Earnings Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Earnings per share

For a discussion of the computation of basic and diluted earnings per share (“EPS”), see Note 24 on page 301 of JPMorgan Chase’s 2012Annual Report. The following table presents the calculation of basic and diluted EPS for the three months endedMarch 31, 2013 and 2012.

(in millions, except per share amounts)	Three months ended March 31,
	2013		2012
Basic earnings per share
Net income	$	6,529	$	4,924
Less: Preferred stock dividends	182		157
Net income applicable to common equity	6,347		4,767
Less: Dividends and undistributed earnings allocated to participating securities	216		190
Net income applicable to common stockholders	$	6,131	$	4,577
Total weighted-average basic shares outstanding	3,818.2		3,818.8
Net income per share	$	1.61	$	1.20
Diluted earnings per share
Net income applicable to common stockholders	$	6,131	$	4,577
Total weighted-average basic shares outstanding	3,818.2		3,818.8
Add: Employee stock options, SARs and warrants(a)	28.8		14.6
Total weighted-average diluted shares outstanding(b)	3,847.0		3,833.4
Net income per share	$	1.59	$	1.19

(a) Excluded from the computation of diluted EPS (due to the antidilutive effect) were options issued under employee benefit plans and the warrants originally issued in 2008 under the U.S. Treasury’s Capital Purchase Program to purchase shares of the Firm’s common stock. The aggregate number of shares issuable upon the exercise of such options and warrants was 13 million and 169 million for the three months endedMarch 31, 2013 and 2012, respectively.

(b) Participating securities were included in the calculation of diluted EPS using the two-class method, as this computation was more dilutive than the calculation using the treasury stock method.