AXP — what changed in the latest 10-Q
A section-by-section comparison of AXP's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-04-23 vs the prior 10-Q · 2025-10-17
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +125 | −128 | ~72 | 79 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 1 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Other information | Text added/removed | +3 | −2 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings, Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-04-23
•Credit and charge cards and complementary products and services, including travel, dining, lifestyle and expense management products and services
•Banking and other payment and financing products and services, including deposits and non-card lending
We have updated our presentation and disclosure of Card Member loans and Card Member receivables to present them on a combined basis as Card balances. Results for the first quarter of 2026 and prior periods have been reclassified to conform to the new presentation. Previously, Card Member loans repr…
American Express is a bank holding company under the Bank Holding Company Act of 1956 and the Board of Governors of the Federal Reserve System (the Federal Reserve) is our primary federal regulator. As such, we are subject to the Federal Reserve’s regulations, policies and minimum capital standards.…
(Millions, except percentages, per share amounts and where indicated)20262025
Text removed vs the prior filing · source: 10-Q · 2025-10-17
•Credit card, charge card, banking and other payment and financing products
•Other services, such as the design and operation of customer loyalty programs
Beginning in the third quarter of 2025, we ceased reporting Net interest yield on average Card Member loans, a non-GAAP measure that was computed by dividing adjusted net interest income by average Card Member loans, and began reporting (together with prior period comparative information) Net intere…
American Express is a bank holding company under the Bank Holding Company Act of 1956 and The Board of Governors of the Federal Reserve System (the Federal Reserve) is our primary federal regulator. As such, we are subject to the Federal Reserve’s regulations, policies and minimum capital standards.…
(Millions, except percentages, per share amounts and where indicated)2025202420252024
Other information
Text added vs the prior filing · source: 10-Q · 2026-04-23
During the three months ended March 31, 2026, none of our directors or officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense conditi…
Pursuant to Section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012, which added Section 13(r) to the Exchange Act, an issuer is required to disclose in its annual or quarterly reports, as applicable, whether it or any of its affiliates knowingly engaged in certain activities, tr…
In the quarter ended March 31, 2026, the Office of Foreign Assets Control designated an individual with a card issued by an affiliate in Latin America as a Specially Designated National pursuant to Executive Order 13224, as amended, and we subsequently cancelled the account. We had negligible gross …
Text removed vs the prior filing · source: 10-Q · 2025-10-17
On July 25, 2025, Elizabeth Rutledge, our Chief Marketing Officer, entered into a Rule 10b5-1 trading arrangement (as defined in Item 408 of Regulation S-K under the Exchange Act), which is scheduled to expire no later than April 29, 2026. Up to 50,000 shares may be sold on the open market in accord…
No non-Rule 10b5-1 trading arrangements (as defined in Item 408 of Regulation S-K under the Exchange Act) were adopted by any of our directors or officers (as defined in Rule 16a-1(f) under the Exchange Act) during the three months ended September 30, 2025, and no Rule 10b5-1 trading arrangements or…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice