Basis of Presentation Basis of Presentation (Tables)

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of impact of adoption of new accounting standards

The following table presents the impacts to the allowance for credit losses and retained earnings upon adoption of this guidance on January 1, 2020:

(in billions)	December 31, 2019		CECL adoption impact		January 1, 2020
Allowance for credit losses
Consumer, excluding credit card(a)	$	2.6	$	0.4	$	3.0
Credit card	5.7		5.5		11.2
Wholesale(a)	6.0		(1.6)		4.4
Firmwide	$	14.3	$	4.3	$	18.6
Retained earnings
Firmwide allowance increase			$	4.3
Balance sheet reclassification(b)			(0.8)
Total pre-tax impact			3.5
Tax effect			(0.8)
Decrease to retained earnings			$	2.7

(a)In conjunction with the adoption of CECL, the Firm reclassified risk-rated business banking and auto dealer loans and lending-related commitments held in CCB from the consumer, excluding credit card portfolio segment to the wholesale portfolio segment, to align with the methodology applied when determining the allowance. Prior-period amounts have been revised to conform with the current presentation. Accordingly, $0.6 billion of the allowance for credit losses at December 31, 2019 and $(0.2) billion of the CECL adoption impact were reclassified.

(b)Represents the recognition of the nonaccretable difference on purchased credit deteriorated loans and the Firm's election to recognize the reserve for uncollectible accrued interest on credit card loans in the allowance, both of which resulted in a corresponding increase to loans.

Schedule of significant accounting policies

The following table identifies JPMorgan Chase’s other significant accounting policies and the Note and page where a detailed description of each policy can be found.

Fair value measurement	Note 2	page 171
Fair value option	Note 3	page 192
Derivative instruments	Note 5	page 198
Noninterest revenue and noninterest expense	Note 6	page 212
Interest income and Interest expense	Note 7	page 215
Pension and other postretirement employee benefit plans	Note 8	page 216
Employee share-based incentives	Note 9	page 221
Investment securities	Note 10	page 223
Securities financing activities	Note 11	page 229
Loans	Note 12	page 232
Allowance for credit losses	Note 13	page 248
Variable interest entities	Note 14	page 253
Goodwill and Mortgage servicing rights	Note 15	page 261
Premises and equipment	Note 16	page 265
Leases	Note 18	page 266
Long-term debt	Note 20	page 269
Earnings per share	Note 23	page 274
Income taxes	Note 25	page 277
Off–balance sheet lending-related financial instruments, guarantees and other commitments	Note 28	page 283
Litigation	Note 30	page 290