | Corporate & Other (American Express Bank Ltd.) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of AEB to Standard Chartered completed Feb 29, 2008; no employee headcount disclosed. | |||
| 2008-06-30 | restructuring | in_progress | United States | Global Commercial Services; Corporate & Other | USD 7 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Reengineering costs of $7M ($4M after-tax) in Q2 2008; no employee count disclosed. | ||||
| 2008-06-30 | restructuring | in_progress | United States | Corporate & Other | USD 17 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | YTD reengineering costs of $17M ($11M after-tax) in Corporate & Other; no employee count disclosed. | ||||
| 2008-06-30 | restructuring | in_progress | Global Commercial Services; Corporate & Other | USD 7 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Reengineering costs incurred in Q2 2008. | |||||
| 2008-06-30 | restructuring | in_progress | Corporate & Other | USD 5 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Reengineering costs included in Q2 2008 charge. | |||||
| 2008-06-30 | restructuring | in_progress | Corporate & Other | USD 17 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Reengineering costs for the six months ended June 30, 2008, primarily in Q1. | |||||
| 2008-06-30 | acquisition_addition | completed | 2008-03-28 | Global Commercial Services; U.S. Card Services | business_combinations_footnote f5-10q / Qwen3.6-27B-Q8_0 | Acquisition of Corporate Payment Services (CPS) from GE. Headcount not disclosed. | |||||
| 2008-03-31 | restructuring | in_progress | 2009-12-31 | International; United States | Business travel, prepaid services, international payments, technology, international banking | USD 15 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q1 2008 charges of $15M ($5M continuing, $10M discontinued); no employee counts disclosed. Cash payments expected through 2009, long-term severance through 2010, leases to 2017. | |||
| 2008-03-31 | acquisition_addition | completed | 2008-03-28 | 2008-03-28 | United States | Global Commercial Services; U.S. Card Services | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquired GE's commercial card and corporate purchasing unit for $2.3B cash; no headcount disclosed. | |||
| 2008-03-31 | divestiture_reduction | completed | 2007-09-18 | 2008-02-29 | International | Corporate & Other — American Express Bank Ltd. | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale to Standard Chartered completed 2008-02-29 for $823M; no headcount disclosed. | |||
| 2008-03-31 | restructuring | in_progress | 2017-12-31 | Business travel, prepaid services, international payments, technology, international banking | USD 15 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges related to consolidation of operations, closing sites, and exiting international banking businesses. Completion expected by 2009 for most, 2010 for long-term severance, and 2017 for certain lease obligations. | ||||
| 2007-12-31 | restructuring | in_progress | 2009-12-31 | United States | U.S. Card Services | USD 13 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | FY2007 restructuring charges, net of reversals, allocated by segment; remaining cash payments expected complete in 2009. | |||
| 2007-12-31 | restructuring | in_progress | 2009-12-31 | International | International Card Services | USD 12 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | FY2007 restructuring charges, net of reversals, allocated by segment; remaining cash payments expected complete in 2009. | |||
| 2007-12-31 | restructuring | in_progress | 2009-12-31 | Global | Global Commercial Services | USD 19 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | FY2007 restructuring charges, net of reversals, allocated by segment; remaining cash payments expected complete in 2009. | |||
| 2007-12-31 | restructuring | in_progress | 2009-12-31 | Global | Global Network & Merchant Services | USD 4 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | FY2007 restructuring charges, net of reversals, allocated by segment; remaining cash payments expected complete in 2009. | |||
| 2007-12-31 | restructuring | in_progress | 2009-12-31 | Corporate & Other | USD 1 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | FY2007 restructuring charges, net of reversals, allocated by segment; program includes initiatives initiated between Q4 2004 and Q4 2007. | ||||
| 2007-12-31 | divestiture_reduction | announced | 2007-09-18 | 2008-03-31 | International | Corporate & Other — International Banking (American Express Bank Ltd. and AEIDC) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale to Standard Chartered PLC for approximately $1.1 billion, subject to regulatory approvals; expected to close in Q1 2008. Workforce impact not disclosed. | |||
| 2007-12-31 | acquisition_addition | completed | 2007-09-30 | United States | U.S. Card Services | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Purchased all outstanding shares of AMEX Assurance Company from Ameriprise for $115 million; previously consolidated as a VIE in U.S. Card Services, so no consolidated financial statement impact. Headcount not disclosed. | ||||
| 2007-12-31 | acquisition_addition | completed | Global Commercial Services | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2007 acquisition of a travel services business; approximately $18 million of goodwill recorded. Completion date and headcount not disclosed. | ||||||
| 2007-12-31 | divestiture_reduction | completed | 2007-05-31 | Russia | Global Network & Merchant Services | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of merchant-related activities to Russian Standard Bank for approximately $27 million ($18 million after-tax gain). Headcount not disclosed. | ||||
| 2007-12-31 | divestiture_reduction | completed | Philippines | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of local proprietary card issuing business during 2007; completion date, proceeds, and headcount not disclosed. | ||||||
| 2007-12-31 | restructuring | in_progress | 2012-12-31 | Global | Business travel, prepaid services, international payments, technology | USD 49 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Charges recorded in 2007 related to business travel, prepaid services, international payments, and technology. Cash payments expected to be completed by 2012 for certain lease obligations. | |||
| 2007-09-30 | restructuring | in_progress | 2009-03-31 | United States | U.S. Card Services | USD 13 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Nine-month restructuring charges net of reversals; severance and other exit costs. Cash payments expected complete by end of Q1 2009. | |||
| 2007-09-30 | restructuring | in_progress | 2009-03-31 | International | International Card Services | USD 3 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Nine-month restructuring charges net of reversals for international payments business. | |||
| 2007-09-30 | restructuring | in_progress | 2009-03-31 | Global | Global Commercial Services | USD 19 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Nine-month restructuring charges net of reversals, principally corporate travel business consolidation. | |||
| 2007-09-30 | restructuring | in_progress | 2009-03-31 | Global | Global Network & Merchant Services | USD 4 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Nine-month restructuring charges net of reversals. | |||
| 2007-09-30 | restructuring | in_progress | 2009-03-31 | United States | Corporate & Other | USD 4 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Nine-month restructuring charges net of reversals; includes prepaid services and technology areas. | |||
| 2007-09-30 | divestiture_reduction | announced | 2007-09-18 | International | American Express Bank Ltd. (AEB) and American Express International Deposit Company (AEIDC) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Agreement to sell AEB and AEIDC to Standard Chartered PLC for approximate value of $1.1 billion, subject to regulatory approvals. Classified as discontinued operations beginning Q3 2007; no headcount disclosed. | ||||
| 2007-09-30 | restructuring | in_progress | 2009-03-31 | Global | Corporate travel, prepaid services, and technology | USD 11 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Q3 2007 charges primarily related to corporate travel business. Cash payments for remaining liabilities expected by end of Q1 2009, except long-term severance (Q4 2009) and leases (2012). | |||
| 2007-09-30 | restructuring | in_progress | 2009-03-31 | Global | Corporate travel, prepaid services, and technology | USD 43 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | YTD 2007 charges related to corporate travel, prepaid services, and technology areas. Includes severance and other exit costs. | |||
| 2007-06-30 | restructuring | in_progress | 2009-12-31 | United States | U.S. Card Services | USD 13 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Six-month restructuring charges net of reversals for USCS; severance portion $8M, other $5M. Employee counts not disclosed. | |||
| 2007-06-30 | restructuring | in_progress | 2009-12-31 | International | International Card & Global Commercial Services | USD 13 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Six-month restructuring charges net of reversals for ICGCS; severance portion $13M. Employee counts not disclosed. | |||
| 2007-06-30 | restructuring | in_progress | 2009-12-31 | Global | Global Network & Merchant Services | USD 3 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Six-month restructuring charges net of reversals for GNMS; severance portion $2M, other $1M. Employee counts not disclosed. | |||
| 2007-06-30 | restructuring | in_progress | 2009-12-31 | Global | Corporate & Other | USD 3 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Six-month restructuring charges net of reversals for Corporate & Other; includes a $(4)M severance reversal. Employee counts not disclosed. | |||
| 2007-06-30 | restructuring | in_progress | 2009-12-31 | Corporate travel and prepaid services | USD 7 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Q2 2007 charges related to corporate travel and prepaid services. Cash payments for remaining liabilities expected by end of Q4 2009, except certain lease obligations expiring in 2012. | ||||
| 2007-06-30 | restructuring | in_progress | 2009-12-31 | Technology, prepaid services, and corporate travel | USD 32 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | YTD 2007 charges related to technology, prepaid services, and corporate travel areas. Includes severance and other exit costs. | ||||
| 2007-03-31 | restructuring | in_progress | 2009-03-31 | United States | Technology, Travelers Cheque, Corporate Travel, and other businesses | USD 25 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q1 2007 charges of $25M ($16M severance, $9M other), net of $7M reversals. Severance in human resources expense; exit costs in occupancy, professional services, and other. Cash payments expected complete by end of Q1 2009, except certain lease obligations running to 2012. Employee counts not disclosed. Cumulative in-progress program expense to date: $348M across all segments. | |||
| 2007-03-31 | restructuring | in_progress | 2009-03-31 | U.S. Card Services | USD 13 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Includes $8M severance and $5M other exit costs. Cash payments for remaining liabilities expected by end of Q1 2009, except certain lease obligations expiring in 2012. | ||||
| 2007-03-31 | restructuring | in_progress | 2009-03-31 | International Card & Global Commercial Services | USD 7 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Includes $7M severance and $0M other exit costs. Cash payments for remaining liabilities expected by end of Q1 2009, except certain lease obligations expiring in 2012. | ||||
| 2007-03-31 | restructuring | in_progress | 2009-03-31 | Global Network & Merchant Services | USD 2 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Includes $2M severance and $0M other exit costs. Cash payments for remaining liabilities expected by end of Q1 2009, except certain lease obligations expiring in 2012. | ||||
| 2007-03-31 | restructuring | in_progress | 2009-03-31 | Corporate & Other | USD 3 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Includes -$1M severance (reversal) and $4M other exit costs. Cash payments for remaining liabilities expected by end of Q1 2009, except certain lease obligations expiring in 2012. | ||||
| 2006-12-31 | restructuring | in_progress | 2008-03-31 | Global | Business travel, operations, finance, and technology | USD 100 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2006 charges comprised $89M severance and $11M other exit costs; employees affected not disclosed. MD&A reports broader 2006 reengineering costs of $154M (including $111M severance and $43M non-severance exit costs) for the same program areas. Cash payments on remaining liabilities expected complete by end of Q1 2008, except certain lease obligations running to 2010; $93M liability balance remained at year-end. | |||
| 2006-12-31 | divestiture_reduction | completed | 2006-06-30 | 2006-06-30 | Brazil | International Card & Global Commercial Services; Global Network & Merchant Services | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of card and merchant-related activities and international banking activities to Banco Bradesco for approximately $470M; headcount impact not disclosed. Company retained presence through a Global Network Services arrangement. | |||
| 2006-12-31 | divestiture_reduction | completed | 2006-09-30 | 2006-09-30 | Malaysia; Indonesia | International Card & Global Commercial Services | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Combined proceeds of $94M for sales to Maybank (Malaysia) and Bank Danamon (Indonesia); headcount impact not disclosed. Completed during Q3 2006; exact date stated only as third quarter. | |||
| 2006-12-31 | acquisition_addition | completed | 2006-12-31 | 2006-12-31 | International Card & Global Commercial Services | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Harbor Payments, Inc. (electronic invoice and payment technology provider) for approximately $150M, paid primarily in common stock (2,424,660 shares to 15 former shareholders); acquired headcount not disclosed. | ||||
| 2006-12-31 | restructuring | completed | Global | Business travel, operations, finance, and technology | USD 100 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Recorded $100 million in restructuring charges relating to consolidation of business operations, closing of operating sites, and exiting certain businesses. Comprised of $89 million severance and $11 million other exit costs. | ||||
| 2006-09-30 | restructuring | in_progress | 2008-03-31 | United States; International | Business travel operations; Travelers Cheque; international card businesses | USD 44 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q3 severance charges net of reversals were $9M; YTD severance charges net of reversals were $53M. Total restructuring liability at 2006-09-30 was $88M ($85M severance, $3M other). Cash payments expected to complete by end of Q1 2008, except certain lease obligations running to 2010. No employee counts disclosed. | |||
| 2006-09-30 | divestiture_reduction | completed | 2006-06-30 | Brazil | Card and merchant-related activities; international banking | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale to Banco Bradesco completed 2006-06-30 for approximately $470M. Company retains presence via Global Network Services arrangement. No employee counts disclosed. | ||||
| 2006-09-30 | divestiture_reduction | completed | 2006-09-30 | Malaysia; Indonesia | Card and merchant-related activities | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sales to Maybank (Malaysia) and Bank Danamon (Indonesia) for combined proceeds of $94M, completed during Q3 2006. Company retains presence via Global Network Services arrangements. No employee counts disclosed. | ||||
| 2006-09-30 | restructuring | in_progress | 2008-03-31 | Global | Business travel operations, Travelers Cheque, international card businesses | USD 9 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Q3 2006 charges of $9M (severance and other exit costs). Cash payments for remaining liabilities expected by end of Q1 2008, except lease obligations expiring in 2010. Employee count not disclosed. | |||
| 2006-09-30 | restructuring | in_progress | 2008-03-31 | Global | Business travel operations, Travelers Cheque, international card businesses | USD 53 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | YTD 2006 charges of $53M (severance and other exit costs). Cash payments for remaining liabilities expected by end of Q1 2008, except lease obligations expiring in 2010. Employee count not disclosed. | |||
| 2006-06-30 | restructuring | in_progress | United States; International | Finance; International Card; Business Travel; Travelers Cheque | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Severance liability of $98M at 2006-06-30 across segments; no employee headcount disclosed. Q2 severance charges of $33M; YTD severance charges of $44M per MD&A. | |||||
| 2006-06-30 | divestiture_reduction | completed | 2006-06-30 | Brazil | International banking operations | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of international banking operations in Brazil to Bradesco completed 2006-06-30; no employee headcount disclosed. | ||||
| 2006-06-30 | divestiture_reduction | completed | 2006-06-30 | Brazil | Card and merchant-related activities | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of card and merchant-related activities in Brazil to Bradesco completed 2006-06-30; 1.3M proprietary cards transferred to Global Network & Merchant Services segment; no employee headcount disclosed. | ||||
| 2006-06-30 | restructuring | in_progress | Global | Finance, International Card, Business Travel, Travelers Cheque | USD 44 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | YTD severance charges of $44 million recorded for initiatives in finance, international card, business travel, and Travelers Cheque areas. Employee counts not disclosed. | ||||
| 2006-06-30 | restructuring | in_progress | Global | Finance, International Card, Business Travel, Travelers Cheque | USD 33 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Q2 severance charges of $33 million recorded for reengineering efforts. Employee counts not disclosed. | ||||
| 2006-03-31 | restructuring | in_progress | United States; International | Business Travel; Travelers Cheque; International Card | USD 18 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q1 2006 restructuring charges of $18M ($11M severance, $7M other exit costs) across business travel, Travelers Cheque, and international card businesses. Severance liability of $90M and other exit liability of $8M at March 31, 2006. No employee headcount affected disclosed. | ||||
| 2006-03-31 | divestiture_reduction | announced | 2006-03-01 | 2006-06-30 | Brazil | Card and related operations | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Agreement announced in March 2006 to sell card and related operations in Brazil to Banco Bradesco for approximately $490 million; closing expected in Q2 2006. No headcount impact disclosed. | |||
| 2006-03-31 | restructuring | in_progress | 2006-03-31 | Global | Business travel, Travelers Cheque, international card businesses | USD 18 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Severance obligations included in human resources expenses. Total restructuring charges were $18 million severance and $7 million other exit costs. | |||
| 2005-12-31 | restructuring | in_progress | 2006-12-31 | United States | U.S. Card Services | USD 10 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2005 reengineering charge, all severance. $6 million paid during 2005; $4 million liability remaining at year-end. | |||
| 2005-12-31 | restructuring | in_progress | 2006-12-31 | International | International Card & Global Commercial Services | USD 168 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2005 charge of $88M severance and $12M other exit costs (principally Corporate Travel and international operations). $124 million paid during 2005; $52 million liability remaining at year-end. | |||
| 2005-12-31 | restructuring | in_progress | 2006-12-31 | United States | Global Network & Merchant Services | USD 3 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2005 reengineering charge, all severance. $1 million paid during 2005; $2 million liability remaining at year-end. | |||
| 2005-12-31 | restructuring | in_progress | 2006-12-31 | United States | Corporate & Other (finance and technology functions) | USD 105 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2005 charge of $63M severance and $17M other exit costs. $34 million paid during 2005; $49 million liability remaining at year-end. Segment charges sum to the $286 million total 2005 reengineering cost disclosed in MD&A ($164M severance, $29M other exit costs, remainder other items). | |||
| 2005-12-31 | divestiture_reduction | completed | 2005-09-30 | Global | American Express Financial Advisors (Ameriprise Financial, Inc.) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Tax-free spin-off of Ameriprise completed 2005-09-30; net assets distributed treated as a non-cash dividend reducing shareholders' equity by $7.7 billion. Headcount transferred not disclosed. | ||||
| 2005-12-31 | divestiture_reduction | completed | 2005-09-30 | United States | American Express Tax and Business Services, Inc. (TBS) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of TBS to H&R Block, Inc. among certain third-quarter 2005 dispositions for cash proceeds of approximately $190 million, generating a net after-tax gain of about $63 million. Headcount transferred not disclosed. | ||||
| 2005-12-31 | restructuring | completed | 2005 | 2006-12-31 | Global | Business travel, international operations, finance and technology | USD 193 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Reengineering costs of $286 million included $193 million of restructuring costs. Liability balance at Dec 31, 2005 was $107 million for future cash outlays expected to be paid out prior to the end of 2006. | ||
| 2005-09-30 | restructuring | in_progress | Global | Business travel, international payments, finance, technologies, international operations | USD 66 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q3 2005 charges of $66M: $53M severance (in human resources expenses) and $13M other exit costs (in other expenses). No employee headcount disclosed. Prior six months 2005 charges totaled $99M. Severance liability at 2005-09-30 was $114M; other exit cost liability was $11M. | ||||
| 2005-09-30 | divestiture_reduction | completed | 2005-09-30 | Global | Ameriprise Financial (financial planning and financial services) and American Express Tax and Business Services | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Spin-off of Ameriprise completed 2005-09-30; TBS sale completed Q3 2005 for ~$190M cash proceeds. No employee headcount associated with these dispositions was disclosed. | ||||
| 2005-09-30 | restructuring | in_progress | Global | Business travel, finance, technologies, international operations | USD 66 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Q3 2005 charges of $66 million ($53 million severance, $13 million other exit costs). Cumulative YTD 2005 charges were $165 million ($99 million in H1, $66 million in Q3). Employee counts not disclosed. | ||||
| 2005-09-30 | divestiture_reduction | completed | 2005-09-30 | Global | Financial planning and financial services (Ameriprise) | other f5-10q / Qwen3.6-27B-Q8_0 | Spin-off of Ameriprise Financial completed on Sept 30, 2005. Assets and liabilities removed from balance sheet. Employee counts not disclosed. | ||||
| 2005-09-30 | divestiture_reduction | completed | 2005-09-30 | United States | Tax, accounting and consulting (TBS) | other f5-10q / Qwen3.6-27B-Q8_0 | Sale of American Express Tax and Business Services, Inc. (TBS) completed in Q3 2005. Net after-tax gain of $63 million. Employee counts not disclosed. | ||||
| 2005-06-30 | restructuring | in_progress | Global | Travel Related Services — international payments, business travel, finance and technologies | USD 89 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q2 2005 charge of $89M: $80M severance (in human resources expenses) and $9M other exit costs (in other expenses). No employee headcount disclosed. Severance liability balance at June 30, 2005 was $94M; total restructuring liability $106M. | ||||
| 2005-06-30 | divestiture_reduction | announced | 2005-08-01 | 2005-09-30 | Global | American Express Tax and Business Services (TBS) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Agreement to sell accounting and consulting business unit for approximately $220 million; expected to close Q3 2005 subject to regulatory approvals. No headcount impact disclosed. | |||
| 2005-06-30 | divestiture_reduction | announced | 2005-02-01 | 2005-09-30 | Global | American Express Financial Advisors (AEFA) — spin-off to Ameriprise Financial | USD 59 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Spin-off of AEFA announced Feb 1, 2005; $59M ($38M after-tax) spin-off related expenses incurred in Q2 2005 ($81M YTD). No employee headcount disclosed. Company plans $1B capital infusion to Ameriprise pre-spin-off. | ||
| 2005-06-30 | restructuring | in_progress | 2005-04-01 | Global | Travel Related Services (International Payments, Business Travel, Finance and Technologies) | USD 89 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Q2 2005 charges of $89 million ($80M severance, $9M other exit costs). Employee count not disclosed. | |||
| 2005-06-30 | restructuring | in_progress | 2005-01-01 | Global | Travel Related Services (Business Travel) | USD 10 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Q1 2005 charges of $10 million relating to business travel operations. Employee count not disclosed. | |||
| 2005-06-30 | restructuring | in_progress | 2005-01-01 | Global | American Express Financial Advisors (Spin-off related) | USD 59 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Q2 2005 spin-off related expenses of $59 million. Employee count not disclosed. | |||
| 2005-03-31 | restructuring | in_progress | Global | Travel Related Services — business travel operations; finance group; banking operations | USD 10 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q1 2005 charges of $10M for business travel restructuring and reengineering of finance and banking functions; no employee count disclosed. Severance liability roll-forward shows $9M in severance charges and $1M in other charges during the quarter. | ||||
| 2005-03-31 | divestiture_reduction | announced | 2005-02-01 | 2005-09-30 | Global | American Express Financial Advisors (AEFA) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Planned tax-free spin-off of AEFA announced 2005-02-01, expected completion late Q3 2005. No headcount impact disclosed. $22M in spin-off related expenses recorded in Q1 2005. | |||
| 2005-03-31 | restructuring | in_progress | Travel Related Services | USD 10 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges relate principally to restructuring activities associated with business travel operations. Employee count not disclosed. | |||||
| 2004-12-31 | restructuring | in_progress | 2004-10-01 | 2005-12-31 | United States | Travel Related Services — Business Travel operations | USD 64 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Q4 2004 charge of $64M ($46M severance, $18M other exit costs) for restructuring of business travel operations; $20M liability remaining at year-end | ||
| 2004-12-31 | restructuring | in_progress | 2004-10-01 | 2005-12-31 | United States | American Express Financial Advisors | USD 3 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Q4 2004 charge of $3M, all severance; $2M liability remaining at year-end | ||
| 2004-12-31 | restructuring | in_progress | 2004-11-01 | 2005-12-31 | Bangladesh, Egypt, Luxembourg, Pakistan | American Express Bank | USD 44 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Full-year 2004 charge of $44M ($30M severance, $14M other) for decision to sell certain AEB operations; $35M recorded in Q4 per Note 22, remainder earlier in year; $35M liability remaining at year-end | ||
| 2004-12-31 | restructuring | completed | 2004-10-01 | 2005-12-31 | Global | Travel Related Services; American Express Bank; Corporate | USD 102 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Aggregate restructuring charges of $102 million recorded in Q4 2004. Includes $79 million employee severance and $23 million other exit costs. Initiatives relate to business travel operations restructuring, sale of certain AEB operations (Bangladesh, Egypt, Luxembourg, Pakistan), and finance operations relocation. Liability balance of $81 million at year-end expected to be paid prior to end of 2005. Employee count not explicitly disclosed in footnote. | ||
| 2004-06-30 | acquisition_addition | completed | 1,000 | 2003-09-30 | United States | American Express Financial Advisors | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Approximately 1,000 employees added from the acquisition of Threadneedle Asset Management Holdings LTD, completed in late 2003. | |||
| 2004-03-31 | acquisition_addition | completed | 1,000 | 2003-09-30 | United States | American Express Financial Advisors (AEFA) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Threadneedle acquisition added approximately 1,000 employees to AEFA home office as of September 30, 2003. | |||
| 2003-12-31 | acquisition_addition | completed | 2,700 | 2003-10-08 | 2003-10-08 | United States, Canada, United Kingdom | Global Corporate Services (Corporate Travel) | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Rosenbluth International acquisition completed October 2003; added approximately 2,700 employees and nearly 400 servicing locations. | ||
| 2003-12-31 | acquisition_addition | completed | 1,000 | 2003-09-30 | 2003-09-30 | United Kingdom | American Express Financial Advisors (Asset Management) | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Threadneedle Asset Management Holdings Ltd acquisition completed September 30, 2003; approximately 1,000 persons employed. | ||
| 2003-12-31 | restructuring | completed | 500 | 2002-07-01 | 2003-12-31 | International | Travel Related Services | USD 19 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Second half 2002 charge of $19 million at TRS for elimination of approx 500 jobs in international operations. | |
| 2003-12-31 | restructuring | completed | 2002-07-01 | 2003-12-31 | International | American Express Bank | USD 5 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Second half 2002 charge of $5 million at AEB for additional reviews of operations. | ||
| 2003-12-31 | acquisition_addition | completed | 2,700 | 2003-10-01 | 2003-12-31 | United States, Canada, United Kingdom, Europe, Asia, Pacific Rim | Travel Related Services | Item_1_Business f5-10k / Qwen3.6-27B-Q8_0 | Acquisition of Rosenbluth International added approx 2,700 employees as of year-end. | ||
| 2003-09-30 | acquisition_addition | completed | 1,000 | 2003-09-30 | 2003-09-30 | United Kingdom | American Express Financial Advisors | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Acquisition of Threadneedle Asset Management Holdings LTD completed on Sept 30, 2003. MD&A states Threadneedle 'added approximately 1,000 employees at September 30, 2003' within the AEFA home office. | ||
| 2003-03-31 | restructuring | completed | USD -13 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Net benefit recognized to adjust reserves established during 2001; no employee count disclosed. | ||||||
| 2002-12-31 | restructuring | completed | 500 | 2002-12-31 | International | Travel Related Services | USD 19 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | New 2002 restructuring charge at TRS; $14M severance for ~500 jobs eliminated plus $5M other costs for relocation of certain international operations | ||
| 2002-12-31 | restructuring | completed | 2002-12-31 | International | American Express Bank | USD 5 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | New 2002 restructuring charge at AEB; $3M severance and $2M other costs; no specific employee count disclosed | |||
| 2002-12-31 | restructuring | completed | 4,100 | 2002-12-31 | Global | Multiple | USD -31 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Net reversal of 2001 restructuring plans: $62M severance reversal for ~4,100 employees redeployed or voluntarily attrited, offset by $31M additional exit costs; net pretax reversal of $31M | ||
| 2002-12-31 | restructuring | completed | 500 | 2002-06-30 | 2002-12-31 | International | Travel Related Services | USD 19 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | TRS charge consists of $14 million severance for approx 500 jobs and $5 million other costs. | |
| 2002-12-31 | restructuring | completed | 2002-06-30 | 2002-12-31 | International | American Express Bank | USD 5 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | AEB charge consisted of $3 million severance and $2 million other costs. Employee count not specified. | ||
| 2002-09-30 | restructuring | in_progress | 9,000 | 2001 | Global | Consolidated (TRS, AEFA, AEB, Corporate and Other) | USD 631 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Cumulative terminations since program inception in H2 2001; $631M pretax charge recorded in Q3-Q4 2001. Q3 2002 liability of $222M remains. | ||
| 2002-09-30 | restructuring | in_progress | 2002-07-01 | Global | Travel Related Services (TRS) | USD -19 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | First-half 2002 net benefit of $19M pretax from reserve adjustments; driven by attrition or redeployment of about 3,700 employees whose positions were eliminated. | |||
| 2002-09-30 | restructuring | in_progress | 2002-07-01 | Global | American Express Bank (AEB) | USD 4 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q3 2002 charge of $4M pretax ($2M after-tax) comprising $2M severance and $2M other costs, alongside a $6M reversal of 2001 reserves. | |||
| 2002-09-30 | restructuring | in_progress | 3,700 | 2001-10-01 | Global | Various | USD -53 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Reversal of severance benefits due to voluntary attrition or redeployment of approx. 3,700 employees whose jobs were eliminated in 2001 plans. | ||
| 2002-09-30 | restructuring | completed | 9,000 | 2001-10-01 | Global | Various | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Cumulative total of approximately 9,000 employees terminated since inception of the restructuring plans as of September 30, 2002. | |||
| 2002-06-30 | restructuring | in_progress | 7,600 | Domestic and international | Travel Related Services (TRS) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Program initiated in the third and fourth quarters of 2001 with aggregate charges of $631 million pretax ($411 million after-tax). Count of 7,600 reflects employees terminated since inception as of 2002-06-30, in addition to voluntary attrition or redeployment. Q2 2002 activity was a net $6 million pretax benefit: reversal of severance for about 1,100 employees whose positions were eliminated, offset by $12 million of additional exit and facility consolidation costs. Remaining severance-related liability was $293 million at 2002-06-30 ($180 million severance, $113 million other). | ||||
| 2002-06-30 | restructuring | in_progress | 1,100 | 2001-10-01 | Global | Travel Related Services | USD -6 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Q2 2002 adjustment: reversal of severance for ~1,100 employees due to voluntary attrition/redeployment. Net benefit of $6M pretax. | ||
| 2002-06-30 | restructuring | in_progress | 1,700 | 2001-10-01 | Global | Travel Related Services | USD -13 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Q1 2002 adjustment: reversal of severance for ~1,700 employees due to voluntary attrition/redeployment. Net benefit of $13M pretax. | ||
| 2002-06-30 | restructuring | completed | 7,600 | 2001-10-01 | Global | Travel Related Services | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Cumulative terminations since inception of the restructuring plan as of June 30, 2002. | |||
| 2002-03-31 | restructuring | in_progress | 6,600 | 2001-07-01 | Global | Travel Related Services | USD 369 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Cumulative terminations since plan inception (initiated H2 2001). Remaining liability of $369M at 2002-03-31. Q1 2002 saw a $13M net pretax benefit from reversing severance for ~1,700 employees who attrited or were redeployed, offset by $4M additional exit costs. Approximately 6,600 employees terminated since inception. | ||
| 2002-03-31 | plant_closure | in_progress | 2002-01-01 | Jersey City, New Jersey, United States | Travel Related Services | USD 12 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Decision to exit Jersey City office space and utilize owned space at World Financial Center headquarters. $12M exit cost recorded in Q1 2002, partially offset by $8M reduction from revised travel office closure plans. | |||
| 2002-03-31 | restructuring | in_progress | 1,700 | 2001-09-30 | United States | Travel Related Services | USD -17 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Reversal of severance liability for approx. 1,700 employees whose jobs were eliminated in prior year, due to voluntary attrition or redeployment. | ||
| 2002-03-31 | restructuring | in_progress | 6,600 | 2001-09-30 | Global | Corporate | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Cumulative count of employees terminated since inception of the restructuring plan initiated in late 2001. | |||
| 2001-12-31 | restructuring | in_progress | 10,900 | Global | Travel Related Services | USD 414 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pretax charge of $414M ($267M after-tax). Charges incurred in Q3 and Q4 2001 from accelerating reengineering initiatives. 3,300 of total 12,900 planned reductions company-wide were terminated as of December 31, 2001; majority of reductions expected in 2002. | |||
| 2001-12-31 | restructuring | in_progress | 1,300 | Global | American Express Financial Advisors | USD 107 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pretax charge of $107M ($70M after-tax). Primarily severance for elimination of approximately 1,300 jobs and facility consolidation costs. | |||
| 2001-12-31 | restructuring | in_progress | 500 | Global | American Express Bank | USD 96 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pretax charge of $96M ($65M after-tax). Includes $26M recorded in provisions for losses related to scaling back corporate lending in parts of Asia, Latin America, and Europe. | |||
| 2001-12-31 | restructuring | in_progress | 200 | Global | Corporate and Other | USD 14 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pretax charge of $14M ($9M after-tax). | |||
| 2001-12-31 | restructuring | in_progress | 1,600 | Global | Company-wide | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Approximately 1,600 reductions identified during 2001 from ongoing reengineering activities, in addition to the 12,900 reductions under the formal restructuring program. No separate charge disclosed for these reductions. | ||||
| 2001-12-31 | restructuring | in_progress | 10,900 | 2001-09-30 | 2002-12-31 | Global | Travel Related Services | USD 414 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Third and fourth quarter 2001 restructuring charges. Majority of reductions occur in 2002. | |
| 2001-12-31 | restructuring | in_progress | 1,300 | 2001-09-30 | 2002-12-31 | Global | American Express Financial Advisors | USD 107 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Third and fourth quarter 2001 restructuring charges. Majority of reductions occur in 2002. | |
| 2001-12-31 | restructuring | in_progress | 500 | 2001-09-30 | 2002-12-31 | Global | American Express Bank | USD 96 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Third and fourth quarter 2001 restructuring charges. Majority of reductions occur in 2002. | |
| 2001-12-31 | restructuring | in_progress | 200 | 2001-09-30 | 2002-12-31 | Global | Corporate and Other | USD 14 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Third and fourth quarter 2001 restructuring charges. Majority of reductions occur in 2002. | |
| 2001-09-30 | restructuring | in_progress | 4,700 | 2001-07-18 | 2002-03-31 | Global | Travel Related Services (TRS) | USD 195 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pretax charge; $127M after-tax. Severance of $128M for job eliminations, remainder primarily lease/equipment abandonment and exit costs. Includes relocation/outsourcing of finance, operations, customer support and technology functions and transition of business travel operations to the Internet. Announcement date reflects the July 18, 2001 Form 8-K disclosing intent to take a third-quarter restructuring charge; the filing states the charge was incurred during the third quarter of 2001. | |
| 2001-09-30 | restructuring | in_progress | 900 | 2001-07-18 | 2002-03-31 | United States | American Express Financial Advisors (AEFA) | USD 62 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pretax charge; $41M after-tax. $16M severance for approximately 900 employees to optimize client service organization and field force leadership structures; remainder primarily office lease and equipment abandonment costs. | |
| 2001-09-30 | restructuring | in_progress | 400 | 2001-07-18 | 2002-03-31 | Asia, Latin America and Europe | American Express Bank (AEB) | USD 84 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pretax charge; $57M after-tax. Relates to scaling back AEB corporate lending activities; includes $24M currency translation losses previously in shareholders' equity, $26M additional loan loss provisions, and $29M severance for approximately 400 employees. | |
| 2001-09-30 | restructuring | in_progress | 100 | 2001-07-18 | 2002-03-31 | Global | Corporate & Other | USD 11 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Pretax charge; $7M after-tax, related primarily to severance. Program-wide totals: $352M pretax / $232M after-tax for approximately 6,100 jobs; $257M liability for expected future cash outlays at September 30, 2001, with the majority expected over the following six months. Expected cost savings of $325M in 2002 and $360M in 2003. | |
| 2001-09-30 | restructuring | in_progress | 4,700 | 2001-07-18 | Travel Related Services | USD 195 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Includes severance for elimination of jobs and other exit costs. | |||
| 2001-09-30 | restructuring | in_progress | 900 | 2001-07-18 | American Express Financial Advisors | USD 62 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Includes severance for optimization of client service organization. | |||
| 2001-09-30 | restructuring | in_progress | 400 | 2001-07-18 | Asia, Latin America, Europe | American Express Bank | USD 84 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Scale back of corporate lending activities. | ||
| 2001-09-30 | restructuring | in_progress | 100 | 2001-07-18 | Corporate & Other | USD 11 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Related primarily to severance. | |||
| 2001-06-30 | restructuring | announced | 2001-07 | Global | Multiple | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Announced July 2001; restructuring charge of $310M-$370M expected in Q3 2001 for eliminating 4,000-5,000 jobs via accelerated reengineering initiatives originally planned for 2002. Charge relates primarily to severance and related costs. | ||||
| 2001-06-30 | restructuring | announced | 2001-07 | 2001-09-30 | Global | Corporate and Other | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Company announced acceleration of reengineering initiatives with expected charge of $310-$370 million in Q3 2001, relating primarily to severance for eliminating 4,000-5,000 jobs. | |||
| 2000-06-30 | other | in_progress | 2000-06-30 | United States | American Express Financial Advisors | Part II, Item 1 (Legal Proceedings) f5-10q / Qwen3.6-27B-Q8_0 | Eight former female financial advisors filed charges with the EEOC alleging discrimination in hiring, assignment of work, distribution of leads, training and promotions. Class claims on behalf of all women advisors at AEFA. | ||||
| 2000-06-30 | other | in_progress | 1999-03-29 | United States | American Express Financial Advisors | Part II, Item 1 (Legal Proceedings) f5-10q / Qwen3.6-27B-Q8_0 | Class action lawsuit alleging financial advisors were misclassified as independent contractors. Motion for class certification filed July 31, 2000. | ||||
| 2000-06-30 | restructuring | completed | International | American Express Bank | MD&A - American Express Bank/Travelers Cheque f5-10q / Qwen3.6-27B-Q8_0 | Personnel reductions as AEB rationalizes certain country activities. | |||||
| 1998-12-31 | acquisition_addition | completed | 1,100 | 1998-03-01 | United States | American Express Financial Advisors | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Securities America, Inc., an independent broker-dealer; approximately 1,100 financial advisors added | |||
| 1998-12-31 | other | completed | 1998-11-30 | 1998-11-30 | United States | Corporate Services, TRS | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | TRS decided not to pursue further bidding on US Government Card contract; contract terminated November 1998. Affected 1.6 million cards and $3.5 billion annual billed business; no employee count disclosed | |||
| 1998-06-30 | acquisition_addition | completed | 1,105 | 1998-03-31 | American Express Financial Advisors | other f5-10q / Qwen3.6-27B-Q8_0 | Includes 1,105 advisors from the acquisition of Securities America in the first quarter of 1998. | ||||
| 1998-03-31 | acquisition_addition | completed | 1,105 | United States | American Express Financial Advisors | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Advisor count includes 1,105 advisors added through the Securities America acquisition in Q1 1998; advisors are a producer count, not necessarily total employees. | ||||
| 1998-03-31 | acquisition_addition | completed | 1,105 | 1998-03-31 | American Express Financial Advisors | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Includes 1,105 advisors from the acquisition of Securities America in the first quarter of 1998. | ||||
| 1997-12-31 | restructuring | completed | 1996-12-31 | 1997-12-31 | Global | Travel Related Services | USD 216 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Charge recorded Q4 1996 for reengineering initiatives implemented during 1997; $196M pretax related to TRS (approx. two-thirds international), $109M pretax severance, $87M pretax facility closures/consolidation/outsourcing; substantially completed by 1997-12-31; employee count not disclosed | ||
| 1997-12-31 | divestiture_reduction | completed | United States | Travel Related Services — Stored Value Products | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | TRS sold American Express Special Teams, Inc. during 1997; headcount not disclosed | |||||
| 1997-12-31 | acquisition_addition | announced | 1,200 | 1998-03-01 | United States | American Express Financial Advisors | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquired Securities America, an independent broker-dealer servicing 1,200 financial advisors; announced March 1998 after fiscal year-end | |||
| 1997-12-31 | restructuring | completed | 1996-10-01 | 1997-12-31 | Global | Travel Related Services | USD 196 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Pretax charge of $196 million ($125 million after-tax) recorded in Q4 1996 for reengineering initiatives implemented in 1997. Included $109 million in severance costs and $87 million for facility closures/outsourcing. Substantially completed by Dec 31, 1997. Employee count not disclosed. | ||
| 1996-12-31 | restructuring | in_progress | 3,300 | 1996-12-31 | Approximately two-thirds international markets; remainder United States | Travel Related Services (TRS) — Card and Travel businesses | USD 109 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Severance component of $196M pretax TRS restructuring charge; additional $87M pretax for facility closures, operations consolidation/outsourcing, and asset write-downs. Total TRS charge $125M after-tax ($196M pretax). Annual pretax savings expected ~$80M in 1997 and ~$130M in 1998 and future years. Approximately $125M pretax requires cash outlays. | ||
| 1996-12-31 | restructuring | completed | 1996-12-31 | United States | Corporate | USD 20 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Corporate-level charge of $13M after-tax ($20M pretax), primarily related to early retirement of debt and certain restructuring costs; no employee count disclosed. | |||
| 1996-12-31 | restructuring | completed | 3,300 | 1996-12-31 | 1997-12-31 | Global | Travel Related Services | USD 196 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Charge recorded in Q4 1996 for reengineering initiatives to be implemented in 1997. Includes $109 million pretax in severance costs associated with elimination of approximately 3,300 positions (about two-thirds in international markets). | |
| 1995-12-31 | divestiture_reduction | completed | 1995-10-01 | 1995-10-31 | United States | American Express Financial Advisors / Insurance | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | TRS sold AMEX Life Assurance Company to GE Capital in October 1995. Headcount transferred not disclosed. | |||
| 1995-12-31 | restructuring | in_progress | 1994-10-01 | Global | Company-wide | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Reengineering program launched 1992, expanded Oct 1994 with significant staff reductions. Filing states costs not material to current or future earnings but does not quantify 1995-specific headcount reductions. | ||||
| 1995-12-31 | restructuring | in_progress | 1994-10-01 | Worldwide | All segments | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Announced in October 1994 as part of a reengineering program launched in 1992. Resulted in significant staff reductions throughout the Company. Specific headcount numbers not disclosed. |