Earnings per Share

3 Months Ended

Mar. 31, 2016

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 of JPMorgan Chase’s 2015Annual Report. The following table presents the calculation of basic and diluted EPS for the three months endedMarch 31, 2016 and 2015.

(in millions, except per share amounts)	Three months ended March 31,
	2016		2015
Basic earnings per share
Net income	$	5,520	$	5,914
Less: Preferred stock dividends	412		324
Net income applicable to common equity	5,108		5,590
Less: Dividends and undistributed earnings allocated to participating securities	117		138
Net income applicable to common stockholders	$	4,991	$	5,452
Total weighted-average basic shares outstanding	3,669.9		3,725.3
Net income per share	$	1.36	$	1.46
Diluted earnings per share
Net income applicable to common stockholders	$	4,991	$	5,452
Total weighted-average basic shares outstanding	3,669.9		3,725.3
Add: Employee stock options, SARs, warrants and PSUs(a)	27.0		32.2
Total weighted-average diluted shares outstanding(b)	3,696.9		3,757.5
Net income per share	$	1.35	$	1.45

(a) Excluded from the computation of diluted EPS (due to the antidilutive effect) were options issued under employee benefit plans. The aggregate number of shares issuable upon the exercise of such options was not material for the three months endedMarch 31, 2016 and 1 million for the three months endedMarch 31, 2015.

(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.