American Express Company Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	10,833	10,129	8,374	7,514	8,060
Depreciation & Amortization	1,777	1,676	1,651	1,626	1,695
Stock-Based Compensation	551	504	450	375	330
Other Adjustments	4,477	3,631	4,258	1,358	-1,897
Changes in Accounts Payable	3,645	-2,897	5,065	8,815	5,389
Changes in Other Operating Activities	-2,855	953	-1,185	1,391	1,068
Operating Cash Flow	18,428	14,050	18,559	21,079	14,645
Operating Cash Flow Growth	31.16%	-24.30%	-11.96%	43.93%	161.94%
Capital Expenditures	-2,425	-1,911	-1,563	-1,855	-1,550
Purchases of Investments	-1,760	-1,593	-1,572	-4,175	-1,517
Proceeds from Sale of Investments	1,500	2,221	3,890	1,918	20,094
Payments for Business Acquisitions	-633	-454	-64	-15	1
Proceeds from Business Divestments	-	594	-	-	-
Other Investing Activities	-19,573	-23,259	-25,124	-29,562	-27,557
Investing Cash Flow	-22,891	-24,402	-24,433	-33,689	-10,529
Long-Term Debt Issued	24,377	12,602	15,674	23,230	7,788
Long-Term Debt Repaid	-18,157	-10,759	-10,703	-18,906	-11,662
Net Long-Term Debt Issued (Repaid)	6,220	1,843	4,971	4,324	-3,874
Issuance of Common Stock	57	100	28	56	64
Repurchase of Common Stock	-5,814	-6,020	-3,650	-3,502	-7,652
Net Common Stock Issued (Repurchased)	-5,757	-5,920	-3,622	-3,446	-7,588
Issuance of Preferred Stock	-	-	-	-	1,584
Repurchase of Preferred Stock	-	-	-	-	-1,600
Net Preferred Stock Issued (Repurchased)	-	-	-	-	-16
Common Dividends Paid	-2,271	-1,999	-1,780	-1,565	-1,448
Other Financing Activities	13,018	10,512	18,810	25,196	-2,007
Financing Cash Flow	11,210	4,436	18,379	24,509	-14,933
Effect of Exchange Rate Changes on Cash and Cash Equivalents	405	-40	177	-	-
Net Cash Flow	7,152	-5,956	12,682	11,899	-10,817
Free Cash Flow	16,003	12,139	16,996	19,224	13,095
Free Cash Flow Growth	31.83%	-28.58%	-11.59%	46.80%	218.38%
FCF Margin	23.89%	19.98%	30.57%	37.93%	29.90%
Free Cash Flow Per Share	22.99	17.03	23.09	25.56	16.58
Levered Free Cash Flow	17,195	9,793	17,313	21,815	10,788
Unlevered Free Cash Flow	16,462	12,949	17,764	17,491	14,662

Updated Dec 31, 2025. Data Source: Fiscal.ai. standard template. Financial Sources.