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American Express AXP ICS — Interest Expense

Other segment segments

USCS
$757M-3.2%
CS
$432M-4.0%
GMNS
-$169M-2.4%

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Other financials

Income statement

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Revenue$19.6B+10.0%
Net income$3.1B+7.8%
EPS (diluted)$4.53+11.0%

Balance sheet

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Cash & equivalents$45.2B-21.9%
Total debt$59.0B-1.1%
Total equity$34.3B+6.1%
Total assets$308.20B+4.3%

Cash flow

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Operating cash flow$5.4B+23.1%
CapEx$898.0M+45.1%
Free cash flow$4.5B+19.4%

Valuation

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Market cap$235.68B+14.6%
Enterprise value$249.48B+20.3%
P/E20.6×+0.3×
P/S3.1×+0.1×

Profitability

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Net margin15.1%+0.3pp
FCF margin19.8%

Returns & leverage

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Return on equity34.4%+1.6pp
Debt / equity1.7×-0.1×

Where this comes from

Reported directly by American Express in its filing.

Tagged under the XBRL concept us-gaap:InterestExpenseOperating.

The source filing: American Express’s 10-Q, filed July 24, 2026.

Filed
Jul 24, 2026, 12:00 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000004962-26-000322
Three Months Ended June 30, 2026(Millions)USCSCSICSGMNSTotal Reportable Operating SegmentsCorporate & Other (a)Consolidated
Total non-interest revenues$6,229$3,591$3,261$1,919$15,000$(11)$14,988
Revenue from contracts with customers (b)4,3463,0972,0511,72811,222(10)11,212
Interest income4,0521,34373386,1364716,607
Interest expense757432375(169)1,3955641,958
Net interest income3,2959123581784,743(93)4,649
Total revenues net of interest expense9,5244,5033,6192,09619,742(104)19,637
Provisions for credit losses498353223101,0841,084
Total revenues net of interest expense after provisions for credit losses9,0254,1493,3962,08618,656(104)18,553

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is American Express's ICS — interest expense?
American Express (AXP) reported ICS — interest expense of $375M in Q2 2026.
How has American Express's ICS — interest expense changed year-over-year?
American Express's ICS — interest expense increased by 11.9% year-over-year, from $335M to $375M.
What is the long-term trend for American Express's ICS — interest expense?
Over 3 years (2022 to 2025), American Express's ICS — interest expense has grown at a 27.4% compound annual growth rate (CAGR), from $654M to $1.35B.
What does ICS — interest expense mean?
Represents the cost of funding the International Card Services segment's lending activities, including interest paid on deposits and debt. This is a critical efficiency metric that measures the cost of capital required to support the segment's credit portfolio. It directly impacts the net interest margin.

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