Earnings per Share

3 Months Ended

Mar. 31, 2021

Earnings per share

Refer to Note 23 of JPMorgan Chase’s 2020 Form 10-K for a discussion of the computation of basic and diluted earnings per share (“EPS”). The following table presents the calculation of basic and diluted EPS for the three months ended March 31, 2021 and 2020.


(in millions, except per share amounts)	Three months ended March 31,
	2021		2020
Basic earnings per share
Net income	$	14,300	$	2,865
Less: Preferred stock dividends	379		421
Net income applicable to common equity	13,921		2,444
Less: Dividends and undistributed earnings allocated to participating securities	70		13
Net income applicable to common stockholders	$	13,851	$	2,431

Total weighted-average basic shares outstanding	3,073.5		3,095.8
Net income per share	$	4.51	$	0.79

Diluted earnings per share
Net income applicable to common stockholders	$	13,851	$	2,431
Total weighted-average basic shares outstanding	3,073.5		3,095.8
Add: Dilutive impact of SARs and employee stock options, unvested PSUs and nondividend-earning RSUs	5.4		4.9
Total weighted-average diluted shares outstanding	3,078.9		3,100.7
Net income per share	$	4.50	$	0.78