EX-99.2 5 a1q16erfexhibit992suppleme.htm EARNINGS RELEASE FINANCIAL SUPPLEMENT - 1Q16 Exhibit











EARNINGS RELEASE FINANCIAL SUPPLEMENT

FIRST QUARTER 2016

 




JPMORGAN CHASE & CO.
 
 
 
 
 
TABLE OF CONTENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page(s)
 
Consolidated Results
 
 
 
 
 
 
 
 
 
 
 
Consolidated Financial Highlights
 
 
 
 
 
 
 
 
 
2–3
 
Consolidated Statements of Income
 
 
 
 
 
 
 
 
 
4
 
Consolidated Balance Sheets
 
 
 
 
 
 
 
 
 
5
 
Condensed Average Balance Sheets and Annualized Yields
 
 
 
 
 
 
 
 
 
6
 
Reconciliation from Reported to Managed Basis
 
 
 
 
 
 
 
 
 
7
 
Segment Results - Managed Basis
 
 
 
 
 
 
 
 
 
8
 
Capital and Other Selected Balance Sheet Items
 
 
 
 
 
 
 
 
 
9
 
Earnings Per Share and Related Information
 
 
 
 
 
 
 
 
 
10
 
 
 
 
 
 
 
 
 
 
 
 
 
Business Segment Results
 
 
 
 
 
 
 
 
 
 
 
Consumer & Community Banking
 
 
 
 
 
 
 
 
 
11–14
 
Corporate & Investment Bank
 
 
 
 
 
 
 
 
 
15–17
 
Commercial Banking
 
 
 
 
 
 
 
 
 
18–19
 
Asset Management
 
 
 
 
 
 
 
 
 
20–22
 
Corporate
 
 
 
 
 
 
 
 
 
23
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit-Related Information
 
 
 
 
 
 
 
 
 
24–27
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-GAAP Financial Measures and Other Notes
 
 
 
 
 
 
 
 
 
28
 
Glossary of Terms (a)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Refer to the Glossary of Terms on pages 311–315 of JPMorgan Chase & Co.’s (the “Firm’s”) Annual Report on Form 10-K for the year ended December 31, 2015 (the “2015 Annual Report”).






JPMORGAN CHASE & CO.
 
 
 
 
CONSOLIDATED FINANCIAL HIGHLIGHTS
 
 
 
 
(in millions, except per share and ratio data)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
QUARTERLY TRENDS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1Q16 Change
 
 
 
SELECTED INCOME STATEMENT DATA
1Q16
 
4Q15
 
3Q15
 
2Q15
 
1Q15
 
4Q15
 
1Q15
 
 
 
Reported Basis
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total net revenue
$
23,239

 
$
22,885

 
$
22,780

 
$
23,812

 
$
24,066

 
2
 %

(3
)%

 

Total noninterest expense
13,837

 
14,263

 
15,368

 
14,500

 
14,883

 
(3
)
 
(7
)
 
 
 
Pre-provision profit
9,402

 
8,622

 
7,412

 
9,312

 
9,183

 
9

 
2

 
 
 
Provision for credit losses
1,824

 
1,251

 
682

 
935

 
959

 
46

 
90

 
 
 
NET INCOME
5,520

 
5,434

 
6,804

 
6,290

 
5,914

 
2

 
(7
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Managed Basis (a)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total net revenue
24,083

 
23,747

 
23,535

 
24,531

 
24,820

 
1

 
(3
)
 
 
 
Total noninterest expense
13,837

 
14,263

 
15,368

 
14,500

 
14,883

 
(3
)
 
(7
)
 
 
 
Pre-provision profit
10,246

 
9,484

 
8,167

 
10,031

 
9,937

 
8

 
3

 
 
 
Provision for credit losses
1,824

 
1,251

 
682

 
935

 
959

 
46

 
90

 
 
 
NET INCOME
5,520

 
5,434

 
6,804

 
6,290

 
5,914

 
2

 
(7
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
EARNINGS PER SHARE DATA
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income: Basic
$
1.36

 
$
1.34

 
$
1.70

 
$
1.56

 
$
1.46

 
1

 
(7
)
 
 
 
 Diluted
1.35

 
1.32

 
1.68

 
1.54

 
1.45

 
2

 
(7
)
 
 
 
Average shares: Basic
3,669.9

 
3,674.2

 
3,694.4

 
3,707.8

 
3,725.3

 

 
(1
)
 
 
 
 Diluted
3,696.9

 
3,704.6

 
3,725.6

 
3,743.6

 
3,757.5

 

 
(2
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MARKET AND PER COMMON SHARE DATA
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Market capitalization
$
216,547

 
$
241,899

 
$
224,438

 
$
250,581

 
$
224,818

 
(10
)
 
(4
)
 
 
 
Common shares at period-end
3,656.7

 
3,663.5

 
3,681.1

 
3,698.1

 
3,711.1

 

 
(1
)
 
 
 
Closing share price (b)
$
59.22

 
$
66.03

 
$
60.97

 
$
67.76

 
$
60.58

 
(10
)
 
(2
)
 
 
 
Book value per share
61.28

 
60.46

 
59.67

 
58.49

 
57.77

 
1

 
6

 
 
 
Tangible book value per share (c)
48.96

 
48.13

 
47.36

 
46.13

 
45.45

 
2

 
8

 
 
 
Cash dividends declared per share
0.44

 
0.44

 
0.44

 
0.44

(h)
0.40

 

 
10

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FINANCIAL RATIOS (d)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Return on common equity (“ROE”)
9
%

9
%

12
%

11
%
 
11
%
 
 
 
 
 
 
 
Return on tangible common equity (“ROTCE”) (c)
12

 
11

 
15

 
14

 
14

 
 
 
 
 
 
 
Return on assets
0.93

 
0.90

 
1.11

 
1.01

 
0.94

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
High quality liquid assets (“HQLA”) (in billions) (e)
$
505

(g)
$
496

 
$
505

 
$
532

 
$
614

 
2

 
(18
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CAPITAL RATIOS (f)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Common equity Tier 1 (“CET1”) capital ratio
11.8
%
(g)
11.8
%
 
11.5
%
 
11.2
%
 
10.7
%
 
 
 
 
 
 
 
Tier 1 capital ratio
13.5

(g)
13.5

 
13.3

 
12.8

 
12.1

 
 
 
 
 
 
 
Total capital ratio
15.1

(g)
15.1

 
14.9

 
14.4

 
13.6

 
 
 
 
 
 
 
Tier 1 leverage ratio
8.6

(g)
8.5

 
8.4

 
8.0

 
7.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: Effective January 1, 2016, the Firm adopted new accounting guidance related to (1) the recognition and measurement of debit valuation adjustments ("DVA") on financial liabilities where the fair value option has been elected, and (2) the accounting for share-based payments. For additional information, see Notes 1 and 2 on page 28.

(a)
For a further discussion of managed basis, see Reconciliation from Reported to Managed Basis on page 7.
(b)
Share price shown is from the New York Stock Exchange.
(c)
Tangible book value per share and ROTCE are non-GAAP financial measures. Tangible book value per share represents tangible common equity (“TCE”) divided by common shares at period-end. ROTCE measures the Firm’s annualized earnings as a percentage of average TCE. For further discussion of these measures, see page 28.
(d)
Quarterly ratios are based upon annualized amounts.
(e)
HQLA represents the amount of assets that qualify for inclusion in the liquidity coverage ratio under the final U.S. rule (“U.S. LCR”). For additional information on HQLA and LCR, see page 160 of the 2015 Annual Report.
(f)
Ratios presented are calculated under the Basel III Transitional capital rules and represent the Collins Floor. See footnote (a) on page 9 for additional information on Basel III and the Collins Floor.
(g)
Estimated.
(h)
On May 19, 2015, the Board of Directors increased the quarterly common stock dividend from $0.40 to $0.44 per share.

Page 2



JPMORGAN CHASE & CO.
 
 
 
 
CONSOLIDATED FINANCIAL HIGHLIGHTS, CONTINUED
 
 
 
(in millions, except ratio and headcount data)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
QUARTERLY TRENDS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1Q16 Change
 
 
 
 
1Q16
 
4Q15
 
3Q15
 
2Q15
 
1Q15
 
4Q15
 
1Q15
 
 
 
SELECTED BALANCE SHEET DATA (period-end)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total assets
$
2,423,808

 
$
2,351,698

 
$
2,416,635

 
$
2,449,098

 
$
2,576,619

 
3
 %
 
(6
)%
 
 
 
Loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer, excluding credit card loans
354,192

 
344,821

 
331,969

 
318,286

 
305,215

 
3

 
16

 
 
 
Credit card loans
126,090

 
131,463

 
126,979

 
126,025

 
123,257

 
(4
)
 
2

 
 
 
Wholesale loans
367,031

 
361,015

 
350,509

 
346,936

 
335,713

 
2

 
9

 
 
 
Total Loans
847,313

 
837,299

 
809,457

 
791,247

 
764,185

 
1

 
11

 
 
 
           Core loans (a)
746,196

 
732,093

 
698,988

 
674,767

 
641,285

 
2

 
16

 
 
 
Core loans (average) (a)
737,297

 
715,282

 
680,224

 
654,551

 
631,955

 
3

 
17

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. offices:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Noninterest-bearing
383,282

 
392,721

 
404,984

 
432,052

 
441,245

 
(2
)
 
(13
)
 
 
 
Interest-bearing
695,667

 
663,004

 
624,014

 
611,438

 
644,228

 
5

 
8

 
 
 
Non-U.S. offices:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Noninterest-bearing
20,913

 
18,921

 
20,174

 
21,777

 
18,484

 
11

 
13

 
 
 
Interest-bearing
221,954

 
205,069

 
223,934

 
222,065

 
263,930

 
8

 
(16
)
 
 
 
Total deposits
1,321,816

 
1,279,715

 
1,273,106

 
1,287,332

 
1,367,887

 
3

 
(3
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt (b)
290,754

 
288,651

 
292,503

 
286,240

 
280,123

 
1

 
4

 
 
 
Common stockholders’ equity
224,089

 
221,505

 
219,660

 
216,287

 
214,371

 
1

 
5

 
 
 
Total stockholders’ equity
250,157

 
247,573

 
245,728

 
241,205

 
235,864

 
1

 
6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans-to-deposits ratio
64

%
65

%
64

%
61

%
56

%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Headcount
237,420

 
234,598

 
235,678

 
237,459

 
241,145

 
1

 
(2
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
95% CONFIDENCE LEVEL- TOTAL VaR (c)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Average VaR
$
54

 
$
49

 
$
54

 
$
42

 
$
43

 
10

 
26

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LINE OF BUSINESS NET REVENUE (d)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer & Community Banking
$
11,117

 
$
11,222

 
$
10,879

 
$
11,015

 
$
10,704

 
(1
)
 
4

 
 
 
Corporate & Investment Bank
8,135

 
7,069

 
8,168

 
8,723

 
9,582

 
15

 
(15
)
 
 
 
Commercial Banking
1,803

 
1,760

 
1,644

 
1,739

 
1,742

 
2

 
4

 
 
 
Asset Management
2,972

 
3,045

 
2,894

 
3,175

 
3,005

 
(2
)
 
(1
)
 
 
 
Corporate
56

 
651

 
(50
)
 
(121
)
 
(213
)
 
(91
)
 
NM

 
 
 
TOTAL NET REVENUE
$
24,083

 
$
23,747

 
$
23,535

 
$
24,531

 
$
24,820

 
1

 
(3
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LINE OF BUSINESS NET INCOME
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consumer & Community Banking
$
2,490

 
$
2,407

 
$
2,630

 
$
2,533

 
$
2,219

 
3

 
12

 
 
 
Corporate & Investment Bank
1,979

 
1,748

 
1,464

 
2,341

 
2,537

 
13

 
(22
)
 
 
 
Commercial Banking
496

 
550

 
518

 
525

 
598

 
(10
)
 
(17
)
 
 
 
Asset Management
587

 
507

 
475

 
451

 
502

 
16

 
17

 
 
 
Corporate
(32
)
 
222

 
1,717

 
440

 
58

 
NM

 
NM

 
 
 
NET INCOME
$
5,520

 
$
5,434

 
$
6,804

 
$
6,290

 
$
5,914

 
2

 
(7
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Loans considered central to the Firm’s ongoing businesses; core loans exclude loans classified as trading assets, runoff portfolios, discontinued portfolios and portfolios the Firm has an intent to exit.
(b)
Included unsecured long-term debt of $216.1 billion, $211.8 billion, $214.6 billion, $209.1 billion and $209.0 billion for the periods ended March 31, 2016, December 31, 2015, September 30, 2015, June 30, 2015, and March 31, 2015, respectively.
(c)
As part of the Firm’s continuous evaluation and periodic enhancement of its VaR model calculations, during the second quarter of 2015 the Firm refined the historical proxy time series inputs to certain VaR models to more appropriately reflect the risk exposure from certain asset-backed products. Had these new time series been used as inputs into these VaR models in the first quarter of 2015, the Firm estimates they would have resulted in a reduction to average total VaR of $3 million. For information regarding CIB VaR, see Corporate & Investment Bank on page 17.
(d)
For a further discussion of managed basis, see Reconciliation from Reported to Managed Basis on page 7.

Page 3



JPMORGAN CHASE & CO.
 
 
 
 
CONSOLIDATED STATEMENTS OF INCOME
 
 
 
 
(in millions, except per share and ratio data)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
QUARTERLY TRENDS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1Q16 Change
 
 
 
REVENUE
1Q16
 
4Q15
 
3Q15
 
2Q15
 
1Q15
 
4Q15
 
1Q15
 
 
 
Investment banking fees
$
1,333

 
$
1,520

 
$
1,604

 
$
1,833

 
$
1,794

 
(12
)%
 
(26
)%
 
 
 
Principal transactions
2,679

 
1,552

 
2,367

 
2,834

 
3,655

 
73

 
(27
)
 
 
 
Lending- and deposit-related fees
1,403

 
1,450

 
1,463

 
1,418

 
1,363

 
(3
)
 
3

 
 
 
Asset management, administration and commissions
3,624

 
3,842

 
3,845

 
4,015

 
3,807

 
(6
)
 
(5
)
 
 
 
Securities gains
51

 
73

 
33

 
44

 
52

 
(30
)
 
(2
)
 
 
 
Mortgage fees and related income
667

 
556

 
469

 
783

 
705

 
20

 
(5
)
 
 
 
Card income
1,301

 
1,431

 
1,447

 
1,615

 
1,431

 
(9
)
 
(9
)
 
 
 
Other income
801

 
1,236

 
628

 
586

 
582

 
(35
)
 
38

 
 
 
Noninterest revenue
11,859

 
11,660

 
11,856

 
13,128

 
13,389

 
2

 
(11
)
 
 
 
Interest income
13,552

 
13,155

 
12,739

 
12,514

 
12,565

 
3

 
8

 
 
 
Interest expense
2,172

 
1,930

 
1,815

 
1,830

 
1,888

 
13

 
15

 
 
 
Net interest income
11,380

 
11,225

 
10,924

 
10,684

 
10,677

 
1

 
7

 
 
 
TOTAL NET REVENUE
23,239

 
22,885

 
22,780

 
23,812

 
24,066

 
2

 
(3
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Provision for credit losses
1,824

 
1,251

 
682

 
935

 
959

 
46

 
90

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NONINTEREST EXPENSE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Compensation expense
7,660

 
6,693

 
7,320

 
7,694

 
8,043

 
14

 
(5
)
 
 
 
Occupancy expense
883

 
947

 
965

 
923

 
933

 
(7
)
 
(5
)
 
 
 
Technology, communications and equipment expense
1,618

 
1,657

 
1,546

 
1,499

 
1,491

 
(2
)
 
9

 
 
 
Professional and outside services
1,548

 
1,824

 
1,776

 
1,768

 
1,634

 
(15
)
 
(5
)
 
 
 
Marketing
703

 
771

 
704

 
642

 
591

 
(9
)
 
19

 
 
 
Other expense (a)
1,425

 
2,371

 
3,057

 
1,974

 
2,191

 
(40
)
 
(35
)
 
 
 
TOTAL NONINTEREST EXPENSE
13,837

 
14,263

 
15,368

 
14,500

 
14,883

 
(3
)
 
(7
)
 
 
 
Income before income tax expense
7,578

 
7,371

 
6,730

 
8,377

 
8,224

 
3

 
(8
)
 
 
 
Income tax expense/(benefit) (b)
2,058

 
1,937

 
(74
)
 
2,087

 
2,310

 
6

 
(11
)
 
 
 
NET INCOME
$
5,520

 
$
5,434

 
$
6,804

 
$
6,290

 
$
5,914

 
2

 
(7
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NET INCOME PER COMMON SHARE DATA
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic earnings per share
$
1.36

 
$
1.34

 
$
1.70

 
$
1.56

 
$
1.46

 
1

 
(7
)
 
 
 
Diluted earnings per share
1.35

 
1.32

 
1.68

 
1.54

 
1.45

 
2

 
(7
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FINANCIAL RATIOS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Return on common equity (c)
9
%
 
9
%
 
12
 %
 
11
%
 
11
%
 
 
 
 
 
 
 
Return on tangible common equity (c)(d)
12

 
11

 
15

 
14

 
14

 
 
 
 
 
 
 
Return on assets (c)
0.93

 
0.90

 
1.11

 
1.01

 
0.94

 
 
 
 
 
 
 
Effective income tax rate (b)
27.2

 
26.3

 
(1.1
)
 
24.9

 
28.1

 
 
 
 
 
 
 
Overhead ratio
60

 
62

 
67

 
61

 
62

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
See notes 1 and 2 on page 28.

(a)
Included Firmwide legal expense of $644 million, $1.3 billion, $291 million and $687 million for the three months ended December 31, 2015, September 30, 2015, June 30, 2015, and March 31, 2015, respectively; legal expense for the three months ended March 31, 2016 was not material.
(b)
The three months ended September 30, 2015 reflected tax benefits of $2.2 billion, which reduced the Firm’s effective tax rate by 32.0%. The recognition of tax benefits in 2015 resulted from the resolution of various tax audits, as well as the release of U.S. deferred taxes associated with the restructuring of certain non-U.S. entities.
(c)
Quarterly ratios are based upon annualized amounts.
(d)
For further discussion of ROTCE see pages 2 and 28.

Page 4



JPMORGAN CHASE & CO.
 
 
 
 
CONSOLIDATED BALANCE SHEETS
 
 
 
 
(in millions)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mar 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
Change
 
 
Mar 31,
 
Dec 31,
 
Sep 30,
 
Jun 30,
 
Mar 31,
 
Dec 31,
 
Mar 31,
 
 
2016
 
2015
 
2015
 
2015
 
2015
 
2015
 
2015
 
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and due from banks
$
18,212

 
$
20,490

 
$
21,258

 
$
24,095

 
$
22,821

 
(11
)%
 
(20
)%
 
Deposits with banks
360,196

 
340,015

 
376,196

 
398,807

 
506,383

 
6

 
(29
)
 
Federal funds sold and securities purchased under
 
 
 
 
 
 
 
 
 
 
 
 
 
 
resale agreements
223,220

 
212,575

 
218,467

 
212,850

 
219,344

 
5

 
2

 
Securities borrowed
102,937

 
98,721

 
105,668

 
98,528

 
108,376

 
4

 
(5
)
 
Trading assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt and equity instruments
295,944

 
284,162

 
293,040

 
310,419

 
317,407

 
4

 
(7
)
 
Derivative receivables
70,209

 
59,677

 
68,668

 
67,451

 
81,574

 
18

 
(14
)
 
Securities
285,323

 
290,827

 
306,660

 
317,795

 
331,136

 
(2
)
 
(14
)
 
Loans
847,313

 
837,299

 
809,457

 
791,247

 
764,185

 
1

 
11

 
Less: Allowance for loan losses
13,994

 
13,555

 
13,466

 
13,915

 
14,065

 
3

 
(1
)
 
Loans, net of allowance for loan losses
833,319

 
823,744

 
795,991

 
777,332

 
750,120

 
1

 
11

 
Accrued interest and accounts receivable
57,649

 
46,605

 
57,926

 
69,642

 
70,006

 
24

 
(18
)
 
Premises and equipment
14,195

 
14,362

 
14,709

 
15,073

 
14,963

 
(1
)
 
(5
)
 
Goodwill
47,310

 
47,325

 
47,405

 
47,476

 
47,453

 

 

 
Mortgage servicing rights
5,658

 
6,608

 
6,716

 
7,571

 
6,641

 
(14
)
 
(15
)
 
Other intangible assets
940

 
1,015

 
1,036

 
1,091

 
1,128

 
(7
)
 
(17
)
 
Other assets
108,696

 
105,572

 
102,895

 
100,968

 
99,267

 
3

 
9

 
TOTAL ASSETS
$
2,423,808

 
$
2,351,698

 
$
2,416,635

 
$
2,449,098

 
$
2,576,619

 
3

 
(6
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LIABILITIES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits
$
1,321,816

 
$
1,279,715

 
$
1,273,106

 
$
1,287,332

 
$
1,367,887

 
3

 
(3
)
 
Federal funds purchased and securities loaned or sold
 
 
 
 
 
 
 
 
 
 
 
 
 
 
under repurchase agreements
160,999

 
152,678

 
180,319

 
180,897

 
196,578

 
5

 
(18
)
 
Commercial paper
17,490

 
15,562

 
19,656

 
42,238

 
55,655

 
12

 
(69
)
 
Other borrowed funds
19,703

 
21,105

 
27,174

 
30,061

 
29,035

 
(7
)
 
(32
)
 
Trading liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt and equity instruments
87,963

 
74,107

 
84,334

 
80,396

 
84,437

 
19

 
4

 
Derivative payables
59,319

 
52,790

 
57,140

 
59,026

 
73,836

 
12

 
(20
)
 
Accounts payable and other liabilities
176,934

 
177,638

 
187,986

 
191,749

 
202,157

 

 
(12
)
 
Beneficial interests issued by consolidated VIEs
38,673

 
41,879

 
48,689

 
49,954

 
51,047

 
(8
)
 
(24
)
 
Long-term debt
290,754

 
288,651

 
292,503

 
286,240

 
280,123

 
1

 
4

 
TOTAL LIABILITIES
2,173,651

 
2,104,125

 
2,170,907

 
2,207,893

 
2,340,755

 
3

 
(7
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
STOCKHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred stock
26,068

 
26,068

 
26,068

 
24,918

 
21,493

 

 
21

 
Common stock
4,105

 
4,105

 
4,105

 
4,105

 
4,105

 

 

 
Additional paid-in capital
91,782

 
92,500

 
92,316

 
92,204

 
92,245

 
(1
)
 
(1
)
 
Retained earnings
149,730

 
146,420

 
143,050

 
138,294

 
134,048

 
2

 
12

 
Accumulated other comprehensive income
782

 
192

 
751

 
1,102

 
2,430

 
307

 
(68
)
 
Shares held in RSU Trust, at cost
(21
)
 
(21
)
 
(21
)
 
(21
)
 
(21
)
 

 

 
Treasury stock, at cost
(22,289
)
 
(21,691
)
 
(20,541
)
 
(19,397
)
 
(18,436
)
 
(3
)
 
(21
)
 
TOTAL STOCKHOLDERS’ EQUITY
250,157

 
247,573

 
245,728

 
241,205

 
235,864

 
1

 
6

 
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$
2,423,808

 
$
2,351,698

 
$
2,416,635

 
$
2,449,098

 
$
2,576,619

 
3

 
(6
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
See notes 1 and 2 on page 28.


Page 5



JPMORGAN CHASE & CO.
 
 
 
 
CONDENSED AVERAGE BALANCE SHEETS AND ANNUALIZED YIELDS
 
(in millions, except rates)
 
 
 
 
 
QUARTERLY TRENDS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1Q16 Change
 
 
 
AVERAGE BALANCES
1Q16
 
4Q15
 
3Q15
 
2Q15
 
1Q15
 
4Q15
 
1Q15
 
 
 
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deposits with banks
$
364,200

 
$
382,098

 
$
413,038

 
$
437,776

 
$
480,182

 
(5
)%
 
(24
)%
 
 
 
Federal funds sold and securities purchased under
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
resale agreements
204,992

 
202,205

 
201,673

 
205,352

 
217,546

 
1

 
(6
)
 
 
 
Securities borrowed
103,461

 
104,672

 
98,193

 
107,178

 
111,197

 
(1
)
 
(7
)
 
 
 
Trading assets - debt instruments
208,315

 
204,365

 
202,388

 
208,823

 
210,069

 
2

 
(1
)
 
 
 
Securities
284,488

 
297,648

 
307,364

 
323,941

 
334,967

 
(4
)
 
(15
)
 
 
 
Loans
840,526

 
823,057

 
793,584

 
774,205

 
757,638

 
2

 
11

 
 
 
Other assets (a)
38,001

 
37,012

 
40,650

 
40,362

 
37,202

 
3

 
2

 
 
 
Total interest-earning assets
2,043,983

 
2,051,057

 
2,056,890

 
2,097,637

 
2,148,801

 

 
(5
)
 
 
 
Trading assets - equity instruments
85,280

 
95,609

 
96,868

 
117,638

 
112,118

 
(11
)
 
(24
)
 
 
 
Trading assets - derivative receivables
70,651

 
66,043

 
69,646

 
73,805

 
83,901

 
7

 
(16
)
 
 
 
All other noninterest-earning assets
195,007