Accumulated Other Comprehensive Income/(Loss) (Tables)

3 Months Ended

Mar. 31, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated other comprehensive income/(loss)

AOCI includes the after-tax change in unrealized gains and losses on investment securities, foreign currency translation adjustments (including the impact of related derivatives), fair value changes of excluded components on fair value hedges, cash flow hedging activities, net loss and prior service costs/(credit) related to the Firm’s defined benefit pension and OPEB plans, and fair value option-elected liabilities arising from changes in the Firm’s own credit risk (DVA).

As of or for the three months ended March 31, 2021 (in millions)	Unrealized gains/(losses) on investment securities			Translation adjustments, net of hedges			Fair value hedges		Cash flow hedges			Defined benefit pension and OPEB plans			DVA on fair value option elected liabilities			Accumulated other comprehensive income/(loss)
Balance at January 1, 2021	$	8,180			$	(473)	$	(112)		$	2,383		$	(1,132)		$	(860)		$	7,986
Net change	(4,339)				(250)		(28)			(2,249)			68			(147)			(6,945)
Balance at March 31, 2021	$	3,841	(a)		$	(723)	$	(140)		$	134		$	(1,064)		$	(1,007)		$	1,041
As of or for the three months ended March 31, 2020 (in millions)	Unrealized gains/(losses) on investment securities			Translation adjustments, net of hedges			Fair value hedges		Cash flow hedges			Defined benefit pension and OPEB plans			DVA on fair value option elected liabilities			Accumulated other comprehensive income/(loss)
Balance at January 1, 2020	$	4,057			$	(707)	$	(131)		$	63		$	(1,344)		$	(369)		$	1,569
Net change	1,119				(330)		88			2,465			33			2,474			5,849
Balance at March 31, 2020	$	5,176	(a)		$	(1,037)	$	(43)		$	2,528		$	(1,311)		$	2,105		$	7,418

(a)As of March 31, 2021 and 2020, includes after-tax net unamortized unrealized gains of $2.9 billion and $737 million related to AFS securities that have been transferred to HTM, respectively. Refer to Note 10 of JPMorgan Chase's 2020 Form 10-K for further information.

Changes of the components of accumulated other comprehensive income (loss)

The following table presents the pre-tax and after-tax changes in the components of OCI.

	2021						2020
Three months ended March 31, (in millions)	Pre-tax		Tax effect		After-tax		Pre-tax		Tax effect		After-tax
Unrealized gains/(losses) on investment securities:
Net unrealized gains/(losses) arising during the period	$	(5,693)	$	1,365	$	(4,328)	$	1,709	$	(413)	$	1,296
Reclassification adjustment for realized (gains)/losses included in net income(a)	(14)		3		(11)		(233)		56		(177)
Net change	(5,707)		1,368		(4,339)		1,476		(357)		1,119
Translation adjustments:
Translation	(1,200)		39		(1,161)		(1,592)		55		(1,537)
Hedges	1,200		(289)		911		1,589		(382)		1,207
Net change	—		(250)		(250)		(3)		(327)		(330)
Fair value hedges, net change(b):	(37)		9		(28)		115		(27)		88
Cash flow hedges:
Net unrealized gains/(losses) arising during the period	(2,695)		647		(2,048)		3,251		(780)		2,471
Reclassification adjustment for realized (gains)/losses included in net income(c)	(264)		63		(201)		(8)		2		(6)
Net change	(2,959)		710		(2,249)		3,243		(778)		2,465
Defined benefit pension and OPEB plans, net change:	91		(23)		68		45		(12)		33
DVA on fair value option elected liabilities, net change:	(189)		42		(147)		3,255		(781)		2,474
Total other comprehensive income/(loss)	$	(8,801)	$	1,856	$	(6,945)	$	8,131	$	(2,282)	$	5,849

(a)The pre-tax amount is reported in Investment securities gains/(losses) in the Consolidated statements of income.

(b)Represents changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads, which are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income. The initial cost of cross-currency basis spreads is recognized in earnings as part of the accrual of interest on the cross currency swaps.

(c)The pre-tax amounts are primarily recorded in noninterest revenue, net interest income and compensation expense in the Consolidated statements of income.