Common stock (Common Stock [Member])

12 Months Ended

Dec. 31, 2013

Common Stock [Member]

Class of Stock [Line Items]

Common stock

Common stock

At December 31, 2013 and 2012, JPMorgan Chase was authorized to issue 9.0 billion shares of common stock with a par value of $1 per share.

Common shares issued (newly issued or distributed from treasury) by JPMorgan Chase during the years ended December 31, 2013, 2012 and 2011 were as follows.

Year ended December 31, (in millions)	2013		2012		2011
Total issued – balance at January 1 and December 31	4,104.9		4,104.9		4,104.9
Treasury – balance at January 1	(300.9	)	(332.2	)	(194.6	)
Purchase of treasury stock	(96.1	)	(33.5	)	(226.9	)
Share repurchases related to employee stock-based awards(a)	—		(0.2	)	(0.1	)
Issued from treasury:
Employee benefits and compensation plans	47.1		63.7		88.3
Employee stock purchase plans	1.1		1.3		1.1
Total issued from treasury	48.3		65.0		89.4
Total treasury – balance at December 31	(348.8	)	(300.9	)	(332.2	)
Outstanding	3,756.1		3,804.0		3,772.7

(a) Participants in the Firm’s stock-based incentive plans may have shares withheld to cover income taxes.

At December 31, 2013, 2012, and 2011, respectively, the Firm had 59.8 million, 59.8 million and 78.2 million warrants outstanding to purchase shares of common stock. The warrants were originally issued pursuant to the U.S. Treasury Capital Purchase Program in 2008, and are currently traded on the New York Stock Exchange. The warrants are exercisable, in whole or in part, at any time and from time to time until October 28, 2018, at an exercise price of $42.42 per share. The number of shares issuable upon the exercise of each warrant and the warrant exercise price is subject to adjustment upon the occurrence of certain events, including in the case of: stock splits, subdivisions, reclassifications or combinations of common stock; cash dividends or distributions to all holders of the Firm’s common stock of assets, rights or warrants (and with respect to cash dividends, only to the extent regular quarterly cash dividends exceed $0.38 per share (as adjusted for any stock split, reverse stock split, reclassification or similar transaction)); pro rata repurchases of common stock (as defined in the warrants) pursuant to an offer available to substantially all holders of common stock; and certain business combinations (as defined in the warrants) requiring the approval of the Firm’s stockholders or a reclassification of the Firm’s common stock.

On March 13, 2012, the Board of Directors authorized a $15.0 billion common equity (i.e., common stock and warrants) repurchase program. The amount of equity that may be repurchased is also subject to the amount that is set forth in the Firm’s annual capital plan that is submitted to the Federal Reserve as part of the CCAR process. The following table shows the Firm’s repurchases of common equity for the years endedDecember 31, 2013, 2012 and 2011, on a trade-date basis. As of December 31, 2013, $8.6 billion of authorized repurchase capacity remained under the program.

Year ended December 31,
(in millions)	2013		2012		2011
Total number of shares of common stock repurchased	96		31		229
Aggregate purchase price of common stock repurchases	$	4,789	$	1,329	$	8,827
Total number of warrants repurchased	—		18		10
Aggregate purchase price of warrant repurchases	$	—	$	238	$	122

The Firm may, from time to time, enter into written trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934 to facilitate repurchases in accordance with the common equity repurchase program. A Rule 10b5-1 repurchase plan allows the Firm to repurchase its equity during periods when it would not otherwise be repurchasing common equity — for example, during internal trading “black-out periods.” All purchases under a Rule 10b5-1 plan must be made according to a predefined plan established when the Firm is not aware of material nonpublic information. For additional information regarding repurchases of the Firm’s equity securities, see Part II, Item 5: Market for registrant’s common equity, related stockholder matters and issuer purchases of equity securities, on pages 20–21 of JPMorgan Chase’s 2013 Form 10-K.

On March 18, 2011, the Board of Directors raised the Firm’s quarterly common stock dividend from $0.05 to $0.25 per share, effective with the dividend paid on April 30, 2011, to shareholders of record on April 6, 2011. On March 13, 2012, the Board of Directors increased the Firm’s quarterly common stock dividend from $0.25 to $0.30 per share, effective with the dividend paid on April 30, 2012, to shareholders of record on April 5, 2012. On May 21, 2013, the Board of Directors increased the Firm’s quarterly common stock dividend from $0.30 per share to $0.38 per share, effective with the dividend paid on July 31, 2013, to shareholders of record on July 5, 2013.

As of December 31, 2013, approximately 290 million unissued shares of common stock were reserved for issuance under various employee incentive, compensation, option and stock purchase plans, director compensation plans, and the warrants sold by the U.S. Treasury as discussed above.