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Business Segments
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Business Segments Business segments
The Firm is managed on an LOB basis. There are four major reportable business segments - Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset & Wealth Management. In addition, there is a Corporate segment. The business segments are determined based on the products and services provided, or the type of customer served, and they reflect the manner in which financial information is currently evaluated by the Firm’s Operating Committee. Segment results are presented on a managed basis. Refer to Segment results below, and Note 32 of JPMorgan Chase’s 2020 Form 10-K for a further discussion of JPMorgan Chase’s business segments.
Segment results
The following table provides a summary of the Firm’s segment results as of or for the three months ended March 31, 2021 and 2020, on a managed basis. The Firm’s definition of managed basis starts with the reported U.S. GAAP results and includes certain reclassifications to
present total net revenue for the Firm (and each of the reportable business segments) on an FTE basis. Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable investments and securities. Refer to Note 32 of JPMorgan Chase’s 2020 Form 10-K for additional information on the Firm’s managed basis.
Capital allocation
The amount of capital assigned to each segment is referred to as equity. Periodically, the assumptions and methodologies used to allocate capital are assessed and as a result, the capital allocated to the LOBs may change. Refer to Line of business equity on page 98 of JPMorgan Chase’s 2020 Form 10-K for additional information on capital allocation.
Segment results and reconciliation(a)
As of or for the three months
ended March 31,
(in millions, except ratios)		Consumer &
Community Banking		Corporate &
Investment Bank		Commercial BankingAsset & Wealth Management
20212020202120202021202020212020
Noninterest revenue$4,588$4,097$11,088$6,896$917$608$3,146$2,529
Net interest income7,9299,1903,5173,1071,4761,557931860
Total net revenue12,51713,28714,60510,0032,3932,1654,0773,389
Provision for credit losses
(3,602)5,772(331)1,401(118)1,010(121)94
Noninterest expense7,2027,2697,1045,9559699862,5742,435
Income/(loss) before income tax expense/(benefit)
8,9172467,8322,6471,5421691,624860
Income tax expense/(benefit)2,189492,09266237430380191
Net income/(loss)$6,728$197$5,740$1,985$1,168$139$1,244$669
Average equity
$50,000$52,000$83,000$80,000$24,000$22,000$14,000$10,500
Total assets487,978513,3521,355,1231,216,558
(b)
223,583247,786213,088178,897
ROE
54 %1 %27 %9 %19 %2 %35 %25 %
Overhead ratio58 55 49 60 40 46 63 72 
As of or for the three months ended March 31,
(in millions, except ratios)		Corporate
Reconciling Items(a)
Total
202120202021202020212020
Noninterest revenue$382$331$(744)$(614)
(b)
$19,377$13,847
(b)
Net interest income(855)(165)(109)(110)12,88914,439
Total net revenue(473)166(853)(724)32,26628,286
Provision for credit losses
168——(4,156)8,285
Noninterest expense876146——18,72516,791
Income/(loss) before income tax expense/(benefit)
(1,365)12(853)(724)17,6973,210
Income tax expense/(benefit)(785)137(853)(724)
(b)
3,397345
(b)
Net income/(loss)$(580)$(125)$—$—$14,300$2,865
Average equity
$74,542$70,030$—$—$245,542$234,530
Total assets1,409,564981,937NANA3,689,3363,138,530
(b)
ROE
NMNMNMNM23 %4 %
Overhead ratioNMNMNMNM58 59 
(b)
(a)Segment managed results reflect revenue on an FTE basis with the corresponding income tax impact recorded within income tax expense/(benefit). These adjustments are eliminated in reconciling items to arrive at the Firm’s reported U.S. GAAP results.
(b) Prior-period amounts have been revised to conform with the current presentation. Refer to Note 1 for further information.